Having regard to the current push for transparency and likely developments over the next 2-3 years, this paper explores how Corporates and Tax Advisers should:
- define ethics in relation to Tax
- manage the consideration of tax risk, both financial and reputational
- differentiate between management of Strategic and Operational Tax Risks
- revise the application of the traditional three lines of defence to Tax Risk
- address legacy and current tax disputes and issues with the ATO
- respond to media enquiry into their tax affairs in this emerging environment.