Tax benchmarking survey for the chemical industry

A current challenge for tax professionals is identifying the right balance when planning for taxes. On one side, taxes are a significant cost to corporations and should be controlled and managed in their quest to create shareholder value and maximize earnings per share. On the other side, the amount of tax paid by corporations is coming under increased scrutiny and public debate.

Tax disclosures in annual reports provide important insight into companies’ tax affairs, with the effective tax rate (ETR) being the headline rate commonly quoted by chief financial officers when discussing related matters in the reports. Furthermore, tax is increasingly found on boardroom agendas, with directors taking a greater interest in their companies’ tax strategies and how they are being identified and managed.

PwC’s Tax Benchmarking Surveys for the chemical, transportation & logistics, industrial, and metal industries give insight to tax departments as they review their tax strategies. Additionally, they provide information on where they stand compared with their peer group, and allows them to compare the drivers of their effective tax rate with those of other companies.