May 24, 2022
Tax governance in Germany: evolving demands for a documented tax control framework
In this article – the third country paper in our series on evolving needs for tax governance – we examine how Germany’s new Act on Strengthening Financial Market Integrity (FISG) contains important new requirements that companies should be aware of. In particular, FISG contains an important new requirement under which companies listed on the German stock exchange must establish an appropriate and effective internal control and risk management system. While the requirement is clearly aimed at the largest companies doing business in Germany, we explain how companies of all size may find that taking a similar approach may provide a business with greater levels of protection against any potential accusations of wrongdoing.