Corporate Tax Department Pulse Survey Results
Corporate Tax Survey Results A majority of U.S. corporate tax professionals support closing loopholes while lowering corporate tax rate
The results are in
Our Thomson Reuters Corporate Tax Department Pulse Survey gauged the opinions of corporate tax professionals — from analysts to CEOs — on issues such as U.S. corporate tax reform, tax inversions, recent tax credit expirations, and transfer pricing practices.
The survey found that an overwhelming majority of corporate tax professionals are in favor of lowering the U.S. corporate tax rate, even if that assumes giving up tax loopholes.View the Full Report
Tax execs OK with closing loopholes
Seventy percent of survey respondents said they are in favor of lowering the U.S. corporate tax rate, even if that assumes the closing of current tax loopholes.
Inversions are an unpopular fact of life for large companies
Only 12 percent of all tax executives surveyed said they were in favor of moving their companies’ headquarters for tax purposes, but 24 percent said their companies are considering a relocation and/or expansion in a new region to capitalize on favorable tax rates. That number jumped to 30 percent among tax pros who worked for companies with $1 billion or more in annual revenue.
Taxes are a big factor in corporate financial strategies
When asked if the U.S. corporate tax rate plays a significant role in their companies’ global business plans, a 52 percent majority said yes. This number jumped to 59 percent among tax pros who worked for companies with $1 billion or more in annual revenue. Just 15 percent of all survey respondents (and 17 percent of large company respondents) said they expect an increase in tax exposure as a result of pending corporate tax rate legislation.