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Transfer pricing dominates tax concerns

Baker Tilly International’s Ines Paucksch, global international corporate tax lead, and Androulla Soteri, tax director, report on transfer pricing as a dominating concern for multinational businesses

In 2018-19, the Baker Tilly network conducted its first international tax survey exploring the sources of tax uncertainty in an increasingly globalised economy, and the impact of these on daily business.

Findings revealed that transfer pricing and permanent establishments topped the list of concerns for multinational businesses. A year later, and those concerns continue to dominate.

These were among several of the key findings from the network’s 2019-20 international tax survey, which was released early in the first quarter of 2020. The survey was conducted before the global Covid-19 pandemic struck.

While transfer pricing and permanent establishments continue to top the list of concerns keeping the C-suite awake at night, concerns over the handling of tax disputes with authorities and the impact of technology have rocketed.

Legislative changes such as the ATAD, DAC 6 and the US Tax Reform, along with any expected changes resulting from Brexit, surprisingly featured lower down on the list of concerns for clients, possibly indicative of businesses being attuned to dealing with changes of this nature in a way that they are not equipped to address the heightened use of technology by tax authorities and the consequential impact on how tax is assessed and enquiries arising.

 

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