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The need to report accurate tax data is an ever-growing one. Legislative and social developments demand a higher degree of tax transparency than ever before. How should an organisation deal with this challenge? By setting up an efficient tax function in the organisation, i.e. the Tax Control Framework (TCF).
That's easier said than done. How do you coordinate strategy, processes, people and technology as optimally as possible? To address this question, PwC has developed the Tax Management Maturity Model (T3M). This methodology, with associated online tooling, provides practical guidance to the organisation in moving towards a customised Tax Control Framework that meets the organisation's requirements.
T3M consists of six building blocks inspired by COSO. As such, the T3M methodology complies with OECD standards. T3M makes tax risk management concrete and tangible. Is my tax strategy working? Are we aligned with the business? Are we ready for the new challenges awaiting us? What role can technology play in our data management? In other words, are we really ‘in control’?
T3M is the standard reporting and communication tool that measures the ‘maturity’ of a Tax Control Framework. It is a multi-tax and broadly deployable solution that supports both internal (audit committee, management reports) and external (tax services, external accountants) communication.
If you would like to find out more about T3M or what PwC can do for you, please contact us. Access to an online demo of the tool is of course possible.
We can introduce our methodology and the tool to your organisation’s most important stakeholders and generate support for it.
Together with you, we will complete the model to determine the current and desired maturity levels of the Tax Control Framework by means of workshops and interviews.
We will draw up a report with a summary of the results of the model and recommendations for improving your tax management.
We can support you in the further development and optimisation of the Tax Control Framework and the tax operating model, so that you reach the desired maturity level.
End-to-end tax risk management methodology
Inspired by COSO
Building blocks for your Tax Control Framework (TCF)
Determining the current and desired TCF maturity level
Focus on the entire tax function
Multi-tax, with attention for all types of taxes
Support in communicating your TCF to internal and external stakeholders
Possibly to benchmark with similar organisations
Support by the worldwide PwC network
Responsive, working on both desktop and mobile devices