Finance Executives and Boards around the world are feeling the heat from fundamental changes in attitudes and approaches to tax.
The days are gone when tax was solely an expense to be managed and minimised. Whether it is the quality of tax governance a company exhibits, pressure to be more transparent with tax authorities and investors, or society holding businesses accountable for paying their “fair share” of tax, these issues have become the subject of increased scrutiny. Inland Revenue’s 2015/16 Multinational Enterprise Compliance Guide further reinforces the expectation of Boards to take greater ownership of, and ultimate responsibility for, a company’s tax position.
The KPMG Tax Barometer has been specifically developed to enable Boards and Management to agree how tax should be managed and ensure effective processes are in place to achieve this.
By identifying the various perspectives within your organisation, with a particular emphasis on Board expectations, we can help fill gaps in understanding between the Board and Management and ensure tax surprises are highly unlikely.