A new wave of cooperation between governments and the global financial services industry is needed if consumers around the world are to be encouraged to save and create an alternative to the wholesale markets as a source of capital, says a new survey from KPMG’s Global Financial Services Tax practice.

Recent research by KPMG International has confirmed what many commentators have already suspected: that tax departments worldwide are facing an unprecedented increase in workload - in some cases up to 100 percent - as they strive to deliver stakeholder value in an increasingly complex and challenging tax environment.

A new KPMG International study, The Governance of Tax, explains how companies can turn their tax policies into competitive advantages by good tax management and adopting clear, well thought through communication.