Tax governance

A structured tax governance framework is crucial in today’s business landscape, for companies to manage tax risks effectively, ensure regulatory compliance, and enhance transparency and accountability.

Beyond tax risk management, tax governance also optimises tax planning for effectiveness and efficiency across businesses with ever-evolving business models.

Companies and their boards are facing mounting pressure to manage and improve ESG (Environmental, Social and Governance) performance to meet stakeholders’ expectations. They will need to consider financial, regulatory, and reputational consequences which may affect companies’ long-term viability and success.

Compounding an increased emphasis on tax governance and risk management, finance teams also face the challenge of regulatory reporting amidst resource constraints and intricate tax data.

At KPMG in Singapore, we assist companies in transforming their tax functions to align with business objectives. We help organisations build resilience, competitiveness and create long-term value for all stakeholders, through the lenses of tax governance in the context of ESG and corporate governance.

Here at KPMG in Singapore, we leverage on our tax and technology expertise within the framework of ‘Tax Governance’ to instil confidence in clients’ tax processes, tax regulatory compliance, and readiness for digital advancements.

This integrated approach strengthens tax governance practices, mitigates risks, and harnesses technology to drive sustainable business growth.

• Initial Assessment / Gap Analysis
  Assessment of tax governance needs and evaluation of existing tax governance framework against best practice

• Tax Governance Policy (TGP)
  Preparation or enhancement of core documents and practices

• Tax Risk Management Framework 
  Preparation or enhancement of the tax risk management framework, outlining the model for identifying and managing tax risks, and roles and responsibilities of key stakeholders

• Tax Operating and Technology Procedures
  Preparation or enhancement of tax operating manuals, policies, and controls

• Testing the Tax Control Environment
  Supporting tax, internal audit team or any other third party to review the efficacy of the tax control environment

• Tax Governance and Deals
  Due diligence and documentation of existing tax governance and tax risk management frameworks