Four in ten global alternative asset managers feel under pressure by regulators to change their investment structures to ensure they are compliant with tax avoidance rules, a survey has found.
The poll was carried out following the decision earlier this month by 76 OECD countries to sign the Base Erosion and Profit Sharing (BEPS) convention, that will update the existing system of bilateral tax treaties on tax avoidance.
The survey, commissioned by Netherlands-based fund services firm Intertrust, found that 41% of asset management firms are reviewing their investment structures to ensure they are BEPS-compliant.
The survey also found that 62% of organisations are restructuring their information reporting operations to support growing common international reporting standard obligations, or recognise the need to do so.
In addition, 60% of firms reported that they anticipate having to make additional investment in their business – in procedures, personnel or systems – to comply with the growing body of regulatory obligations.
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