Taxand’s annual global survey of multinational CFOs has shown that multinationals are split as to whether BEPS will create a more sustainable global tax system. 52% of respondents agreed that it would do so; while 48% disagreed. This compares with Tax Journal’s own survey of 75 tax directors/heads of tax, where 55% said they were sceptical that the OECD’s BEPS project would meet its objectives.
While the OECD aims to achieve a more sustainable global tax landscape, the lack of clarity on key issues will mean further confusion for multinationals as to how operationally they should implement BEPS. The Taxand survey found that while 80% thought that tax initiatives intended to fundamentally reform the international tax architecture are desirable, only 55% think this is achievable. Meanwhile, 83% of respondents believe that enhancing global tax transparency will increase the cost of compliance.
Taxand’s annual global survey of multinational CFOs has shown that multinationals are split as to whether BEPS will create a more sustainable global tax system. 52% of respondents agreed that it would do so; while 48% disagreed. This compares with Tax Journal’s own survey of 75 tax directors/heads of tax, where 55% said they were sceptical that the OECD’s BEPS project would meet its objectives.
While the OECD aims to achieve a more sustainable global tax landscape, the lack of clarity on key issues will mean further confusion for multinationals as to how operationally they should implement BEPS. The Taxand survey found that while 80% thought that tax initiatives intended to fundamentally reform the international tax architecture are desirable, only 55% think this is achievable. Meanwhile, 83% of respondents believe that enhancing global tax transparency will increase the cost of compliance.
