Tax Governance Toolkit
Evaluate and improve your tax governance through the BCT toolkit, and benchmark against industry norms and peers using BCT's tax governance dataset
Why?
Tax Governance is
under increased scrutiny
Tax authorities are seeking to close tax gaps through increased activity reviewing taxpayers' affairs. Better tax governance is necessary, both to meet regulators' expectations but also to prevent expensive mistakes from occurring.
To meet these pressures, businesses need to review existing tax governance and ensure that it is fit for purpose in the current international regulatory landscape, and demonstrate they have a robust internal governance framework.
BCT Partners boasts the unparalleled experiences of its founders in providing its Tax Governance Framework to you. Designed to improve your tax governance and management of taxes, it will help organisations of all sizes, complexities, and maturity to become and remain compliant.
How?
Using BCT's Governance Framework Tool
Monitor and Review
- Create process monitoring through the execution of control checks and escalations after the remediation of critical gaps
- Implement periodic checks using internal workflow tools, or upgrade to the BCT Partners' Governance Monitoring solution
- Perform internal reviews of the escalation and monitoring processes to ensure that the new processes are functional and embedded
- Add an external assurance (optional for lower phases) to demonstrate control efficacy and to provide the higher standard of governance
Evaluate Tax Governance current state
- Answer a few simple questions about your organisation's size, growth, plans, and industry to access the relevant phase of the tool for you
- Work through the toolkit either self-service at your own pace, or with the assistance of a trained tax governance advisor
- Access your report (with optional benchmarking data) describing your tax governance compliance and identifying gaps with suggested appropriate remedial activities
- Improve and enhance by completing the remediations, either in-house or with the assistance of a trained tax governance specialist
Maintain and Improve
- Continue to use the Governance Toolkit annually to check you are in the correct phase and are applying the right level of governance processes
- Maintain your governance sharpness through internal and external spot-check exercises
- Improve your governance level by implementing optional elements for your phase, and by looking ahead at the governance for the next phase up
- For the most focussed improvement advice, engage with BCT Partners for a bespoke advisory consultation