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Global Tax Benchmarking Industry views Global Tax Benchmarking Industry views

At a glance insights for Financial Services tax leaders

KPMG International conducts an ongoing survey of tax leaders around the world, which considers ranges of responsibilities, department composition, budget structures and other data points to help tax leaders assess their departments today, and consider how to evolve them for the future. Below are some of the highlights of the survey by respondents from the financial services (FS) industry. 


Central tax departments most often fall within the:

Tax Infographic chart B

Most Chief Tax Officers (CTOs) or Tax Leaders report to:

Tax Infographic chart C

Just over half of tax departments in FS are responsible for global reporting while a high proportion are responsible for domestic reporting compared to global averages (i.e. 61% global reporting and 74% domestic reporting):

Tax Infographic chart M

Only 37% of tax departments in FS use a shared service center (SSC), of which 80% have increased utilization.

Tax Infographic chart D

Responsible tax

Most tax departments have a code of conduct to frame their risk tolerance and tax decisions.

Tax Infographic chart A

Public disclosures of tax information:

Tax Infographic chart E

50% of the companies who don’t currently disclose, plan to do so in the future.

Wish list

Tax technology and additional personnel topped the list for tax leaders when asked where they would invest if they had an additional budget.

Tax Infographic chart J

Tax leaders ranked the following process improvement priorities as important or very important over the next 5 years:

Tax Infographic chart I



Tax Infographic chart L

Department performance

Performance is often measured by the impact the tax department has on the business across a range of metrics, with these five most often topping the list of importance:

Tax Infographic chart H

Business impact

Most tax departments have oversight from a board member (or board-level individual) as tax continues to rise in importance on the board agenda.

Tax Infographic chart G

Today, tax departments are often consulted on the overall business strategy for the organization. 61% of respondents have seen an increase in involvement in the last 2 years.

Tax Infographic chart F

Most companies have a tax strategy or overarching tax governance policy document that covers tax risks.

Tax Infographic chart K

Assessing today and preparing for the future

As a seasoned tax leader, you make key decisions every day to evolve your tax department in order to keep pace with unprecedented pressures, disruptive technological advancements, heightened compliance obligations and more — all while continually demonstrating value within your organization and beyond.

Benchmarking against comparable tax departments can be a powerful tool for reflecting upon the department you have today, and thinking about how you will transform it for tomorrow.

The KPMG Global Tax Department Benchmarking Survey is an ongoing initiative that is establishing a meaningful benchmark of data for tax leaders around the world.

To respond to the survey, please email

Source and notes

Global Tax Benchmarking Survey, KPMG International, 2019


  • Percentages might not add up to 100% due to rounding
  • Data as of 7 May 2019
  • Data for the FS industry was collected from the following sub-industries: Banking and Financial Services, Insurance, Asset Management, Sovereign wealth funds and pension funds and Private equity.

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