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Corporate tax is moving out of the background as companies confront growing regulatory and operational demands.
According to Vertex, Inc., Chief Strategy Officer Chirag Patel, who shared insights at the Gartner Finance Symposium, chief financial officers are now at the forefront of tax transformation as tax functions become more intertwined with broader business strategies. Patel's remarks signal a shift in how organizations treat tax strategy, with CFOs taking a proactive leadership role instead of relying solely on compliance teams. As tax landscapes become more complex, integrating advanced tax technology is quickly turning into a strategic imperative for top finance leaders.
Earlier this year, Vertex cautioned that declining U.S. state reserves and federal funding could lead to significant indirect tax policy changes, according to a company statement. The tax software provider also marked Pride Month by introducing its Pride Forward initiative focused on workplace inclusion. These actions reflect the company's engagement on both fiscal and organizational fronts.