The environment in which tax directors operate has dramatically changed. Economic uncertainty is pressuring companies to cut costs and drive efficiencies. At the same time, tax authorities are looking at new ways of administrating and collecting tax using technology and data.
The attitudes of many governments, shareholders and boards of directors to tax management are changing. Managing tax risk and reputational issues are priority. Meeting compliance obligations, being efficient and cost effective, working with the business, and communicating internally and externally on the group’s tax position are essential for today’s tax directors. In our experience, setting a strategy, creating the right target operating model, putting in place a governance framework and taking steps to bring this to life are the building blocks of success.
How we can help you
Our Tax Transformation practice will collaborate with you to build and operate a leading tax function that will help you manage your tax risk, reputation and compliance. We tackle these challenges with approaches in four key areas:
- Governance: What is your strategy and how do you implement it?
- Compliance: How can you meet tax rules efficiently and effectively?
- Process: How can you optimise, standardise and integrate your processes?
- Technology: How can tax technology improve efficiency and control?
We can help tax leaders:
- Establish a clear tax vision and strategy aligned to the business objectives of the wider organisation and your appetite for risk, which articulates how the tax function will deliver value
- Optimise your processes through our Lean Six Sigma approach, a powerful proven methodology to document tax compliance processes which provides a baseline for future process improvements that focus on reducing activities that do not add value whilst improving overall process results
- Develop a roadmap to enable your tax function to adapt to changes, rapidly transform and implement the strategy
- Design and implement a governance and control framework that defines which taxes the tax team is responsible for, that gives clarity over the processes and controls in place to manage your tax risks
- Benchmark your tax function and put in place relevant KPIs to drive the right behaviour and demonstrate success
