Business insights from around the world. Available in 25 languages
KPMG Capital focuses on investments and opportunities in the Data & Analytics space.
KPMG's Global IFRS Institute provides information and resources to help Board and Audit Committee Members, Executives, Management, Stakeholders and Government Representatives gain insight on the evolving global financial reporting framework.
KPMG goes beyond the data, taking you from insight to opportunity.
Mining organizations need to adapt across the mining asset lifecycle, from expansion to closure, as changing economic, political and regulatory environment demand greater flexibility.
The Chemical industry’s landscape is changing fast - global companies are developing or launching new products and services – and appear optimistic - setting sights on geographic expansion.
A series that explores how governments must respond to the global megatrends driving change into 2030.
The Change Readiness Index assesses the ability of 90 countries (developed and developing) to manage change and cultivate the resulting opportunity.
The global job search tool allows you to search available career opportunities within many of our 150 member firms worldwide.
KPMG's International Case Competition (KICC) is a chance for students to challenge yourself to solve a real business issue and an opportunity to meet new people across the globe.
I’m César Catalán, I’m a tax partner in the Mexico City office and in charge of the indirect tax practice.
I think that the Mexican government is proposing several social programs that could be supportive on several reforms. For example, the anti-money laundering law, the labor law, and the tax reform that is focused on the VAT. In that case, they are also combining these different laws to get more resources to support the social programs. For example, the VAT law could increase the tax rate, or include, say, the food and medicines that now are not taxed in Mexico. So actually, we can see the trend in the world, around the world, that medicines and food are taxed for 90% of the countries, so that’s important, and Mexico is going on the same trend.
I think that the tax authorities are more aggressive to collect and support the social programs, as I said. So the most important challenge that the companies could face is the compliance work, fulfill the compliance work in efficient and efficacious manner, so the technology, the tech or systems support that they could have, it’s pretty important to fulfill these obligations.
We can see that the Mexican companies need to increase their system supports for the tax obligations, because the challenges that now the tax authorities have require more time, focused on planning, cash flow, or risks, evaluate the risks of the company, the reputational issues, so now we think that it’s pretty important that the companies invest in technology to support the compliance and leave more time to those different functions that are more important than the compliance.
I was suggesting to the tax directors, the main suggestion would be that they have to be specialized. For example, in that case, in the case of the tax reform related to the VAT, we think that they need more specialization on that kind of taxes, indirect taxes, but also they need to invest in technology to compliance in order to have more time to the planning, to evaluating risks or reputational issues, board meetings, and cash flow objectives.
The most important challenge that they have is precisely the specialization. I think that to leave the crisis behind, they need to be specialized and use technology as a tool to comply with tax obligations.
KPMG International Cooperative ("KPMG International"), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.