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Global 2000 Study Predicts Tax Challenges for 2009

GRC Announcements | November 13, 2008

A recent survey of Global 2000 transaction tax leaders conducted by transaction tax management provider Sabrix revealed an array of transaction tax compliance challenges and strategies in the context of current global economic conditions.

According to those surveyed:

  • 61 percent believe that the financial crisis will make it more challenging to achieve sales and use tax.
  • 88 percent believe that state and local revenue shortfalls will result in an increased number of audits.
  • 68 percent believe the current economy will make sales and use tax a more strategic focus of their company.
  • 73 percent view VAT/GST as the top tax risk for global finance directors due to the integration of the global economy.

“In these fragile economic times, cash burn and the monies a company owes to tax authorities around the world must be managed carefully,” said Steve Adams, president and CEO of Sabrix. “CEOs are...

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