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CFO Insights — Transforming tax in an age of reform

Published on: May 03, 2018

When U.S. tax legislation was signed into law in December 2017, many CFOs may have felt a sense of relief. After all, a corporate tax cut ranked as their top public policy concern based on a 2017 CFO Signalsquarterly survey. But, as it turns out, reduction does not mean simplification. In fact, the new legislation introduced a host of complexities and uncertainties that may not be clarified for years.

That may be why in the most recent CFO Signals survey, 60 percent of respondents said they expect high complexity in implementing the new laws — and one-third cited the need to strengthen or restructure their tax function.

In other words, whatever bottom-line benefits tax reform may usher in, it also is creating a need for CFOs and tax leaders to rethink their tax departments — and how much they want to invest in them — as the overall tax liability seems poised to drop, perhaps significantly.

In this issue, we’ll explore why and how CFOs should reevaluate how the tax function is structured, and how it might contribute a new level of value to the organization.

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