Which of the following statements are true of your company?
93 percent of respondents agree with this statement. Aligning the tax strategy with the business strategy allows the tax department to set its goals in the right context and identify resources required to successfully implement the strategy.
7 percent of respondents disagree with this statement. Developing a tax strategy that aligns with broader business goals can help the tax department set its own goals in the right context and identify resources required to achieve success.
70 percent of respondents agree with this statement. KPMG International research shows that tax departments in the top tier of good practices have standardized tax processes, structure and reporting lines.
30 percent of respondents disagree with this statement. Standardizing tax policies and procedures can promote better understanding and communication of tax matters and accountabilities across the company, as well as facilitate a more rigorous approach to tax risk management. Standardization of processes can further ease the management of complex data flows, streamline routine tasks and increase the accuracy of tax data and related filings.
77 percent of respondents agree with this statement. Clear accountabilities endorsed by the board can can assist with validating that the tax department's goals are aligning with and supportive of the wider company strategy.
23 percent of respondents disagree with this statement. Having the board's endorsement can assist with clarifying accountabilities and facilitate with the wider company strategy.
73 percent of respondents agree with this statement. Engaging with the boards and/or corporate leadership as well as leaders of other functions including IT or sales and procurement can help validate that the tax department's goals and performance measures align with those of key internal stakeholders and focuses on value generation.
27 percent of respondents disagree with this statement. When developing a tax department strategy, it is important to engage with the board and/or corporate leadership as well as leaders of other functions including IT or sales and procurement. Doing so can help validate that the tax department's goals and performance measures are agreed upon with key internal stakeholders and that the strategy focuses on value generation.
75 percent of respondents agree with this statement. KPMG International research shows that tax departments that perform well in adding value through tax planning and business support also tend to have clear governance and risk management frameworks in place.
25 percent of respondents disagree with this statement. By implementing a clear governance and risk management framework, a company can help ensure its tax department performs well in adding value through focused tax planning and business support.
71 percent of respondents agree with this statement. Documenting your approach to tax risk management should help ensure the approach to tax risk is commonly understood and clearly communicated, and that decisions regarding tax are consistent with the company's broader attitude toward business and tax risk in general.
Only 29 percent of respondents disagree with this statement. Documenting your tax risk management approach can help ensure its approach to tax risk is commonly understood and clearly communicated, and that decisions regarding tax are consistent with the company's broader attitude toward business and tax risk in general.
63 percent of respondents agree with this statement. Documentation is important to ensure the approved tax department strategy is commonly understood, clearly communicated and consistently followed across the company.
Only 37 percent of respondents disagree with this statement. Formally documenting your tax department strategy can help ensure the strategy is commonly understood, clearly communicated and consistently followed across the parts of the business.