A global survey by a tax advisory organisation has offered insights into how multinationals (MNEs) are reacting to a period of significant change in global taxation.
The Survey demonstrates that multinationals feel caught in the crossfire with all the changes going on, as they prepare for the post-BEPS world. Companies have changed their corporate growth strategies due to increasing scrutiny and over half have seen an increase in tax audits instigated by tax authorities in the past year.
According to the Survey, respondents were “mixed” as to whether BEPS will create a more sustainable tax system. There appears to be a clear appetite for reform, with 80% of the respondents stating that initiatives to fundamentally reform the international tax framework are “desirable”. However, it remains unclear how the recommendations of the OECD will be incorporated.
Read the full article in Issue 9 for 2015 of the Thomson Reuters Weekly Tax Bulletin.