Playing to win: Results from KPMG’s first tax outlook study
Playing to win: Results from KPMG’s first tax outlook study
Insight

Playing to win: Results from KPMG’s first tax outlook study

Last month, we released the results of our first chief tax officer (CTO) outlook study, which surveyed 300 U.S. executives who are their organizations’ most senior tax decision-makers in the tax function.

We were interested in learning more about the issues and opportunities that top tax executives see ahead for their departments and organizations and how they are responding to disruptive technology, shifting regulatory requirements and dramatic reform.

Our study shows that the CTO’s role is transforming, highlighted by greater collaboration with other executives across the entire organization and a push for increased value from the tax function. Today’s chief tax officers are much more than their title implies, as they embrace the untapped potential of technology, respond to the challenges of global tax reform, and work to give their teams the technical and “soft” skills to meet evolving demands of tax regulation and their businesses.

Some key findings include:

  • 75% of CTOs are bullish on the global economy and company growth over the next 12 months and the next three years
  • 85% of companies are addressing global tax reform at the board or audit committee level
  • 64% of CTOs are planning to make changes to their organization to accommodate tax planning
  • 45% of CTOs believe their department is keeping ahead of technological innovation
  • 76% of CTOs say investment in data and analytics and in emerging technologies will see the biggest increase in the tax function over the next 12 months
  • 96% of CTOs say their role has changed since taking over the CTO function

For more findings and insights from the survey, download the full report, Three-Dimensional Chess: An outlook survey of Chief Tax Officers in the age of tax reform and disruptive technologies, here.