The Growth of Transparency Within the International Tax Market, 2017 and Beyond
Transparency within the international tax market is only going to grow over the coming years. CBCR and the Automatic Exchange of Information are creating transparent tax environments, allowing for further exposure to consumers and clients, who are becoming more concerned about corporate tax payments. Within tax departments we will see a continued focus on compliance, ensuring the team is following these new regulations and rules, with no companies wanting to be the one caught out.
Looking forward to the remainder of 2017 and into 2018, as we move towards a more transparent tax market, we are expecting to see an increasing number of unresolved cross-border dispute cases. With a lack of consensus surrounding BEPS and the growth of the digital economy, countries are implementing laws under their own interpretation and understanding. This will increasingly create disputes between different countries as everyone attempts to align and adapt their approaches to these new changes.