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If someone asked why is it a good time to be in tax, well a bit of bias I think it’s always a good time to be in tax and probably for the same reasons there’s always a lot going on, it’s always very dynamic, things are never the same and you’re always learning.
I think it’s exciting to work in tax because tax is constantly changing.
The fact that we are able to keep up with the changes and explain to the client how it impacts them is very challenging and satisfying.
It is wonderful to work in this area and KPMG for me personally provides me with a wonderful basis to inject all my efforts.
The breadth of work, the range of interactions with our clients is really what’s attracting people to tax today.
For me I always loved problem solving at school and any sort of analytical work, so not only are doing that compliance side too where you’re making sure they are compliant with any rules and regulations, but you’re also …a lot of it will be problem solving, trying to figure out what structure works best and how can I organize this company in the most tax effective manner.
If you look to the list of companies we’re working with, the companies we’ve tendered to, they are absolutely the companies that everyone would say they want to work with.
Definitely working for a firm like KPMG you have the opportunity to work on a diverse number of projects so there’s always something crazy going on, there’s always problems to solve, so it’s always exciting.
I can quite honestly say that every day I come to work I learn something new, and for me that’s an amazing feat, Im being challenged every day and I love it.
I think the biggest challenge for all multinationals at the minute is trying to create certainty and clarity in a situation where actually the world is very complex.
In our fast moving environment in tax one thing is sure and that’s change. So the challenge is to keep up to date with all the changes and then there will be lots of changes in the future aswell, and even more ideally to anticipate changes.
Multinational companies today are facing huge challenges in the area of uncertainty. Uncertainty in both the legislative environment as more and more governments are looking to tax policy to try and stabilize their economies, and uncertainty in transfer pricing as continued inconsistencies exist between jurisdictions in the way they interpret transfer pricing regulations.
In terms of the biggest challenges facing financial services organizations today, they aren’t really tax challenges, they are regulatory challenges, and that is of course then driving the tax agenda.
Everybody is talking about transfer pricing simply because states are looking for additional revenue and this is one very easy pick-up for the authorities. The other one is indirect tax because all developed countries are switching more and more the tax burden from direct tax to indirect tax.
We are certainly seeing that Indirect tax is globalizing, and what we are certainly seeing too is that the Indirect Tax Authorities are talking to each other, so if you see a new initiative coming out in Singapore it’s not going to be long before you see that initiative coming out in our region in say Australia or New Zealand or even in Japan.
I think around the world we are confronted with a number of converging trends that relate to energy prices, energy security, material scarcity, climate change and population growth. And what many governments are basically struggling to do is to find a way forward, to find a window that accommodates those major trends and allows us to adjust to them in a way that is sensible.
I absolutely believe that tax policy has created growth, particularly around the green agenda in certain countries. For example in the United States with the grants and subsidies the wind and solar capacity today compared to even 5 years ago has grown enourmously.
Increasingly we just have to learn to live with this degree of change, we have to learn to adapt to the fact that we don’t know what the world is going to look like. And so what we have to do within tax is be very much more agile.
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