Tax rules are currently one step behind cloud computing solutions, according to the Financial Post. Business management and shareholders could be in for some bad surprises, the website said, unless more planning takes place.

"Moving to the cloud isn’t just another change program - it’s nothing less than a complete transition of business processes," the news source said. "And it keeps evolving. Cloud computing business models are developing much more rapidly than the global taxing jurisdictions can respond with definitive and practical guidance."

Five considerations the news source said companies must keep in mind include:
- Whether their cloud solution is taxable
- What kind of intellectual property is kept in the cloud
- If compliance and financial reporting is needed once the solution is set up and ready to go
- A framework for tax and corporation governance may need to be formed to keep operations in order
- Contractual obligations previous to the cloud should be considered as well

KPMG said cross-border cloud based services may create even more tax issues for both the buyer and provider, so companies should do research before adoption.