KPMG International is again delighted to sponsor the 2006 Financial Services Industry Guide. The financial services sector continues to face unprecedented pressures of change. Major developments in regulation and corporate governance, changing customer demands and advances in technology have far-reaching implications for businesses in the banking, insurance and investment management sectors. Tax law has also developed rapidly, driven not only by national fiscal agendas but also by the influence of supra-national organizations such as the EU and the OECD. This has been accompanied by a hardening of attitude by many fiscal authorities as countries try to protect their exchequer revenue in the face of ever-increasing internationalization of business. In this environment, managing and controlling tax liabilities in a multinational financial services organization is a complex task involving a wide range of skills and requires the buy-in and support of the whole of an organization.
June 30 2006
