Industry 4.0 Raises Numerous Taxing Issues

The business world, having reinvented itself multiple times, is in the midst of a fourth industrial revolution that features the economic and social fusion of the physical and digital worlds. Industry 4.0 is not a phenomenon limited to technology companies. Businesses in all sectors are, or soon will be, evaluating and adopting new models that take advantage of technological advancements in order to create additional value for their existing and potential customers.

In response, global tax systems have and will continue to transform and adapt to new business concepts and models. Even though the need to evolve is well understood, the prospect of change creates immense uncertainty for businesses and governments everywhere.

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