Tax Function Effectiveness: The Vision For Tomorrow's Tax Function

Tax Function Effectiveness: The Vision for Tomorrow's Tax Function

CCH's new Tax Function Effectiveness addresses the unique challenges of tax function departments. The tax function's objectives should themselves be driven by what is happening in the business and the wider business and regulatory environment. While the objectives of different tax functions will vary in the detail, we believe that the effectiveness of the tax function department is fundamentally based on its ability to achieve three core objectives: 1. Create, protect and optimise value in the context of the organisation s business objectives; 2. Manage a wide range of tax related risks from carrying on business; and 3. Ensure compliance with tax laws and reporting requirements. Tax planning and advisory activities should be focussed on optimising tax outcomes and managing risk, both in respect of strategic transactions and day to day operations. Compliance and reporting activities tend to be process driven activities that are focused on both risk management and external communication