Tax: an item on Boardroom agendas
First published in Accounting and Business Magazine, June 2014
According to the 2014 global survey from global tax advisor Taxand, 70% of CFOs say tax is an item on boardroom agendas.
Unsurprisingly, this heightened focus on tax is driven by its growing complexity, both domestic and international.
Public scrutiny aligns tax risk with reputational risk, and public ‘tax-shaming’ is not going to affect just the likes of Google, Starbucks and Amazon. In fact, 76% of CFOs surveyed by Taxand believe such exposure and scrutiny could damage any company’s reputation. Moreover, 31% admit the media spotlight has made them change their own approach to tax planning.
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