What would you like to redefine, redesign and redeploy?
The tax function in a company has assumed a huge significant recently due to both internal and external push. Tax authorities are focusing on data and analytics more than ever before. Hence, there is a need for transformation.
The tax transformation journey will not be easy, but it is now imperative and the return on investment can be significant. We can work with you to develop and implement an action plan to help level up to your desired end state. But “one size does not fit all” and to start the journey, you should assess the gaps between where you are now and where you want to be. Depending on the design of your tax function, this could mean developing a holistic tax technology strategy and roadmap as part of the overall tax strategy, or it could simply mean identifying solutions for specific processes and embedding them into current tax operations.
How we can help
- Robust Tax Governance to Increase Transparency and Trust
- Tax Process Automation and Visualisation
- Swift
- Data Hub
- Tax Management Reporting and Solution
Robust Tax Governance to Increase Transparency and Trust
Tax authorities and other stakeholders expect Tax functions to be able to demonstrate, with evidence, that they have operated in an effective and efficient way. They must be able to show, often via a formalised tax control framework and testing programme, that tax risk is mitigated to an acceptable level and tax opportunities have been taken in line with the organisation’s overall attitude to reputational and compliance risk.
Increasingly managing tax is not a purely technical challenge and the skills required also include technology awareness, project management, leadership, and communication with the wider business in a way that they understand. Hence, it is important to have a robust tax governance to increase transparency of your tax data and gain trust from the stakeholders.
How we can help you
PwC has developed the global Tax Management Maturity Model (‘T3M’). The T3M methodology and tool leads the organisation in a practical way to a Tax Control Framework (‘TCF’) designed for the needs of the organisation. With the T3M, we will help you to review your current state of tax management across your business.
