Planning of non-routine transactions

From a Tax Control Framework perspective, for setting up risk based controls, the more unusual the transactions, the greater the tax risks. Examples of non-routine significant business transactions:

1. Migration to new jurisdictions
2. Change of business models
3. The Intersection of VAT and shared service centers
4. M&A integration: managing the moving parts before, during, and after a transaction

Where you are and where you want to go

Benchmark information, templates, modules and approaches are shared to support VAT process improvements and meet business objectives

The global tax environment is changing rapidly. How do you anticipate, prepare for and manage these changes? The thought leadership publications on the GITM website could support but also challenge you. You will get access to new views, templates and methods to translate your indirect tax knowledge into workable business processes. In addition, senior management has often competing priorities and indirect tax not always rank high on their priority list. How do you achieve a turnaround and realize their buy-in?

We share our views and best practices.

'Why', 'What', and 'How' of Managing an Effective Indirect Tax function:

• A roadmap to indirect tax function effectiveness:
  • Why is management necessary and what needs to be done?
  • How to realize objectives via best practice approaches, tools and methodology
  • How to increase indirect tax function effectiveness
  • Realizing senior management buy-in
  • Writing a business case, problem statement and calculate Return on Investment
• Where you are and where you want to go
• Planning of non-routine transactions
• Indirect tax strategic plan
• Tax control framework
• Risk management
• Data and technology including VAT and SAP
• Reporting
• Fraud
• Training
• EU developments

Our forum and blogspot contain the latest tax news.

Reinventing Performance Management

The current way of performance review apparently says more about the reviewer than the reviewed and takes a lot of time - 2 million hours annually at Deloitte (completing the forms, holding the meetings, and creating the ratings):

Objective as I may try to be in evaluating you on, say, strategic thinking, it turns out that how much strategic thinking I do, or how valuable I think strategic thinking is, or how tough a rater I am significantly affects my assessment of your strategic thinking.

It was time for Deloitte to redesign its performance management, realize process improvement and a better outcome. The simpler design for managing people’s performance brought it back to four  questions:

• Given what I know of this person’s performance, and if it were my money, I would award this person the highest possible compensation increase and bonus \[measures overall performance and unique value to the organization on a five-point scale from “strongly agree” to “strongly disagree”].
• Given what I know of this person’s performance, I would always want him or her on my team \[measures ability to work well with others on the same five-point scale].
• This person is at risk for low performance \[identifies problems that might harm the customer or the team on a yes-or-no basis].
• This person is ready for promotion today \[measures potential on a yes-or-no basis] From 

We ask leaders what they’d do with their team members, not what they think of them

Harvard Business Reviews

The above could also be used to measure the performance of the tax function and evaluate whether the right skill set from a teaming perspective is available on the long run:

• 'Structure the tax function'
• 'Pitfalls Of Actual To Budget Exercises Especially In The Downturn'