As companies race to invest in IoT-enabled capabilities and offerings, many are still struggling to develop a robust and profitable business case for them. And all too often, one issue is that the tax aspects are not taken into account as part of the IoT value equation that drives the decision. This is a big mistake. Why? Because tax considerations can potentially make or break the value proposition for IoT investments. At a basic level, moving into IoT generally involves a fundamental transformation from selling products to selling services. This alone brings major tax implications, especially when the services are being sold across state and/or national borders.
Global Digital Tax Leader
NYM Region Tax Leader, PwC United States
Director, PwC United States