What Are the Challenges of Implementing Tax Transparency?
Despite its benefits, implementing tax transparency can be challenging:
1. Complex Regulations: Navigating the complex web of tax regulations across different jurisdictions can be daunting. 2. Confidentiality: Balancing transparency with the need to maintain confidentiality of sensitive business information. 3. Resource Intensive: The process of gathering, verifying, and reporting tax information can be resource-intensive. 4. Competitive Disadvantage: Some companies fear that too much transparency might reveal strategic information to competitors.