Lost in the cloud

Business may be booming in the cloud, but many companies are still lost when it comes to the tax implications of doing business there. Results from our Tax in the Cloud Benchmarking Survey emphasize the need for greater alignment between tax and cloud business strategy, increased investment in infrastructure to support tax data, and much-needed improvements in transactional transparency.

Key Highlights

  • 92 percent of survey respondents acknowledge they are not taking advantage of existing statutory credits for investing in cloud.
  • 85 percent said their company is not investing in a new data center and 67 percent said they are not planning to consume infrastructure as a service in the near future, signaling a distinct disconnect between tax and business strategy.
  • 51 percent report that they have data limitations for tax reporting, planning, and audits.
  • 51 percent of cloud providers are challenged by the ability to develop a process to understand transactions occurring within their organization.
  • 36 percent cite correctly identifying and calculating tax obligations and filing returns as the biggest issue related to doing business in the cloud.

Additional Resources

KPMG TaxWatch

KPMG TaxWatch offers tax professionals timely information needed to do their jobs more effectively. Through a series of webcasts, seminars, and Podcasts, KPMG summarizes current tax, regulatory, and legislative developments, and discusses how those developments might affect your business.

KPMG Tax Governance Institute

KPMG's Tax Governance Institute creates an open forum for board members, corporate management, stakeholders, and government representatives to share knowledge regarding the identification, oversight, management, and appropriate disclosure of tax risk.