Business Daily from THE HINDU group of publications
Saturday, Dec 15, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Saturday, Dec 15, 2007 ePaper | Mobile/PDA Version |
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Opinion
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Taxation Key findings of ‘tax risk’ survey 2007 Three of the five organisations felt that ‘unpredictable ruling’ by tax administrator is the most important factor contributing to tax risk challenges in the present scenario. Nearly three-fourths of the surveyed companies are conservative in their approach and do not want to litigate for settling tax-related issues. More than half the respondents see ‘image damage’ as the top concern due to tax risks, surpassing ‘opportunity to save cost and potential levies’. One in two respondents believes that functional departments are primarily managing risk issues across industry sectors. ‘Effective contingency planning’ is in place for 87 per cent of multinational organisations, as compared to 69 per cent in Indian companies. IT/ITeS firms perceive higher risk on account of compliance to tax regulations, accounting procedures and failure in these and transactional aspects. More Stories on : Taxation
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