Mike Sufrin Director of Tax Rolls-Royce considers what tax risk management entails in practice for a large corporate
Before we consider how we might manage tax risk we first need to understand what we mean by tax risk. The origin of the word risk is the Italian risco meaning danger and the dictionary definitions include:
● a situation involving exposure to danger or loss
● the possibility that something unpleasant will happen
● to do something where there is a chance of a bad result
● the variability of returns from an investment.
The definition we tend to use for tax risk is 'the possibility of an adverse deviation from the expected result'.
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Mike Sufrin Director of Tax Rolls-Royce considers what tax risk management entails in practice for a large corporate
Before we consider how we might manage tax risk we first need to understand what we mean by tax risk. The origin of the word risk is the Italian risco meaning danger and the dictionary definitions include:
● a situation involving exposure to danger or loss
● the possibility that something unpleasant will happen
● to do something where there is a chance of a bad result
● the variability of returns from an investment.
The definition we tend to use for tax risk is 'the possibility of an adverse deviation from the expected result'.
...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
