KPMG’s Tim Lynch, Michael Baartz and Dominic Theodos explain why tax and finance functions need to ensure they have buy-in and engagement with the broader business.
Most stakeholders with direct responsibility for tax are aware of the increasing complexity of the tax law and the additional expectations required of business to keep pace with the complexity. These stakeholders (predominantly being those in tax/finance functions) are typically communicating with the broader business far more than a number of years ago.
However, some may still be having difficulty engaging with senior management/other stakeholders, and getting ‘buy-in’. This may be as a result of perceived low tax risk within an organisation, or a misconception that tax cannot add value to the business. Clearly those in tax/finance functions should not be comfortable with that level of (dis)engagement.
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