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Negotiating the minefield: Allen & Overy research explores challenges facing the corporate tax function

22 October 2015

With the BEPS (Base Erosion and Profit Shifting) Action Plan about to reshape the global tax landscape, Allen & Overy research has found that corporates face significant challenges in striking a balance when it comes to tax planning.

​Nearly three quarters (72%) of corporates say their approach to tax planning sometimes or often conflicts with their tax authority’s expectations. In the UK, this percentage rose to nearly four fifths (78%). At the same time, 77% say that their investors have an increased influence on their tax strategy, with many demanding more access to data and financial savings.

 Further key findings include:

  • 59% of respondents feel that tax is now very important to their firm’s overall strategy, compared to 22% saying it was very important five years ago;
  • Nearly three quarters (72%) of respondents feel tax is of the highest importance or very important to their overall strategy;

The respondents, sampled in Q3 2015, were from a range of industries and were either CEOs, CFOs, General Counsel, Tax Directors or Heads of Audit Committees in big businesses across the globe.

If you are interested in finding out more, you can find the full report here.