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Tax Transparency

The new world of tax will be a transparent one

Legislators, shareholders, employees and the public are expecting companies to be clear and open about their approach to tax. If you don’t want your tax transparency strategy to be dictated by external factors, it’s important to take control of it early on. To help you formulate a strategy, we’ve divided tax transparency into three main categories of stakeholders:

Tax transparency towards tax authorities
  • Tax returns
  • Country-by-country reporting
  • DAC6
Public tax transparency
  • Tax strategy
  • Tax risk framework
  • Country-by-country reporting
  • Total tax contribution
Internal tax transparency
  • Understanding the approach to tax
  • Having the right information
  • Making the right decisions

1. What is public tax transparency about?

  • Defining public tax transparency
  • Why it's a topic now
     

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3. How to implement public tax transparency

  • What information could be disclosed?
  • How to organise action
     

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2. Is it in your interests to be publicly tax transparent?

  • The value of public tax transparency
  • Sharing an insider's view
     

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4. Public tax transparency benchmark study 2019 & 2020

  • How popular is public tax transparency currently?
  • Does the data reveal a trend?
     

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We’ve created a number of questions to help you assess whether you’re ready for a transparent world of tax:
  • Is tax transparency on your agenda?
  • Have you assessed your transparency needs (legislation, external and internal pressure)?
  • What are the pros and cons for being tax transparent?
  • Do you have a tax transparency strategy in place?

Are you able to answer all these questions to your total satisfaction? Are you comfortable and confident that your current tax transparency strategy is ready for the new world of tax? If not, it’s advisable to contact us to see how we can help you adapt your strategy or create new one.

It’s also advisable to look at the other three pillars of the tax governance framework to see if your business needs any change and support in these areas. Just contact us via the contact form below.

Where PwC can support you on your tax transparency journey:

  • We advise you about global developments in the area of non-financial tax disclosures, provide our view of the market standards and compare your current tax transparency state with the approaches taken by your peers, the broader market practice as well as sustainability standards in order to build a basis for your internal discussions with various management bodies or other decision-makers.
  • We support you in structuring your tax transparency report by identifying and analysing different options. Through our extensive experience in the field of tax transparency, we can give you a full picture of all the relevant factors to consider when assessing which type of reporting is suitable for your company. In addition, we provide assurance regarding the reliability of your data by performing a third party review
  • We perform an in-depth analysis of all risks and opportunities that come with additional non-financial disclosures in the field of tax transparency. In order to identify and assess risks & opportunities, we will take the role of a sounding board/sparring partner.
  • We help you categorize different tax types from different geographical and operational areas in a way that simplifies consolidation and guarantees comparability and consistency. We train and manage local teams to coordinate and harmonize the tax transparency data collection process.
  • We recommend data analytics and machine learning technology, e.g. SAP-codes, workflows, ledger interrogation tools etc. and support you in the transformation, automation and industrialization of the processes required for a tax transparency report.

Do you have your tax transparency under control?

Contact us and learn more about it.

https://pages.pwc.ch/core-contact-page?form_id=7014I0000006qWFQAY&lang=en&embed=true

Contact us

Charalambos  Antoniou

Charalambos Antoniou

Director, Tax Function Design Leader, PwC Switzerland

Tel: +41 58 792 47 16

Stuart Jones

Stuart Jones

Senior Manager, Tax Strategy and Applications, PwC Switzerland

Tel: +41 58 792 45 16

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