KPMG donates to the School of Business to support the teaching of indirect taxation
The expert organisation KPMG Oy Ab has donated EUR 10,000 to the Aalto University School of Business. The donation is targeted to the teaching of indirect taxation.
‘The cooperation between the experts at KPMG and the School of Business is both versatile and valuable. I want to extend my warmest thank to KPMG for the donation, and I’ll follow the development of our cooperation with interest,’ says Timo Korkeamäki, Dean of the School of Business.
‘KPMG's donation provides an important additional contribution to the development of indirect taxation education. Indirect taxation is not only fiscally significant but can also be used to create incentives to accelerate the green transition,’ says Professor Petri Kuoppamäki, Head of Discipline and Head of the Master's Programme in Business Law.
There us a need need to increase tax revenues is not only in Finland but globally. When considering raising tax revenues, it is important to look after economic growth and employment. Income tax competition is very fierce, and countries are under pressure to lower their tax rates. The productivity of existing taxes must be increased, and new tax revenues must be innovated.
‘Politicians and experts are discussing ways to make VAT more efficient. A significant role has also been planned for other indirect taxes, such as energy, environmental and health-related excise duties. In 2022, the total tax revenue from indirect taxes was around EUR 36.5 billion. We want to take Aalto's comprehensive expertise in VAT and other indirect taxes to a new level. We appreciate the fact that KPMG has decided to support us in this project,’ says Marja Hokkanen, who has been Professor of Practice at the Department of Accounting of the School of Business since 1 April 2023.
So far, there has been very little teaching of indirect taxation at universities in Finland. This is despite the fact that indirect taxes are becoming increasingly important and that there is a dire shortage of experts in the field.
‘We have already organised teaching and student events together with KPMG to build a bridge between the studies and working life. I want to extend my warmest thanks to Juha Sääskilahti, Head of Tax and Legal Services at KPMG, for the donation and other cooperation, which has got off to a great start,’ Hokkanen continues.
There is a dire shortage of experts in the field
Juha Sääskilahti also confirms that the donation in question is only part of a larger cooperation. Supporting education and lifelong learning is one of the key objectives of KPMG's impact plan. This is why supporting university education and continuing the cooperation with Aalto is very important for the company.
‘We were last involved in January–February in the Advanced Course in Value Added Taxation, where Marja Hokkanen was in charge of the theory and our expert explained the role of VAT in business life. Last December, students also visited KPMG and learned about current VAT issues from our experts.’
‘VAT experts are in a great position in the job market, both now and in the future. New experts are also needed in energy taxation and new forms of taxation. We want to teach these things at the School of Business to prepare the students for the future. It’s also a pleasure to think together with other experts what kind of education and research we need to meet the expectations of society. Cooperation plays a key role in this,’ says Marja Hokkanen.