Tax risk management – Compass

As the volume of technical tax-related regimes continues to grow, corporate groups are becoming increasingly aware of both the complexity of managing compliance with these regimes and the reputational risks associated with falling short of them.

The rise of ESG as a boardroom issue has further compounded the level of scrutiny companies can expect to face in relation to the tax positions they adopt and the depth and breadth of information they choose to disclose to their stakeholders.

Not only do organisations need to be able to demonstrate their compliance with the relevant legislation, they also need to show that they have given careful consideration to the approach to tax they have adopted and be prepared to explain and defend this to a variety of stakeholders.  

Our tax risk management platform helps clients to understand their overall risk profile, both in terms of the technical tax risks themselves, but also the reputational considerations associated with tax governance and disclosure. The portal consolidates the client’s strengths and vulnerabilities in one place, providing an overall tax risk rating for their organisation (and in various key risk categories) and corresponding advice on how to mitigate any potential issues.  

Key features

  • Consolidation and documentation of current tax risk management practices.
  • Comprehensive evaluation of group’s tax risk position.
  • Identification of reputational risks and opportunities.
  • Technical tax compliance analysis.
  • Tailored ratings report with practical next steps.
  • Identification and articulation of existing "good behaviour" to communicate to stakeholders.
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