MNCs' Asia expansion curbed by rising tax scrutiny, says survey
Fewer companies, however, considered tax dispute resolution as a challenging issue in 2012 compared to a year ago. Multinationals also saw a marked improvement in their relationship with tax authorities in Asia over the last year, with 94% of companies noting an improvement this year compared to 71% companies in 2011.
Many companies desire a harmonisation of tax laws in the region. Mukesh Butani, Head of Taxand Asia, said global firms doing business in Asia desire a harmonisation of tax laws in the region. “Our survey has produced an interesting set of results, perhaps most notably, the desire of multinational companies operating in Asia for the simplification that harmonisation offers,” he said.
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