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2013: Year of Intangibles - Are MNCs Ready for the Perfect Storm?

2013: Year of Intangibles - Are MNCs Ready for the Perfect Storm?
23 May 2013

Published in TaxSutra, 20 May 2013

Taxand's Global survey reveals 63% of global businesses anticipate much greater scrutiny on intangibles from tax authorities; 61% however yet to audit their intangibles portfolio ; 70% multinationals unclear about their group's portfolio of intangibles and their ownership (within the group), 43% cos yet to recognise intangibles in their records; 70% taxpayers not currently implementing a tax planning strategy for intangibles in fear of brand damage over intangibles treatment.

Taxand 's Global Intangibles survey 2013 comes on the back of new OECD guidelines chapter on Intangibles and increased political pressure to plug loopholes to prevent revenue loss due to intangibles related tax planning strategies. While almost 2/3 of the respondents anticipate an intense focus on intangibles by tax authorities, surprisingly an equal percentage admit that they are neither aware of their group's intangibles portfolio nor adequately prepared to deal with this risk.

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Published in TaxSutra, 20 May 2013

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Taxand's Take

Taxand 's Global Intangibles survey 2013 comes on the back of new OECD guidelines chapter on Intangibles and increased political pressure to plug loopholes to prevent revenue loss due to intangibles related tax planning strategies. While almost 2/3 of the respondents anticipate an intense focus on intangibles by tax authorities, surprisingly an equal percentage admit that they are neither aware of their group's intangibles portfolio nor adequately prepared to deal with this risk.

Taxand's Take Author