Tax is an integral part of the board’s governance and risk responsibilities
The drivers of change in large Swiss-based multinationals’ tax functions are the subject of the latest survey “Clarity on Tax Function Transformation” by KPMG Switzerland in collaboration with the University of St. Gallen (HSG). A total of 54 of Switzerland’s largest companies contributed to the survey and the respondents were either CFOs or Head of Tax. Besides other main key areas, such as transfer pricing documentation & analysis, centralization and standardization of the tax function, employment of state-of-the-art technology as well as implications of the existing tax operating model, the respondents of the survey have an overwhelming desire to see the Board of Directors be more involved in tax matters.
Boards have to cover a wide range of areas. Time is limited and asking the right questions is therefore critical. The Boardroom Questions aim to assist directors in understanding the potential impact of a current topic on their organization and which questions may be relevant for discussion in the Board room.
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