1. The Business Impact of Transparency Requirements Martin Nielsen, Tax Partner KPMG Acor Tax 12. December 2014

2. © 2014 KPMG ACOR TAX, a Danish limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative, a Swiss entity. All rights reserved. 1 Increased focus on taxes at board and management level Tax Transparency New economic realities have given rise to a focus on tax payable by companies driven by politicians, civil society and the media, as well as governments seeking to strengthen a weak fiscal position Local and global initiativesPublic vs. goverment authorityMandatory vs. voluntaryCorporate tax or all types of taxes and duties

3. © 2014 KPMG ACOR TAX, a Danish limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative, a Swiss entity. All rights reserved. 2 Country by Country report – OECD BEPS Action Plan 13 Concerns raised by businesses No materiality thresholds for CbC reporting Purpose of information vs. use by tax authorities Confidentiality of informationTransparency of tax authoritiesThe cost of complianceCountry implementation

4. © 2014 KPMG ACOR TAX, a Danish limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative, a Swiss entity. All rights reserved. The KPMG name, logo and “cutting through complexity” are registered trademarks or trademarks of KPMG International.