Reputational risk could hinder growth, says Taxand
Full article first published in Tax Journal
The ongoing public debate surrounding the taxation of multinationals has led some people to believe that "any sort of supply chain planning" is now a thing of the past, according to Frederic Donnedieu de Vabres, chairman of Taxand.
The global tax advisers, whose clients including multinationals, hosted a conference in New York where tax professionals discussed the effect of what it called a shift in focus "from fiscal to moral responsibility".
"Media focus remains high and governments and the general public continue to deem tax planning as 'immoral'" Donnedieu de Vabres said.
He added: "In a global economic environment as fluid as it is at present, bona fide commercial business restructuring should be endorsed and even embraced, as a means of navigating the stagnant business landscape. The roles of finance and tax departments are in fact to contribute to shareholder value, alongside the need to manage their tax responsibilities across a number of jurisdictions."
This article is based on The Evolution of Business Restructuring to Combat Reputational Attack Plenary session at the Taxand Global Conference 2013: view the plenary presentation, film and media commentary here.
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