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EY Global Tax Controversy Flash Newsletter (Issue 62) | Companies should examine their tax governance and data as focus on tax controversy grows
As a new, post-pandemic era of tax risk and controversy takes shape, global businesses should consider enhancing their tax governance approach and closely examining the accuracy and sources of their tax data. Greater transparency, cross-border cooperation and access to technology have increased tax authorities’ expectations for quick access to company data, and proactive audit readiness will be essential as multinational companies prepare to implement the OECD’s BEPS 2.0 initiative in different countries.
The 2023 EY Tax Risk and Controversy Survey results showed companies are concerned about the potential for cross-border tax controversy, as well as a lack of standardized tax governance frameworks and the challenges gaining visibility into tax audits.
A recent EY Tax and Law in Focus podcast explores these and other emerging tax risk and controversy trends, key issues facing tax leaders, and shares information on how to help manage these risks.
Additional information and links to past newsletters can be found in the attached PDF.