Average global effective tax rate increases two percentage points in three years for industrial products and automotive sectors. The steady upward trend in average effective tax rates globally from 2010 (26.1 percent) to 2012 (28.3 percent) took place despite a reduction in statutory rates of corporate income tax around the world.
Tax rate benchmarking can give company executives valuable data and insight into their tax functions, helping them to evaluate departmental strategy and performance.
PwC's 2013 edition of Assessing tax, a benchmarking study for industrial products and automotive sectors, provides a detailed analysis of tax rate metrics for 316 companies to highlight related trends overall and for each sector reviewed.
This year’s report begins with a special report on comprehensive tax reform. Addressing multiple perspectives on the issue, the discussion delves into approaches to tax reform, recent tax reform developments, and the opportunities and potential impacts of business tax reform, both domestic and international.
Additionally, the report outlines recent tax reform proposals, and how efforts such as the House Ways and Means Committee bipartisan working groups and the Senate Finance Committee bipartisan member meetings are helping to drive toward tax reform legislation.
To gain benchmarking insights and leverage this study to support your organization’s tax strategy, download a copy of Assessing tax.