In many jurisdictions, privately owned businesses have proven to be the economic drivers and long-term engines of growth. The KPMG Private Enterprise Tax report titled Carving a new path: How private companies can contribute to future economic stability strongly suggests that supporting the resilience, adaptability, innovation and long-term focus of privately owned companies is in everyone’s best interest.
This remains relevant today as governments across the world are looking for ways to raise money to reduce their post-pandemic debt and address the decline in tax revenues.
Should governments therefore target their efforts toward more tax incentives to stimulate growth versus introducing tax rate increases? Or is it important to achieve the right balance between a mix of taxation changes and incentives?
A delicate balancing act between economic impact and taxation
Achieving sustainable growth in private companies
The tax and regulatory environment is constantly evolving and it’s important for private companies to understand the “what” and “why” of proposed tax changes and how they can impact their business.
We welcome your thoughts on the propositions we are putting forward and other issues and opportunities that you believe are important to consider.
We want to hear your views and encourage you to contact us at privateenterprise@kpmg.com or through your local KPMG Private Enterprise Tax professional.
We are committed to keeping the dialogue open with regular updates on the views of private business leaders like yourself on the KPMG Private Enterprise Tax website.
Nike Olakunri
Senior Manager, Markets & Channels, Global KPMG Private Enterprise Tax & Legal
KPMG International
