The Business Impact of Transparency Requirements

Martin Nielsen, Tax PartnerKPMG Acor Tax

12. December 2014

© 2014 KPMG ACOR TAX, a Danish limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative, a Swiss entity. All rights reserved. 2

Increased focus on taxes at board and management level

Tax Transparency

New economic realities have given rise to a focus on tax payable by companies driven by politicians, civil society and the media, as well as governments seeking to strengthen a weak fiscal position

Local and global initiatives

Public vs. goverment authority

Mandatory vs. voluntary

Corporate tax or all types of taxes and duties

© 2014 KPMG ACOR TAX, a Danish limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative, a Swiss entity. All rights reserved. 3

Country by Country report – OECD BEPS Action Plan 13

Concerns raised by businesses

No materiality thresholds for CbC reporting

Purpose of information vs. use by tax authorities

Confidentiality of information

Transparency of tax authorities

The cost of compliance

Country implementation

© 2014 KPMG ACOR TAX, a Danish limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative, a Swiss entity. All rights reserved.

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