Tax risk management seminar paper

Published on 05 Nov 04 by NEW SOUTH WALES DIVISION, THE TAX INSTITUTE

This paper looks at how to deal with tax risk - looking at matters in respect of corporate governance, managing resources and relationships and staying in a job, from the perspective of internal tax managers. Including:

• Position of Directors and other Officers
• Position of internal tax managers and staff
• Position of external Tax Advisors
• Getting the most out of the relationship between internal and external advisors
• Getting the most out of the relationship between internal advisors and the ATO relationship managers
• Dealing with Treasury (law change)
• Getting the most out of the relationship between internal advisors and external auditors
• Getting the most out of the relationship between internal advisors and internal auditors - a report card
• Importance of a Corporate Values System
• Role of voluntary disclosure
• What tax issues should be referred to the board?
• What tax issues should be referred to external advisers - accountants, solicitors, barristers, valuers?
• How do you advise the board?
• What do you really need?
• What is really at stake?

Author profile

Andrew Mills CTA-Life

Andrew Mills, CTA (Life), is the Second Commissioner, Law Design & Practice, from the Australian Taxation Office, has overall responsibility for the ATO’s law practice, including law interpretation, dispute prevention and resolution, and the ATO’s role in policy and law design. Andrew has more than 30 years experience in taxation, including periods in the ATO, commerce and the tax profession. Andrew was a Director at Greenwoods & Freehills for more than 20 years and managing director of the firm from 2006 to 2011. Andrew was President of The Tax Institute in 2006–2007 and is a former Governor of the Taxation Research Foundation. In practice, Andrew was an active participant and representative of a number of industry bodies. Andrew holds a Bachelor of Business, a Master of Laws and a Graduate Diploma in Tax Law. Andrew is a Chartered Taxation Adviser (Life), a member of the Australian Committee of the International Fiscal Association and a graduate of the Australian Institute of Company Directors. - Current at 02 November 2018

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