An Affecton Tax Journal study shows that public opinion is one of three stakeholders in companies’ tax strategies. Roy Millman and Tom Duffy report
Tax directors are now being stretched in three directions – by regulation by community and by competition – in a new era that is seeing tax departments re-evaluate their strategy to fit present day conditions.
The 2013 Affecton Tax Journal survey of leading tax department heads in the UK and follow-up face-to-face discussions have found that community and public opinion are now a stakeholder in companies’ tax strategies at a time when regulation is also being significantly strengthened and fiscal authorities use public concerns to raise the stakes in their enquiries (see figure 1).
