June 20, 2013 / 22:58 IST
This global survey by KPMG provides insights from 1,150 tax executives based in 22 countries, including India on current regulatory, economic and tax administration issues and how tax departments are responding in the way they structure, develop and invest in people, processes and technologies to deliver on their overall tax strategy objectives and priorities. It is designed to assist companies consider the operational strategies they can adopt as they seek to ensure the tax department remains effective and improves its performance as a key contributor to the overall success of the business.
The current survey shows that tax departments have markedly improved in aligning tax strategies with overall business objectives and gaining senior corporate leadership formal input into these strategies. They are also making progress on improving standardization and efficiency. However, tax departments still seem to have much more work to do on increasing integration, alignment and support to other business functions. Key results
• 93 percent of tax departments have a strategy that aligns with their overall business strategy
• 77 percent of tax department strategies are board-approved
• over three-quarters of respondents have performance measures related to reporting and compliance
• 76 percent of respondents now have a headquartered tax department
• 62 percent of tax departments are engaged in or considering overall tax strategy and operational reviews
• less than 40 percent are “integrally involved” in finance function transformation initiatives
• two-thirds of tax departments are currently involved in tax controversy
• over half of respondents say tax authorities have become more focused on tax and accounting processes and controls, tax strategy and risk management, and technology in the last 12 months
• 79 percent of respondents are satisfied with their administrative budgets
• only one-third of time is expected to be spent on effective tax rate optimization, cash tax planning, process improvement and integrating with the broader business.For more information on the survey results please read the two attached reports (Global, India)Disclaimer: The information/opinions expressed in this report/newsletter are those of the author. This website has not verified the accuracy of the claims made in the report/newsletter, nor does it agree or disagree with or endorse any information/opinions contained in this report/newsletter. 
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