85% of Corporate Tax Dept. Say Tax Reform Proposal is "Biggest Challenge" of the Year
"Bloomberg BNA surveyed more than 250 tax professionals who work at the manager level or above for their corporate tax departments... The most fundamental challenge facing corporate tax departments is the potential overhaul of the U.S. tax code... 85% identified federal income tax reform as the biggest challenge... In light of the sweeping changes being proposed, tax professionals are greatly concerned that tax reform would not only fundamentally shift departmental priorities, but also have bottomline repercussions. For example, more than half of respondents count the following possible outcomes among their biggest challenges:
- the implementation of a border adjustment,
- limitations on interest deductions, and
- the implementation of a territorial system."
—Bloomberg Bureau of National Affairs, "Survey of Corporate Tax
Departmets 2017: Tax Reform and Global Expansion"