This Q&A document summarizes the key issues addressed in the PwC webcast, Tax Audits in the Alternative Investments Industry.
Federal and local governments are under increased fiscal pressure; many tax jurisdictions are operating in a deficit and are looking to raise capital from all sources, thereby increasing the number of audits they perform, particularly in the asset management industry. Investors are no longer passively sitting on the side lines. They are demanding transparency, focused on risk assessments and don’t want to be surprised with adverse news. As a follow-up to our webcast regarding Tax Audits in the Alternative Investments Industry, this Q&A summarizes the issues that PwC addressed.