Jan 5, 2026
Digital Transformation in Accounting and Finance
Governments manage financial matters. In accounting, automation and artificial intelligence became essential tools, particularly for small and medium-sized enterprises. An increasing number of routine tasks, such as bank reconciliations, expense categorization, and tax return preparation, are now highly automated, reducing human error and freeing up time for higher-value activities.
Modernization of Tax Authorities
This technological leap has been accompanied by the modernization of tax authorities. For example, the U.S. Internal Revenue Service (IRS) is incorporating more advanced digital systems and data analytics to detect non-compliance, resulting in stricter tax enforcement and requiring businesses to maintain more accurate records.
Costa Rica is also continuing its efforts to digitize tax administration processes through the Hacienda Digital Project, aimed at streamlining procedures and combating tax evasion through electronic invoicing and automated data matching.
Corporate Transparency and New Compliance Requirements
In addition, new technology-driven corporate transparency requirements have come into effect. In the United States, since late 2024, the Corporate Transparency Act requires most entities to electronically report their beneficial ownership information.
The year 2025 marked the first adaptation period for this requirement, and failure to comply may result in significant penalties in 2026.
Outlook for 2026
In summary, organizations are moving into 2026 by investing in digital tax and accounting solutions, from cloud-based management software to cybersecurity and data analytics consulting, not only to increase efficiency, but also to ensure proper regulatory compliance in an increasingly data-driven environment.