The Corporate Tax Stakes are high. Corporate income tax collections have risen from $20b in 1998-99 to $35b in 2003-04 and the race is on between the two major political parties to continue to fund their election promises from this increase. At the same time, the Commissioner is continuing to target boards of directors under the guise of corporate governance, tax legislation continues to be uncertain and lack
clarity and there is an expectation that tax professionals focus on tax risk, IFRS integration and the additional requirements imposed by the Sarbanes-Oxley Act.
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