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REVIEW 2 0 0 9 5 ec Editorial TAX Krister Andersson, Chairman, Fiscal Affairs Group BUSINESSEUROPE, Head, Tax Policy Department Confederation of Swedish Enterprise. The last year has been characterized by a financial crisis and an economic downturn. Many businesses have experienced severe setbacks, and in an attempt to survive as a business, cost reductions and business restructuring are on everyone's mind. We have already seen major changes in the financial landscape, and I am sure that we will see drastic changes in the corporate sector in the years to come. Taxes may not be at the centre in all of this, but every business decision will also have tax consequences. Many States have changed their tax rules in response to the recession. Carry back of losses, accelerated depreciation of assets, and postponement of tax payments are some of the measures that have been enacted. Despite the day-to-day difficulties we witness, major challenges in the tax area are still ahead of us. Huge deficits are now piling up, and the need to secure tax revenues in the future could make governments and tax authorities disregard sound taxation principles, such as only taxing net profits (allowing full recognition of
EC Tax Review – Kluwer Law International
Published: Oct 1, 2009
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