Among top issues: VAT and sales and use tax compliance.

Author:Heffes, Ellen M.
Position:TAX
 
FREE EXCERPT

Eighty-eight percent of indirect tax executives responding to a recent poll said they have seen an increase in activity by tax authorities in the last two years and nearly two-thirds (63 percent) of respondents are spending more time on tax compliance strategy and planning.

The poll was conducted in the fourth quarter 2012 at Thomson Reuters'annual SYNERGY Conference, where tax leaders from Global 2000 firms discussed key tax compliance challenges and opportunities.

Additional findings from the survey of 60 executives conducted during the indirect tax and value-added tax (VAT) sessions found:

* 75 percent feel that tax authorities have changed the audit process in response to economic conditions.

* 77 percent have seen increased audits in specific states or home rule jurisdictions.

* 44 percent have moved from enterprise resource planning systems to...

To continue reading

FREE SIGN UP