Tax Risk Management

It is becoming increasingly clear that organisations should pay as much attention to tax risk as they do to other risk areas such as anti-money laundering or fiduciary risk. In an increasingly transparent environment, organisations will be asked to articulate their tax risk management framework to third parties such as regulators, revenue authorities, introducers of new business and service providers. It is therefore essential for businesses to prepare for this now.

The purpose of tax risk management as part of an organisation's overall business strategy is to avoid unnecessary tax costs, whilst ensuring sound compliance with legislative requirements. We work with clients to put in place effective tax risk management strategies that align their priorities and growth ambitions with changing international tax rules, the attitude of the public and media and the evolving approaches taken by tax authorities.

We work with our clients and provide practical advice to ensure they stay abreast of relevant international developments. We work to develop control mechanisms and policies that, from a wider tax risk management framework, can be applied at company and group levels.

KPMG can help an organisation adapt existing risk management procedures to incorporate tax risk elements or create a wholly new framework for tax risk management. Ensuring that appropriate policies and procedures are in place will become an increasingly important way of protecting an organisation from tax authority challenge.  In addition, KPMG can assist organisations by reviewing current structures to identify and advise on regularising any potential issues, either on a case by case basis or a more general manner.

Our Tax Managed Services and Tax Technology play a key part in our tax risk management offering.