What is the intersection of tax and compliance? Why should every compliance professional work with their corporate tax department to ensure more effective compliance program. In this podcast series, join Tom Fox and noted tax professional Tracy Howell as the explore the intersection of tax and compliance as well other tax issues that every business executive needs to be aware of for efficient business operations.
All content for Taxman is the property of Tom Fox and is served directly from their servers
with no modification, redirects, or rehosting. The podcast is not affiliated with or endorsed by Podjoint in any way.
What is the intersection of tax and compliance? Why should every compliance professional work with their corporate tax department to ensure more effective compliance program. In this podcast series, join Tom Fox and noted tax professional Tracy Howell as the explore the intersection of tax and compliance as well other tax issues that every business executive needs to be aware of for efficient business operations.
What is the intersection of tax and compliance? Why does a Chief Compliance Officer (CCO) or compliance professional need to sit down with the corporate head of tax? How does a corporate tax function fit into a best practices compliance program? It turns out there is quite a bit a compliance professional can learn from a tax professional. Moreover, there are many aspects of tax which should be considered by a CCO and compliance professional from an overall risk management perspective. Unfortunately, these questions are rarely explored in the compliance community. In this inaugural episode, we consider the following topics.
Why Should Compliance and Tax Interact?
All organizations have an enterprise risk management (ERM) system. One risk common to multinational companies especially is corporate tax risk; and yet, it tends to remain under the radar. While tax professionals are usually very good at identifying and mitigating tax risk, if there is no close interaction between compliance and tax professionals, the risks are elevated.
Sophistication in Taxing Jurisdictions
Most jurisdictions have a tax code, but street rules tend to also be in play. “You have to establish very early on that you don’t pay bribes,” Tracy advises. The results of following the law are more expensive, but it pales in comparison to the cost of putting your company at risk.
Resources
Tracy Howell | Email | LinkedIn
Taxman
What is the intersection of tax and compliance? Why should every compliance professional work with their corporate tax department to ensure more effective compliance program. In this podcast series, join Tom Fox and noted tax professional Tracy Howell as the explore the intersection of tax and compliance as well other tax issues that every business executive needs to be aware of for efficient business operations.
