Finance: Tax in the Cloud [SLIDESHOW]

On a scale from 1 ("not significant") to 5 ("very significant"), respondents rated the significance of the following tax issues related to adopting cloud-based technology.

"Executives are starting to fully appreciate the potential transformative value that cloud can bring to the enterprise," says Rick Wright, head of consulting firm KPMG's global cloud enablement program. Cost reduction (48%) tops the list of objectives executives are seeking from cloud adoption, according to a recent KPMG survey, followed by business process transformation (24%) and new market entry (24%).

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However, 75% of respondents said that the tax implications of moving to the cloud play a big part in their decision-making process. While respondents also said they feel confident that their companies can overcome the various tax issues, a separate KPMG survey of corporate tax professionals indicates that less than half of the companies include their tax department in up-front discussions of cloud initiatives.

 

TAGS: Finance
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