WSJ Quotes Mark Allison on Benefits to U.S. Companies Complying with Tax Authorities
Mark D. Allison spoke with the Risk & Compliance Journal of The Wall Street Journal concerning how vital it is for U.S. corporations to remain in compliance as foreign countries become more aggressive in identifying companies trying to avoid paying taxes. "It's not just the financial costs that need to be considered," Mr. Allison said, as corporations are also having to weigh the impact of reputational problems that might arise from tax evasion cases that make the news, or if top executives are found to be evading taxes on their personal income. "It doesn't take much in procedures to avoid that damage. Corporate clients are more astute in implementing things, and those costs don't need to be that great," he said, as firms can use tools developed for their anti-money laundering programs and tweak them for use in their tax programs. For the full article, please visit the WSJ's website (subscription required).
- Senior Counsel