Tax Function Effectiveness

Topics and Contents

About The Authors
Acknowledgments
 
Chapter 1 EXECUTIVE SUMMARY
 
§ 1.01 Introduction
§ 1.02 A Vision For Tomorrow's Tax Function
§ 1.03 A Tax Management Framework
§ 1.04 Enablers And Deliverables
§ 1.05 Purpose Of The Guide
§ 1.06 Using The Guide
§ 1.07 Summary
 
Chapter 2 CHANGING BUSINESS ENVIRONMENT
 
§ 2.01 Introduction
§ 2.02 A New Era?
§ 2.03 Compounding The Challenge
§ 2.04 Summary
 
Chapter 3 REGULATORY CONSIDERATIONS
 
§ 3.01 Introduction
§ 3.02 The Sec And Section 404 Sarbanes-Oxley
§ 3.03 Accounting Standard Setters
§ 3.04 Summary
 
Chapter 4 INVESTOR EXPECTATIONS
 
§ 4.01 Introduction
§ 4.02 Investor Reports On Tax
§ 4.03 Focus On The Board's Approach To Tax
§ 4.04 Investor Analysis Of Tax
§ 4.05 So What Are Investors Looking For?
§ 4.06 Summary
 
Chapter 5 REVENUE AUTHORITIES
 
§ 5.01 Introduction
§ 5.02 Competition For Tax Revenues
§ 5.03 Collaboration Among Tax Authorities
§ 5.04 Anti-Avoidance Activity
§ 5.05 Collaborative Risk Assessment
§ 5.06 Emerging Markets
§ 5.07 Looking To The Future
§ 5.08 Summary
 
Chapter 6 CORPORATE RESPONSIBILITY
 
§ 6.01 Introduction
§ 6.02 Link With Wider Corporate Responsibilities
§ 6.03 Tax Planning—Acceptable Or Not?
§ 6.04 The Economic Context
§ 6.05 What Taxes?
§ 6.06 Summary
 
Chapter 7 OTHER STAKEHOLDERS IN TAX
 
§ 7.01 Introduction
§ 7.02 The Board
§ 7.03 The CEO And CFO
§ 7.04 Head Of Tax And Their Team
§ 7.05 Business Units
§ 7.06 Functional Departments
§ 7.07 Employees
§ 7.08 Advisors
§ 7.09 Auditors
§ 7.10 Customers/Suppliers
§ 7.11 Summary
 
Chapter 8 WHAT TAXES?
 
§ 8.01 Introduction
§ 8.02 What Is A Tax?
§ 8.03 Which Taxes Should The Tax Function Be Responsible For?
§ 8.04 Summary
 
Chapter 9 TAX FUNCTION ENABLERS
 
§ 9.01 Introduction
§ 9.02 Tax Strategic Plan
§ 9.03 Enablers—Overview
§ 9.04 Structure Of The Tax Function
§ 9.05 People
§ 9.06 Leadership
§ 9.07 Controls And Risk Management
§ 9.08 Process
§ 9.09 Data
§ 9.10 Technology
§ 9.11 Communication
§ 9.12 Summary
 
Chapter 10 TAX FUNCTION DELIVERABLES
 
§ 10.01 Introduction
§ 10.02 What Are The Deliverables?
§ 10.03 Tax Planning
§ 10.04 Tax Accounting And Reporting
§ 10.05 Tax Compliance
§ 10.06 Audit Defence
§ 10.07 Other Tax Function Deliverables
§ 10.08 Who Delivers The Deliverables?
§ 10.09 Summary
 
Chapter 11 TAX RISK
 
§ 11.01 Introduction
§ 11.02 What Is Tax Risk?
§ 11.03 Objectives Of Tax Risk Management
§ 11.04 Types Of Tax Risk
§ 11.05 Specific Risk Areas
§ 11.06 Drivers Of Tax Risk
§ 11.07 Summary
 
Chapter 12 CALCULATING THE TAXES
 
§ 12.01 Introduction
§ 12.02 Objectives Of This Exercise
§ 12.03 Some Issues To Be Addressed
§ 12.04 Overall Approach
§ 12.05 The Starting Point
§ 12.06 What Are The Measurement Standards?
§ 12.07 What Taxes Should Be Included?
§ 12.08 What Are The Data Sources?
§ 12.09 Checking The Collection Exercise
§ 12.10 What Is The Collection Period?
§ 12.11 Summary
 
Chapter 13 DOCUMENTING THE STRATEGIC PLAN
 
§ 13.01 Introduction
§ 13.02 The External Environment
§ 13.03 Aligning With The Business
§ 13.04 Taxes Paid, Charged And Collected
§ 13.05 Research
§ 13.06 Overview
§ 13.07 Areas Of Focus
§ 13.08 Scenario Planning
§ 13.09 Smart Objectives
§ 13.10 Other Possible Items For Inclusion
§ 13.11 The Strategic Plan
§ 13.12 Implementation
§ 13.13 Approval
§ 13.14 Communication
§ 13.15 Review
§ 13.16 Summary
 
Chapter 14 STRUCTURING THE TAX FUNCTION
 
§ 14.01 Introduction
§ 14.02 Role Of The Tax Function
§ 14.03 Key Questions
§ 14.04 Head Office V Business Unit Model
§ 14.05 The Organisational Options
§ 14.06 Reporting Lines
§ 14.07 Flexibility
§ 14.08 Summary
 
