In 2022, KPMG Private Enterprise Tax published a reported titled “Carving a new path: How private companies can contribute to future economic stability”. It strongly suggested that supporting the resilience, adaptability, innovation and long-term focus of privately owned companies is in everyone’s best interest.
That priority has not changed. If anything, it is even more relevant today as governments across the world are looking for ways to raise money to reduce their post-pandemic debt and address the decline in tax revenues that are resulting from an economic slowdown. It continues to be our view that businesses are able to respond more productively to measures that support the growth, resilience, adaptability, innovation and long-term focus of private companies, than they are to tax increases.
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