Tax Journal partnered with Engaged Consulting to assess views of large businesses on tax strategies. Senior respondents from 47 large businesses – all of whom were
in-house tax directors or heads of tax – took part.
The result, and my analysis were published and can be found here.
The Government has introduced a new requirement for large businesses to publish a Board approved UK Tax Strategy. This is intended to be used by HMRC as part of their risk assessment process, but the public nature of this requirement will allow a much wider group of stakeholders to look at what businesses publish.
Although many large businesses will already have a tax strategy or policy document, few of these were written with a view to publication, and they may not reflect the latest expectation on businesses’ approach to tax.
Back in June and July of this year, the TAXE Special Committee called a wide range of multinational companies to appear at hearings to discuss their tax practices. Only four of the 18 accepted. On 16 October, the Committee announced that it would give the remaining companies ‘one more chance’ to appear before them on 16 November.
We are delighted to announce that Engaged Consulting won the Tolley’s Taxation Award 2017 in the category of Best Independent Consultancy Firm.
This is great news, and recognises the innovative
and topical services we provide. Tax governance
and transparency issues are on the agenda for all
We are delighted to announce that Engaged Consulting is a Finalist for a Tolley’s Taxation Award 2016 in the category of Best Independent Consultancy Firm.
This is great news, and recognises the innovative and topical services we provide. Tax governance and transparency issues are on the agenda for all businesses.
On 15 September 2016, the European Commission released the results of the first step towards creating an EU list of ‘non-cooperative’ tax jurisdictions. This list includes 81 countries and measures them against three risk indicators. The next stage is for member states to agree by January which countries should face further scrutiny.
Our latest publication explores the challenges facing businesses in 2017, including the publication of a UK Tax Strategy, tax governance, new FRC tax disclosures, CBCR and the Criminal Finances Act 2017.
What do the proposals say?
What does it mean for business?
What are the limitations?
The tax transparency agenda is now relevant to all sectors, and brings with it compliance burdens, risks and opportunities beyond just reporting taxes paid. Businesses need to consider how they address this challenge by developing a proactive approach to transparency and wider tax governance. Combined with the right stakeholder engagement, this will help businesses to tackle the current climate of mistrust.
g+ europe is teaming up with international tax consultant Tim Law who is taking up the role of Senior Policy Advisor.
g+ europe (www.gpluseurope.com) is a leading communications consultancy specialised in political decision-making and its impact on businesses and their reputation, at the international, EU and national level. With a dedicated team in Brussels, Paris, Berlin and London, and a network of like-minded partner companies in other capitals, the company devises and runs public affairs and communications campaigns across Europe.