TaxPersonal TaxUK first for KPMG launches as it launches e-tax unit

UK first for KPMG launches as it launches e-tax unit

KPMG has become the first Big Five firm to open a new tax practice unit in the UK, writes Alex Miller.

The opening of ‘e-tax solutions’ is a response to the e-business boom, and followed the creation of a similar electronic commerce tax services practice in the US last year.

The firm said increasing client demands for technical tax expertise created by online business is expected to contiune spiralling upwards.

The e-commerce tax group focuses on developing and delivering solutions to address direct and indirect taxes applied to e-commerce.

Graham Ross, partner in charge of the new group, confirmed it would focus full-time on e-commerce tax issues.

‘The group will focus on helping clients do business over the Internet, in order to structure global business models that will minimise e-commerce tax issues,’ he added.

It has 22 partners and senior level staff, although the number is likely to double by the end of the year.

The announcement follows a survey last month which found Top 50 firms embracing e-commerce but forgetting the euro.

According to software house Access Accounting, 67% of firms quoted e-commerce as their key issue.

Meanwhile, the government is expected to make the E-commerce Bill law by April 2000 as part of its plans to make the UK ‘the best environment worldwide in which to trade electronically’.

Revenue to offer 5% discounts for taxpayers who file electronically

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