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13 April 2021 EY Global Tax Controversy Flash Newsletter (Issue 33) | Implementing the Tax Controversy Department of the Future can help manage tax controversy The 2021 EY Tax Risk and Controversy survey of almost 1,300 senior tax and finance leaders identified key current and future trends in the tax risk and controversy environment, as well as existing gaps in how they are managing risks stemming from these trends: 66% of respondents say that tax controversy management has become more important to them in the past three years, yet only 24% say they have complete visibility over all active tax audits and disputes 76% say that national-level tax reforms during the last three years have increased their tax risk exposure, but only 43% say they actively track new tax policy and legislative developments Organizations that recognize these risks and want to be able to effectively manage future tax disputes need to make investments — in people, processes and technology — now. These organizations recognize the part tax plays in long-term value creation for business, and the risk tax disputes present to both the bottom line and company reputation. To help address these risks and increase tax’s overall value proposition, forward-looking organizations are implementing the Tax Controversy Department of the Future (TCDF). With its focus on tax risk assessment, tax risk management and tax audit management, the TCDF approach provides a holistic strategy for managing tax controversy now and into the future. Learn more about the TCDF approach, and EY survey findings, by watching the survey webcast replay and reading the TCDF article. Document ID: 2021-5422 |
