Deloitte’s guide to tax risk management

Article

See beyond your existing tax risk management function

Tax strategy and operations

Ever-shifting regulatory requirements, fast paced challenges in technology and data overload are pressing challenges making the management of tax more difficult and demanding than ever. Discover ways to review and optimise your tax risk management process through our various service offerings.

While 2020 was the year that turned business and society on its head, 2021 brings an opportunity to reshape the future. Tax functions are increasingly having to manage tax risk most effectively while aspirations to add more strategic business value is on the rise.
 

How can Deloitte help?

Deloitte has been at the forefront of key trends such as:

  • King IV Report – The Board takes ownership of a transparent tax policy
  • JSE’s new listing requirements – The chief financial officer and chief executive officer take responsibility for internal financial reporting controls (including tax financial controls).
 
Our service offering includes
  • Optimising tax strategy and tax policy in accordance with King IV Report
  • Defining a practical tax risk control framework
  • Review of tax operating models including the RACI model (including Roles, Accountability, Consulting and Informed)
  • Tax processes- defining standardised tax process maps across the key taxes
  • Assess the adequacy and design of the controls against the current and potential tax risks
  • Assessing and guiding the best fit for tax technology solutions.
 
Our methodology

Defining a best fit roadmap by:

  • performing a ‘current state assessment’ of the tax governance adopted across the tax function looking at tax strategy, tax policy, tax operating model, tax function (people, process, data and technology)
  • identifying potential gaps and weaknesses
  • providing recommendations through a defined timeline roadmap.
Deloitte Africa Tax Risk Map

Take our tax maturity self-assessment
Get in touch with our tax strategy and operations team to request a tax maturity self-assessment questionnaire. The questionnaire is designed to map your current and future state maturity across a variety of tax criteria such as tax governance and tax operations in your organisation. The self-assessment will take approximately 15-20 minutes to complete.

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