E&Y: Global Tax Risk, Controversy on Rise as Governments Seek Revenue

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Tax controversy and risk are rising around the globe as governments seek more revenue and join forces with other administrations to enforce tax laws, according to a new, comprehensive survey by Ernst & Young LLP. “There has been a significant increase in potential risk related to controversy around the world,” Debbie Nolan, a partner in E&Y's Tax Controversy and Risk Management Services group, tells BNA. She notes that as cross-border activity skyrockets, “[t]here is a growing need for achieving levels of certainty and resolving issues sooner rather than later. The challenges can be really, really daunting.”