Tax Risk Management
A major issue for business
The business environment in which we operate now means that, regardless of the size of your business, managing your tax risk is a key governance issue.
In the words of the Taxation Commissioner:
“…taxation has the potential to be a major area of risk in the conduct of any business”All businesses are exposed to tax audits, reviews and penalties. Due to the complexity of the tax law businesses need to proactively identify areas of potential tax exposure and develop policies and procedures to manage these.
At William Buck it is our business to understand the importance and the intricacies of how the tax laws impact on your business. We also understand that managing tax risk is more than just dealing with the Australian Taxation Office (“ATO”) at the audit stage - it permeates all phases of the decision making process from the Board of Directors through to the Tax and Accounting teams.
Features and benefits
While you focus on running your business, William Buck’s tax specialists can help manage your tax risk and governance issues by:
- Conducting prudential tax audits and reviews to identify areas of tax exposure;
- Developing policies and procedures for managing tax risks;
- Conducting statistical reviews and industry benchmarking to help determine your risk profile given the ATO’s focus on businesses with less than commercial results;
- Managing tax office negotiations;
- Developing tax audit strategies and manage ATO reviews and audits;
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Determining the most appropriate form of advice to deal with a tax exposure – from Private Rulings to specialist advice; and
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Providing technically accurate, practical advice to enable you to understand and deal with your tax risks.
Don’t take unnecessary risks. Enlisting the help of a William Buck specialist, will ensure your business tax risks are managed.
For more information
For more information please contact your local office, or download an information sheet.
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Information sheet Tax Risk Management |
