CFOs at multinational companies are beginning to change their minds about using tax policy as a way out of the economic doldrums.

According to a new survey of multinational CFOs by Taxand, a global organization of tax advisors to multinational businesses, an overwhelming 87 percent of respondents from the Americas do not believe that economic turmoil can be resolved through tax policy. The 87 percent figure was significantly higher than the global average of 76 percent who responded negatively and is perhaps a reflection of historic examples of failed tax measures. In addition, 86 percent of the CFOs surveyed in the Americas have concerns over governments’ ability to assist multinational companies during a recession.

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