Cloud computing offers a lot of benefits, but also security concerns when it comes to tax issues. However, a recent survey by KPMG found many CPAs weren’t invited to discussions with top management about cloud computing decisions.
That raises the possibility of tax risks, lost cost-saving opportunities and decreased return-on-investment for cloud projects
“Clearly, many senior tax professionals are not being kept up to speed on their company’s plans for the use of cloud technology,” said Steven Fortier, KPMG’s cloud enablement program tax leader, in a statement. “If the tax department isn’t involved early on, an organization can end up creating substantial risk and missing out on important tax planning or incentive opportunities.”
Read the full story in Accounting Today.