Total Tax Contribution Framework
PwCs' Total Tax Contribution framework
is relevant to organisations seeking greater transparency around their
total contribution to the taxation system. In addition to clarity
around Taxes Borne and Taxes Collected, the framework enables industry
comparisons and provides details regarding the cost of compliance.
Quantification
- Which taxes did your company pay and collect last year?
- How much did compliance cost?
Total Tax Contribution will:
- Allow you to analyse your data using a standardised methodology
- Enable you to analyse the cost of compliance
- Identify the business Taxes Borne and Taxes Collected on behalf of the Government.
Management
- How does your tax management approach compare with industry benchmarks?
- Who is responsible for the management and delivery of tax data?
- What role is your Board playing in setting/enacting policy?
Total Tax Contribution will:
- Benchmark you with your competitors, industry and other relevant groups
- Focus the management of tax costs and the allocation of tax resources
- Create a platform for dialogue
with Boards to ensure tax management is aligned with Board strategy and
agree approaches to managing risk.
Transparency
- Do you have reliable all inclusive data on all the taxes your company pays?
- Does your data link your tax strategy, reporting and collection, and corporate responsibility objectives?
Total Tax Contribution will provide robust data for:
- Linking economic contribution in taxes paid to corporate social responsibility reporting
- Facilitating discussion with Government and other external interest groups
- Transparent external reporting of taxes paid and collected, sharing economic contribution in taxes.
