Australia

Driving business value through tax and managing tax risk 

Are tax risks well understood in your business? How important is tax risk governance to your organisation? Are you ready for greater scrutiny by, and demonstration of your framework to, the Australian Tax Office (ATO)?
Driving business value through tax and managing tax risk

David Drummond

David Drummond

National Leader, Tax Management Consulting

+61 2 9335 8695

ATO Risk Differentiation Framework heralds new dawn in Tax Administration

ATO Risk Differentiation Framework heralds new dawn in Tax Administration
The ATO's new approach to risk profiling means a greater level of taxpayer scrutiny. Now is the time to review your framework to manage tax risks.

In recent times stakeholder expectations, largely driven by regulators and the impact of the Centro decision on director’s accountability, have elevated tax governance priorities within organisations.

 

At the same time the compliance burden on organisations is continuing to increase. The challenge for tax departments is to manage expectations around the tax governance framework whilst also demonstrating the opportunities of embedding tax within the business to drive value. At KPMG, we call this 'Driving Tax Performance'.

 

Risk profiling
The ATO’s new risk-based approach to risk profiling means a greater level of scrutiny for taxpayers. This creates a drain on resources and leads to additional tax compliance costs at a time when tax departments are being asked to do more with less.

 

Now is the time to implement an operating and living framework to both effectively manage internally generated tax risks (compliance, financial reporting, planning, etc.) as well as to effectively respond to uncontrollable risks such as legislative change and ATO interpretations of the law. 


How can we help
KPMG’s Tax Integrated Governance Evaluation & Reporting Tool (TIGER) delivers an assessment of an organisation’s tax governance framework, provides insights and prioritises recommendations to help strengthen it.

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