The role of the Tax function in Finance

Although Tax is generally a function within the finance organisation, it is often not actively involved in crucial decisions relating to changes in finance processes and technology. This can result not only in increased tax risk to a company, but also hidden costs and lost opportunities. Upfront, specific tax input is needed to maintain basic tax operating effectiveness, manage the loss of institutional knowledge and ensure that risk is managed. Handled well, finance transformation also enables the organisation to more effectively manage taxes; generating cash flow and tax savings.