Navigate risk and regulation

Achieving your tax objectives in today’s global landscape takes foresight

The future of tax reimagined

Turn tax compliance into opportunity

It’s important to manage the impact of increased regulation, stakeholder scrutiny, reputational risks and audits on your business. Now’s the time for you to expand your tax function’s capabilities and integrate new reporting requirements to help you transform and become a strategic asset to the business.
 

The rise of reporting requirements

Sweeping changes in the legislative and regulatory landscape are changing how tax functions operate. It’s anticipated global transparency initiatives will grow exponentially, with additional reporting required for particular industries and within specific countries. As a result, enhanced transparency and disclosure of tax-relevant information have become the new standards for business.

Increased stakeholder scrutiny

Enhanced stakeholder scrutiny and reputational risk will force companies to continuously re-evaluate their tax decisions. Due to the potential business and reputational risks associated with many transparency initiatives, organizations need to be increasingly clear and thoughtful when communicating to a much wider base of stakeholders than ever before. Public opinion—even if it’s based on inaccurate information or a lack of understanding—is powerful. It’s important to manage stakeholder obligations to not only comply with emerging requirements and shorter reporting cycles, but also create business advantage and improve stakeholder trust.

Risk of audits and disputes

  • Is your company tax aggressive and putting you on the Canada Revenue Agency’s radar screen?

  • Is your company tax risk-averse and leaving money on the table?

Information sharing will be commonplace among taxing jurisdictions, and taxing authorities will have the capability to mine data and conduct global audits, resulting in increased disputes. To address this new audit reality, it’s important to quantify and understand your tax risk. Determine what risk level is acceptable to your organization, and make sure that risk level aligns with the organization’s broader corporate strategy. From there, manage and monitor the process carefully.

Explore the future of tax reimagined

Contact us

Lana Paton

Lana Paton

National Managing Partner, PwC Canada

Tel: +1 416 869 8700

William Holms

William Holms

Western Canada Tax Leader, PwC Canada

Tel: +1 604 806 7052

Shawn Reain

Shawn Reain

Partner, Canadian Markets Leader, Tax, PwC Canada

Tel: +1 403 509 6373

Dean Landry

Dean Landry

National Tax Leader, PwC Canada

Tel: +1 416 815 5090

Éric  Labelle, LL.L.

Éric Labelle, LL.L.

Greater Montreal Tax Leader, PwC Canada

Tel: +1 514 205 5063

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