Chapter 15 PEOPLE DEVELOPMENT
 
§ 15.01 Introduction
§ 15.02 Skills Required
§ 15.03 People Issues
§ 15.04 People Strategy
§ 15.05 Summary
 
Chapter 16 LEADERSHIP—THE ROLE OF THE HEAD OF TAX
 
§ 16.01 Introduction
§ 16.02 Where Is Leadership Required?
§ 16.03 Skills Required
§ 16.04 The Role
§ 16.05 Summary
 
Chapter 17 CONTROLS AND RISK MANAGEMENT
 
§ 17.01 Introduction
§ 17.02 Designing Effective Controls
§ 17.03 Establishing A Tax Risk Framework
§ 17.04 Implementing The Framework
§ 17.05 The Tax Risk Management Process
§ 17.06 Summary
 
Chapter 18 PROCESS IMPROVEMENT
 
§ 18.01 Introduction
§ 18.02 What Are The Key Tax Processes?
§ 18.03 Challenges To Be Addressed
§ 18.04 End Goals For Process Improvement
§ 18.05 Making It Happen
§ 18.06 Summary
 
Chapter 19 DATA MANAGEMENT
 
§ 19.01 Introduction
§ 19.02 The Data Lifecycle
§ 19.03 Enterprise Data Management
§ 19.04 The People And Process Side Of Data
§ 19.05 Summary
 
Chapter 20 USING TECHNOLOGY
 
§ 20.01 Introduction
§ 20.02 What Do We Mean By Technology?
§ 20.03 The Component Parts
§ 20.04 Leveraging Existing Finance Function It Systems
§ 20.05 Tax It Personnel
§ 20.06 Benefits Of Technology
§ 20.07 Tax Technology As A Journey
§ 20.08 Summary
 
Chapter 21 COMMUNICATION
 
§ 21.01 Introduction
§ 21.02 Principles Of Communication
§ 21.03 Internal Stakeholders
§ 21.04 Service Level Agreements
§ 21.05 External Stakeholders
§ 21.06 The Communication Plan
§ 21.07 Summary
 
Chapter 22 TAX PLANNING
 
§ 22.01 Introduction
§ 22.02 The Overall Strategy
§ 22.03 Benefits Of Tax Planning
§ 22.04 Risk Management
§ 22.05 Impact On The Business
§ 22.06 Recognition Of Tax Benefit
§ 22.07 Project Management
§ 22.08 Compliance And Disclosure
§ 22.09 Evaluating Tax Planning Ideas
§ 22.10 Summary
 
Chapter 23 TAX ACCOUNTING AND REPORTING
 
§ 23.01 Introduction
§ 23.02 Deliverables
§ 23.03 Risk Issues
§ 23.04 People
§ 23.05 Overall Approach
§ 23.06 Process
§ 23.07 Technology
§ 23.08 Controls
§ 23.09 Newly Formed Tax Functions
§ 23.10 Above The Lines Taxes
§ 23.11 Summary
 
Chapter 24 REGULATORY COMPLIANCE AND AUDIT DEFENCE
 
§ 24.01 Introduction
§ 24.02 What We Mean By Compliance
§ 24.03 The Key Compliance Challenges
§ 24.04 How Do Best Practice Tax Functions Manage The Compliance Challenges?
§ 24.05 People And Structure
§ 24.06 Process
§ 24.07 Managing The Cost Of Compliance Through Offshoring
§ 24.08 Technology
§ 24.09 Data
§ 24.10 Controls And Risk Management
§ 24.11 Managing Audits And Reviews
§ 24.12 Summary
 
Chapter 25 MANAGING CHANGE
 
§ 25.01 Introduction
§ 25.02 Examples Of Change
§ 25.03 Change Is About People
§ 25.04 Who Needs To Change?
§ 25.05 Resistance To Change
§ 25.06 Overcoming Resistance
§ 25.07 Project Management
§ 25.08 Models And Methodologies
§ 25.09 Summary
 
Chapter 26 MANAGING THE COSTS OF THE TAX FUNCTION
 
§ 26.01 Introduction
§ 26.02 Why Measure Costs?
§ 26.03 What Does Managing Tax Actually Cost?
§ 26.04 Cost Benchmarking
§ 26.05 Cost Versus Risk
§ 26.06 International Issues
§ 26.07 Managing Costs
§ 26.08 Maximising Shareholder Value
§ 26.09 Summary
 
Chapter 27 MEASURING PERFORMANCE
 
§ 27.01 Introduction
§ 27.02 What Are Groups Typically Measuring?
§ 27.03 What Should A Tax Function Be Measuring?
§ 27.04 What Else Can Be Measured?
§ 27.05 A More Balanced Approach
§ 27.06 Summary
 
Chapter 28 BENCHMARKING
 
§ 28.01 Introduction
§ 28.02 Why Benchmark?
§ 28.03 What To Benchmark?
§ 28.04 Obtaining Quality Information
§ 28.05 Using The Results
§ 28.06 An Alternative Approach
§ 28.07 Summary
 
Chapter 29 WORKING WITH SHARED SERVICE CENTRES
 
§ 29.01 Introduction
§ 29.02 Tax Deliverables
§ 29.03 Tax Enablers
§ 29.04 Summary
 
Chapter 30 CONCLUSION
 
Index