Entrepreneurs, including many of EY’s Entrepreneur Of The Year finalists, are disrupting traditional models, often with new technologies, to develop their businesses and drive growth. But for an entrepreneur, there is nothing worse than discovering the ultimate cost of doing business will erode your profit margin and return, or that your business is not operationally organised to handle its growing complexity.
Tax is one area where this can occur.
Entrepreneurs need to think about how they respond to, and apply, the implications of technological disruption on products and services, as well as the tax implications of digital change on business operations. Companies must understand the complex questions around taxation in a digital world, such as 3D printing of goods in the supply chain or digital customer platforms that replace the physical “sale”.