Annual Report 2019

With some remarkable results and achievements, 2019 proved to be yet another successful year for KPMG Acor Tax. We are very proud to have achieved a total increase in revenue of 33.3%. Our solid results reflect our team’s ability to collaborate seamlessly across services, bringing the best of KPMG both nationally and globally to our clients in each interaction.

The world of tax has only increased in terms of complexity. It requires optimal solutions based on knowledge and experience. Our cross-functional collaboration and deep understanding of clients’ specific demands are fundamental preconditions of our success.

During 2019, KPMG Acor Tax continued to service more than half of the top-listed companies in Den­mark and the majority of the largest Danish and foreign-based multinationals with operations in Den­mark. Our advice focuses on tax consultancy relating to establishing business in Denmark and abroad, restructuring, M&A (including tax due diligence and structuring transactions), double taxation, transfer pricing, tax controversy, expatriate services, incen­tive programmes, VAT and duties – all of those supported, connected and driven by the latest technology solutions.

2019 was the KPMG Acor Tax team's fifth year as a company. Going from few to 150+ people in five years has been an amazing journey – all driven by our extraordinary people, who with their combined passion, commitment and team spirit have shaped us as a company and our unique culture.

Each year, we conduct a People Survey, which is an important tool for our employees to raise their voice and give their opinion on a range of topics associated with their experience of working at KPMG Acor Tax. Historically, the employee engagement at KPMG Acor Tax has always been high, but it reached new heights in 2019. In 2019, our score was as high as 93%, having increased from 89% in 2018. We are extremely proud of those results.

Looking forward, we stay committed to challenging and holding ourselves accountable for building an inclusive and diverse workforce. We will continue to create the best possible work environment to foster an organisational culture that promotes collaboration.

At KPMG Acor Tax, we believe that profound consultancy breaks away from the status quo and challenges conventions and best practice. We integrate technology in and across all areas of our business and thereby support our 360 approach to clients with focus on holistic and sustainable solutions.

Over the past year, we have intensified our focus on technology. That includes both the optimisation of our internal processes using technology, development of differentiated tech solutions that add value to our clients and development of technology skills for all our employees.

We have created the first fully paperless personal tax preparation software in existence in Denmark, completely transforming the way we prepare personal tax returns. In addition, our services include data analysis tools that allow us to perform a wide variety of fact-based analyses of VAT, transfer pricing and customs. Furthermore, we have embraced RPA technology, with robots making up 2% of all our employees, and we have pioneered in incorporating artificial intelligence and machine learn­ing within internal controls and VAT analysis.

We continually seek to improve our technology development as well as the services we offer to our clients. We are proud and grateful for the trust our clients place in us and that our services create value and make a significant and positive impact. With the unprecedented changes the world is facing, we believe that our challenger mindset and our ability to bring together expertise, technology and 360 solutions are essential in providing the right answers and solutions for our clients as well as shaping the future of tax consultancy.