Study notes: Honours:

Tax Management

Tax Risk Management

All honours study notes

Managing the Tax Risk

Areas of risk

  1. Planning risk:  More upside risk /opportunity
    • downside risk:  apart from implementing planning, cost to do so and getting permission from authorities.

Managing Tax Risk – Causes of risks

  • Tax strategy and objectives
  • senior management approach to tax management and risk
  • attitude to tax risk and resource devoted to it

Managing the Tax Charge

What taxes?

CIT, VAT, import and excis duties, enviroment levies.

 

Role of the TAX Function

Clear definition roles and responsibilities is important to ensure tax function focuses on issues in strategy.

Tax Strategy: Action Plan

  1. Agree on need for strategy.