US tax reforms concern for finance directors

More than half of chief financial officers and tax directors from across Europe Asia and the Americas have altered their tax plans or delayed decisions due to uncertainty about possible US tax reforms. This was the finding of a survey carried out at a global conference in Frankfurt by tax advisory firm Taxand.

When asked about the impact of increased tax transparency 88% of respondents were concerned about the potential exposure of the information provided to meet the proposed country-by-country reporting standards. Last year the figure was 91%. In addition 96% believed increasing global tax transparency would increase the cost of compliance.

A report from EY  Tax Steps into the Light found that geopolitical uncertainty was shifting tax risk from emerging markets to economies such as the US the UK and Australia as well as China and India. Those countries represent...