Governance

Governance

As attitudes toward tax management change, setting your company鈥檚 tax strategy and tax governance framework

As attitudes toward tax management change, setting your company鈥檚 tax strategy and tax ...

Tax strategy and tax function design

The attitudes of many governments, shareholders and boards of directors to tax are changing 鈥� managing tax risk and reputational issues are high on the agenda. For today鈥檚 tax directors, it is essential to meet compliance obligations, work with the business, and communicate internally and externally on the group鈥檚 tax position, while improving their efficiency and cost-effectiveness. Tax directors need to ensure their tax functions are equipped with the capabilities they need to meet these varied demands.

In the experience of 乐鱼(Leyu)体育官网 International鈥檚 member firms, setting a tax strategy, putting in place a governance framework and taking steps needed to bring it to life are the building blocks to success. Establishing the right operating model for your tax function is key. 乐鱼(Leyu)体育官网鈥檚 Tax Management Consulting team can help you:

  1. Establish a clear tax vision and strategy that is aligned with the business objectives of the wider organization and articulates how the tax function will deliver value.
  2. Determine your appetite for risk including reputational risk.
  3. Implement a governance and control framework that defines the taxes for which the tax team is responsible.
  4. Implement processes and controls to manage your tax risks across all of the taxes for which you are responsible.
  5. Create the right operating model for your tax function, mapping out the people, processes and technology you need to efficiently deliver the agreed tax strategy.
  6. Benchmark your tax function and put in place relevant key performance indicators (KPI) to drive the right behavior and demonstrate success.
  7. Get visibility over your global tax data and develop a plan to communicate your tax position and comply with legislative requirements, whether you are reporting to the tax authorities or the public.  

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