KPMG is predicting a dozen key tax issues that will be confronting businesses next year, including the taxation of cloud-related activities, base erosion and profit shifting in multinational corporations, and the far-reaching consequences of the Foreign Account Tax Compliance Act.

• Manage Efforts Related to the Foreign Account Tax Compliance Act – Implementation has evolved since the enactment of FATCA, but it is clear that implications surrounding this new regime are wide-ranging for foreign institutions, U.S. financial institutions, and non-financial entities that make withholdable payments to non-U.S. entities. Companies will need to continue assessing their FATCA status and their resulting compliance obligations.

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