Knowledge sharing

Tuesday, September 6, 2016

Criminal charges and jail time

59 percent of respondents (53 percent in 2014) expect the personal liability of compliance officers to increase in 2015, with 15 percent expecting a significant increase.

Compliance officers or its Executives at firms as diverse as Swinton Insurance, Bank Leumi, Bank of Tokyo-Mitsubishi, Brown Brothers Harriman and Deutsche Bank (DB: VAT fraud) having been fined, banned or jailed (or a combination).

Sunday, September 4, 2016

Identify the lowest performing process

If you know the company's risk appetite, you have to identify the lowest performing indirect tax processes that have ‘the most direct impact on the company’s business objectives.

Gain awareness and acceptance

Create, protect and prove value and write a business case for investment to realize business objectives such as improve cash flow, reduce costs, improve tax processes and manage tax related risks.