Governance in focus — Keeping pace with tax change — a briefing for non-executives
Tax is in the headlines in a manner few could have envisaged even just two years ago. There is nothing to suggest that this enhanced level of interest in taxation will reduce. While specific issues come and go, the overall direction is clear – tax is no longer a ‘back-room’ issue.
How are companies responding? Many companies are implementing changes in their approach to managing taxes and papers on tax strategy and policies are now routinely produced for board approval and to keep directors informed; there is more information in the annual report on tax; tax is being expressed as a contribution to society, part of a company’s values and there is also greater internal communication so that a company’s employees have the opportunity to inform themselves and absorb the company’s values.
In this Governance in focus we provide a summary of the debate, recent developments and a summary of the different perspectives. We reflect on the implications for businesses and we consider what resources businesses might use to evaluate their own positions.
