Good, Better, Best - The Race to Set Global Standards in Tax Management: KPMGÂ’s 2009 Tax Department Survey

The global recession is putting pressure on tax departments to deliver greater value and effectively manage risk despite significant resource constraints. This survey from KPMG International shows that those companies that get the basics right are better able to balance the risks and opportunities in this environment, allowing them to anticipate and prepare for challenges ahead.

According to this survey of 890 companies, leading tax functions recognize that sustained performance is about synergies, not trade-offs.

Highlights from the survey include:

• Tax functions in the top tier of good practices are more likely to have highly standardized tax processes, structures, and reporting lines.

• 89 percent of respondents indicate they have global standards for their tax policies and procedures, compared with 25 percent of the lowest tier.

• Half of respondents said that a shortage of staff is one of the biggest problems they face.

• 29 percent of respondents believe that their organization does not have adequate operating or administrative budgets, and 26 percent believe that investment in process improvement and technology for the tax function is too low.