With the market for cloud computing projected to soar from $40.7 billion in 2011 to $241 billion in 2020, companies have a powerful incentive to change their business models to support cloud-based commerce.
As companies continue to embrace the cloud, there is a growing need for tax departments to identify and understand the unique tax issues that arise when utilizing the cloud. There are a number of challenges and opportunities that come into play when adopting a cloud business model, and considering the tax implications may improve a company's bottom line performance and operating effectiveness.
While business may be booming in the Cloud as organizations look to drive innovation, improve time-to-market, and lower costs, many companies are seemingly lost when it comes to the associated tax implications. The survey results indicate that the continued trend toward Cloud solutions often presents significant challenges for tax departments which require greater alignment and early involvement with their organization’s Cloud business strategy.
Click below to access the survey results.
KPMG has hosted a series of webcasts highlighting the tax considerations inherent in adopting cloud for your business.
Learn from KPMG professionals who examine the potential tax implications of adopting cloud for your business.
KPMG member firms take a look at how tax authorities are approaching the challenge of cloud computing, by examining the provisions in place, the likely interpretations and potential taxes applied.
Click below to access the online tool.
For further information about KPMG services around Tax in the Cloud, please contact:
Principal - Cloud Enablement Program Tax Lead