Tax transformation

Ready for the new world of tax?

Why you need to consider transforming your tax function

Technology changed the world of tax, creating a “new world of tax” and a new taxman. This taxman has superpowers meaning the authorities have a better, easier and more efficient oversight of your business.

How is this relevant for you? As the world is changing, it is forcing tax to move with it causing the role of tax to change in organisations and moving it to a Board-level priority. Combining this with more powerful tax authorities, companies risk to lose control of their tax narrative. To ensure you will not lose your tax narrative it is relevant you transform your tax function where needed.

Tax governance framework

As the world shifts from shareholder to stakeholder capitalism and a growing emphasis on ESG, more and more people are interested in your company’s story. One of the main features of the plot is tax. To structure the plot, you need a solid tax governance framework.

Tax vision: core purpose of desired global tax function and guide for long-term strategy
Long-term strategy: set of actions designed for a tax function to achieve long-term goals
Mid-term plan: start actions now to achieve long-term strategy
Short-term objectives: actions extracted from mid-term plan to achieve long-term strategy

Tax operating model
Performing a SWOT (strengths, weaknesses, opportunities, threats) analysis
Optimising existing functions while maintaining governance
Selecting the most appropriate alternative for your organisation

Ensuring you understand your tax risks before the authorities do
Managing or reacting to tax risks
Proactive or reactive in identifying and acknowledging tax risk
Tax risk and control framework accounting for tax disruption risks

Authority tax transparency: mandatory tax compliance reporting and disclosures
Public tax transparency: ensuring external stakeholders interpret your actions as intended
Ensuring Internal Stakeholders: understand your tax narrative

Our tax governance framework blog post series:

Gain deeper insights into the tax governance framework, built on four key dimensions.

Introduction and the four dimensions

Tailored tax transformation

Since not all businesses will need all four dimensions for their tax transformation, it makes sense to view each pillar individually. Please get in touch if you'd like to discuss our tax governance framework approach, or want to see how can help you with your tax transformation journey.

Contact our tax experts

Charalambos Antoniou

Partner, Tax Function Design and Tax Transparency Leader, PwC Switzerland

+41 58 792 47 16

Stuart Jones

Partner, PwC Switzerland

+41 58 792 45 16