The Case for Addressing Tax Risk

Join BDO Tax Partner and Tax Risk Services National Leader Michael Williams as he sits down with James Egert, BDO in the U.K. partner and leader of its Tax Assurance and Risk Management practice, to discuss managing tax risk and why this topic is increasingly appearing on board agendas. James’ perspective from the more legislatively regulated U.K. helps inform what makes managing tax risk important for U.S-based companies.

Key Takeaways:

• Board members and stakeholders are focused on tax risk in all forms: operational, compliance and strategic.
• If the wider operations of the business are not aligned with those of the tax function, there is greater possibility of risk
• Board members should be aware of the top tax risks in business, including e-commerce, cross-border issues, residency issues, and information and data sharing.
• To help avoid reputational hazards, any large business should have a clearly articulated tax strategy approved by the board.