Enhancing Stakeholder Engagement through Tax Function Integration PPT

This PPT slide, part of the 20-slide Tax Management & Strategy PowerPoint presentation, focuses on the third goal of tax management, which is to enhance engagement with external stakeholders regarding the tax function. It emphasizes the importance of digitizing and integrating tax functions to achieve this goal. A transparent exchange of data and dialogue with regulators is highlighted as a means to foster significant benefits.

Four key advantages of improved engagement are outlined. First, it creates stronger, less adversarial relationships with authorities, which can lead to more cooperative interactions. Second, it instills greater confidence in the company's tax positions, potentially reducing scrutiny and fostering trust. Third, the slide notes that this approach lowers risk ratings by minimizing the likelihood of audits and investigations, which in turn can reduce penalties and interest costs. Lastly, it enables the company to build trust with a broader group of societal stakeholders, enhancing its reputation and credibility.

The accompanying text underscores the increasing demands faced by businesses globally, particularly from governments seeking greater transparency. It references the OECD's BEPS Action Plan, which calls for companies to disclose detailed information about their tax practices and economic activities in various jurisdictions. This shift towards transparency is framed as essential for rebuilding public trust in the corporate tax system. The slide concludes by stating that as government pressure increases, effective tax management becomes increasingly critical for companies aiming to navigate these challenges successfully.

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