Welcome to the 2023 edition of BDO’s Global Tax Outlook.

The global economy is emerging from the shadow of the COVID-19 pandemic, but it is facing new challenges from the war in Ukraine, an energy price shock, inflation, and persistent challenges for supply chain security.

At the same time, the world faces new tests associated with addressing climate change, an aging population, increased migration, and digitalisation.

Tax has an ever increasingly important role to play in how the globe, region, and each country, confronts the turbulence in the global economy over the coming years. We conducted our research for Global Tax Outlook 2023 through the late Spring and early Summer of 2023. Produced in conjunction with research organisation Meridian West and drawing on the expertise and insights of BDO experts around the globe, Global Tax Outlook 2023 reveals some clear trends, threats, and opportunities, that are emerging in the tax-world.

As 2023 draws to close, the purpose of this report is to highlight our key findings and to draw some conclusions on the outlook for tax.

READ GLOBAL TAX OUTLOOK 2023

Three Responses

Modern tax functions are embracing Three Reponses to tackle these challenges. By combining these responses, tax functions can optimise their effectiveness, improve compliance, manage risk, reduce costs, and focus on contributing to the organisation’s long-term commercial strategy. Download Global Tax Outlook 2023 to read the top Three Responses Tax Leaders told us they were adopting to work smarter within the constraints of its available resources.

The Sustainable Tax Function

Organisations that can successfully align their tax strategies, sustainability goals, and commercial plans, stand to gain considerably. The intersection between tax and sustainability is becoming increasingly important. The emergence of a more strategically focused, influential, tax function, in alignment with the commercial strategic direction of the organisation, will need to be reinforced with clear, effective, strategies around sustainability in tax matters. Our report analyses how sustainability is already being adopted as a key performance metric within the tax function. The connection is expected to strengthen significantly in the next few years.