Seven Trends Shaping the Future of Tax Policies
Seven Tax Trends for the Future of Tax
What does the future hold? Here are our predictions for the top trends that will influence tax policy and tax bills in the coming years, and how they will increase or decrease for tax professionals.
Corporate Compliance
Description:
Comprehensive tax control framework.
Impact on companies:
Current = LOW
Outlook = HIGH
Legislation
Description:
General anti-avoidance rules, interest deductability changes, transfer pricing, hybrid structures, double non-taxation, and treaties.
Impact on companies:
Current = HIGH
Outlook = HIGH
Transparency
Description:
Disclosing tax information to stakeholders, internal transparency of tax-related functions, strong governance, and risk management processes
Impact on companies:
Current = LOW
Outlook = HIGH
Professionalism
Description:
Tax authority administrators are better equipped to deal with complex tax issues
Impact on companies:
Current = LOW
Outlook = MED
Big Data
Description:
Advanced data and analytics capabilities
Impact on companies:
Current = MED
Outlook = HIGH
Tax Competition
Description:
Corporate tax rates keep falling
Impact on companies:
Current = HIGH
Outlook = HIGH
Balancing Conflicting Interests
Description:
Managing the diverging interests of stakeholders
Impact on companies:
Current = MED
Outlook = HIGH
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