The compliance world is evolving. Digital technologies are altering business and operating models, the number of regulatory requirements is increasing and countries are moving toward digitalising their tax administration that implies greater transparency and real-time reporting.
This digital disruption wave is forcing companies keep abreast of new rules, understand their impact, cope with the speed of change and explore new paths to achieve regulatory compliance in a cost efficient and timely manner by implementing digital solutions.
This survey was designed to improve our understanding of the challenges facing businesses, their abilities and objectives regarding digital transformation.
Why did we conduct the survey?
We are always looking for ways to anticipate our clients’ needs. Digitalisation is clearly a relevant topic, as it already touches many aspects of our daily work and will reach still further.
The first edition of this survey was conducted in 2018 to sample the state of the Luxembourg compliance landscape.
How did we conduct the survey?
We put together a survey of 13 questions and sent it out to CEOs, CFOs, Heads of Tax and Heads of Accounting of financial institutions and operational companies in Luxembourg. The questions were identical in 2018 and 2019, allowing for comparisons and trend analysis. The 2018 survey report can be found here.
The main features that technology should bring to the tax/accounting function
The digital economy has come of age through mobile technology, cloud computing, business intelligence and real-time reporting
Digitalisation will eventually cover all activities and sectors.
Implementation comes with a one-time cost that will be recovered by future efficiency.
Staff responsibilities will change to more value-added tasks.
Access to data will improve.
Accounting & tax tools must evolve faster and across national borders.
Information about how PwC collects, processes, protects and disposes of data subjects’ personal data and how data subjects can exercise their rights is available on PwC’s dedicated page: www.pwc.lu/privacy-statement
Contact us
Pierre Donis
Tax Partner and Authorised Manager of the PSF, PwC Regulated Solutions S.à r.l.
Tel: +352 49 48 48 5115
