Taxand the CFO: Understanding Tax Changes as Economies Worldwide Drive Efficiency

Taxand is pleased to announce the results of our second annual Taxand Global Survey The survey was conducted with an exclusive selection of our large, multinational clients located across the Americas, Europe and Asia, in order to examine the pressing tax challenges affecting businesses today.

See highlights of the survey results below, and Taxand's Take on some of the key issues revealed in the report.

Download your copy of the Taxand Global Survey 2012 research report
Read our Wall Street Journal: CFO Journal media coverage

To discuss how these trends are affecting your business specifically, please contact your local Taxand advisor

Highlights

• Tax Moves Up Board Agendas - unprecedented change at rapid speed increases the importance of tax by 16%
• Multinationals Battle for Investment - now the largest growing concern for multinationals (an increase of 5%)
• Harmonisation - the Double-Edged Sword - 75% multinationals desire tax harmonisation.  At what cost?
• Increased Dialogue Between Authorities and Multinationals - 84% multinationals cite improved relationship with tax authorities
• The Rise of Citizen Activism - 72% multinationals believe public exposure is/has been detrimental to company reputation
• Increased Pressure on Tax Resources - 6% increase in multinationals with tax resources under stress
• Multinationals: "Tax is Not the Answer" - 76% of our respondents believe that economic woes cannot be solved by tax policy

Taxand's Take

Here are some key steps you can take now to address the issues uncovered:

• Multinationals must ensure sufficient resources are allocated appropriately to meet rising demands from tax authorities 
• Be prepared to report, be quick to respond, and use all tools in disputes
• To ward off unwanted scrutiny, multinationals should establish protocols, regularly document the status of tax audits and focus on accurate record-keeping 
• Only engage in commercially driven transactions and beware of retrospective legislation
• Keep abreast of change and consider operational structures to maximise competitive moves for investment
• Multinationals beware of the political will for information exchange, and the consequent compliance costs

Download your copy of the Taxand Global Survey 2012 research report

To discuss how these trends are affecting your business specifically, please contact your local Taxand advisor

For Taxander quotations and more opinion, please read our press release

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