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Indirect taxes likely to be in forefront As governments pursue taxpayers, PwC says
BNA Daily Tax Report featuring Thomas Boniface, Brian Goldstein and John M Cooney
Indirect taxes are likely to come to the forefront in the year ahead as taxpayers confront complex value-added taxes abroad and US states work to create taxing nexus in new and onerous ways at home, PricewaterhouseCoopers LLP practitioners said Jan. 27, 2011.
“We suspect that 2011 is going to be a big year for indirect taxes,” John Cooney, a partner in PwC's Houston office, said during a webcast. He said enforcement activity is increasing as cash-strapped governments seek more revenue and states are seeking nexus for online sales and business activity through legislation and other means.
“We really see a perfect storm of indirect taxes affecting taxpayers in a way they never have before,” Cooney said. He noted that both state corporate taxes and income taxes are down significantly, with a much smaller decrease in state and local sales taxes.
Reproduced with permission from Daily Tax Report 19 DTR G-2 (Jan. 28, 2011) Copyright 2011 by The Bureau of National Affairs, Inc.
Indirect taxes are likely to come to the forefront in the year ahead as taxpayers confront complex value-added taxes abroad and US states work to create taxing nexus in new and onerous ways at home, PricewaterhouseCoopers LLP practitioners said Jan. 27, 2011.
“We suspect that 2011 is going to be a big year for indirect taxes,” John Cooney, a partner in PwC's Houston office, said during a webcast. He said enforcement activity is increasing as cash-strapped governments seek more revenue and states are seeking nexus for online sales and business activity through legislation and other means.
“We really see a perfect storm of indirect taxes affecting taxpayers in a way they never have before,” Cooney said. He noted that both state corporate taxes and income taxes are down significantly, with a much smaller decrease in state and local sales taxes.
Reproduced with permission from Daily Tax Report 19 DTR G-2 (Jan. 28, 2011) Copyright 2011 by The Bureau of National Affairs, Inc.
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