Why you need to consider transforming your tax function
Technology changed the world of tax, creating a “new world of tax” and a new taxman. This taxman has superpowers meaning the authorities have a better, easier and more efficient oversight of your business.
How is this relevant for you? As the world is changing, it is forcing tax to move with it causing the role of tax to change in organizations and moving it to a Board-level priority. Combining this with more powerful tax authorities, companies risk to lose control of their tax narrative. To ensure you will not lose your tax narrative it is relevant you transform your tax function where needed.
Are you ready for the new world of tax?
The good news is that it’s possible to own your tax narrative while simultaneously unlocking the opportunity to be a better business partner. To help you create a fit-for-purpose tax governance framework, we’ve developed a four-pillar approach to enable you to regain control of your tax narrative and structure your thinking on building a new tax strategy and roadmap.
Click the pillars to see the scope of the framework, and launch the self-assessment to work out your need for tax transformation.
Pillar I
Tax Strategy and Leadership
Technology to motivate and develop
- Tax vision: core purpose of desired global tax function and guide for long term strategy
- Long-term strategy: set of actions designed for a tax function to achieve long-term goals
- Mid-term plan: start actions now to achieve long-term strategy
- Short-term objectives: actions extracted from mid-term plan to achieve long-term strategy
Coming soon
Pillar II
Tax Operations
Technology to drive operational efficiency
- Tax operating model
- Performing a SWOT (strengths, weaknesses, opportunities, threats) analysis
- Optimising existing functions while maintaining governance
- Selecting the most appropriate alternative for your organisation
Coming soon
Pillar III
Tax Risk and Control
Technology to track and monitor
- Ensuring you understand your tax risks before the authorities do
- Managing or reacting to tax risks
- Proactive or reactive in identifying acknowledging tax risk
- Tax risk and control framework accounting for tax disruption risks
Coming soon
Pillar IV
Tax Transparency
Technology to extract data and report
- Authority tax transparency: mandatory tax compliance reporting and disclosures
- Public tax transparency: ensuring external stakeholders interpret your actions as intended
- Internal tax transparency: ensuring your employees understand the approach to tax so they make the right decisions
Since not all businesses will need all four pillars for their tax transformation, it makes sense to view each pillar individually. Please get in touch if you'd like to discuss our tax governance framework approach, or want to see how can help you with your tax transformation journey.
Contact us
Charalambos Antoniou
Partner, Tax Function Design and Tax Transparency Leader, PwC Switzerland
Tel: +41 58 792 47 16
Dr. Christian R. Ulbrich
Manager, Tax and Legal Technology, Strategy and Applications, PwC Switzerland
Tel: +41 58 792 23 16