As tax authorities turn their attention to the OECD’s Base Erosion and Profiting Shifting (BEPS) recommendations, many companies and their CEOs face a future where much more detailed tax and financial information is required of them.
In the coming years CEOs across the world will find themselves in a new environment that demands far greater transparency about their tax affairs.
As such, the PwC 19th Annual Global CEO Survey reveals that seven in 10 CEOs are concerned about the increasing tax burden borne by their businesses – some 15 percentage points higher than the levels of anxiety seen in 2012.
The survey says many countries are facing enormous debt burdens and the priority for many governments has been to ensure that their tax systems generate the revenue they expect.
Corporate taxation has become a matter of significant public interest. This is no surprise. People are more concerned during difficult economic times about where tax revenue is coming from and that everyone, particularly those with the most, are paying their fair share.
For more on the PWC 19th Annual Global CEO Survey go to http://pwc.to/2nXn4CV