With the aftershock of global recession lingering, it is hardly surprising that tax authorities around the world are firmly focused on ensuring they receive all the revenue they deem is due to them.
But, for businesses with international operations, keeping on top of those complex different jurisdictional tax requirements – as well as of any new ones that arise as the business expands into new markets – can be a hugely complicated and expensive task. Worse, it can also shift their finance director’s attention away from more strategic, value-adding business opportunities.
The result? In addition to the well-documented increase in companies outsourcing their back-office finance work, many now think that more and more tax compliance work will be added to the outsourcing mix.
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In the first article of a series exploring recent tax developments and the challenges they present to companies in the UK, Lydia Challen looks at the key tax issues affecting CFOs
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