Many organisations are now required to legally disclose their tax strategy and in doing so need to ensure that they can confidently talk about tax to a range of stakeholders in the knowledge that what they say externally aligns to internal practice.
Beyond legal requirements, a tax strategy must be intrinsically linked to the commercial and overall strategic objectives of an organisation. Poor tax management and lack of governance can have a negative commercial impact on the business. This requires a new approach to setting a tax strategy, connecting with wider finance and operational stakeholders to define the role of tax management within the organisation.
It also requires a consideration of how the latest innovations in tax technology can be utilised to make the management of tax more efficient and effective. And then to ensure the strategy is implemented effectively, ensuring tax is at the heart of the enterprise wide framework for risk and opportunity management – a requirement that is increasingly being driven by the OECD who now have a clear view on how large organisations should approach the management of their tax control framework.
To achieve a tax strategy that aligns to your wider commercial aims and objectives, it is essential to engage in a collaborative exercise with internal and external stakeholders to define your strategic objectives on tax in a structured way.
We can help you to define your tax strategy, using a tried and tested methodology while considering the broader debate around tax policy developments to help you respond in the most effective way.