KPMG 2020 CEO Outlook KPMG 2020 CEO Outlook

The COVID-19 crisis is making demands of CEOs that few people could have predicted just months ago, and in many ways, has already redefined leadership. Every person, business and country has somehow been impacted by this pandemic; all are at different stages. For many, uncertainty is the only certainty. 

In an effort to bring some clarity to the complex world we find ourselves in, KPMG interviewed thousands of CEOs from many of the world’s largest companies, first in January and then again in July and August, to get their perspectives and to understand how their priorities have changed. We asked about their confidence in the future and examined how they are approaching this once-in-a-generation crisis. 

We analysed the insurance data cut form the global survey and created the following points of views based on the most significant data points coming out of the results. What we have been provided with, is a unique snapshot of the views of insurance CEOs, their current mindset, business concerns and priorities at this unprecedented time. 

On March 3, 2020, the Court of Justice of the European Union (CJEU) rendered its decisions in three cases, (C-482/18), (C-323/18) and (C-75/18), each of which concerned aspects of Hungarian law. The CJEU decided that the EU freedom of establishment does not preclude Member States from levying a progressive tax on turnover, the actual burden of which is mainly borne by companies controlled from another Member State. The Court also ruled that Hungarian advertisement tax penalty regime disproportionately affected companies located in another EU Member State and was therefore contrary to the EU principle of freedom to provide services.

For more information, please refer to Euro Tax Flash Issue 426.