If you’re a tax executive at a large company in north America or europe, chances are you’ve felt the downturn’s squeeze. In a recent survey among senior tax personnel at U.S., Canadian, and european companies, CFO Research Services found evidence suggesting that many tax departments on both sides of the Atlantic have responded to the downturn’s “do more with less” mandate by postponing improvement initiatives, even as taxing authorities turned up enforcement pressure in an effort to maximize revenues.
The tax executives who responded to our survey anticipate that effective tax planning will become an increasingly important focus in the coming years, and they recognize that investing in improvements aimed at high-value planning activities would make a substantial contribution to tax’s ability to fulfill that mandate. But with few resources to go around—and a long list of priorities—how can tax executives successfully make the business case for improvement to their CFOs?
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