Tax evasion framework
GoodCorporation's four-page Framework on Preventing Tax Evasion and the Facilitation of Tax Evasion comprises a set of responsible business principles that can be used as a tool to improve the robustness of management practices in relation to the risks of facilitating tax evasion.
Areas covered by the framework
- Top-level commitment: senior management ensures that there is a zero-tolerance of tax evasion with effective policies and procedures in place to prevent it occurring.
- Corporate strategy: the organisation understands its tax liabilities in all its legal entities and has frameworks and structures in place to meet these obligations.
- Risk assessment: the organsiation ensures that all risks of tax evasion are proactively assessed and mitigated.
- Communication and training: the organisation can evidence that employees and relevant stakeholders are trained on and abide by its anti-tax evasion policies and procedures.
- Due diligence: there are clear processes for deciding on and conducting effective due diligence.
- Key tax areas: the organisation understands the business functions that trigger tax payments and has effective procedures in place to mitigate any risk of tax evasion.
- Transparency: the organisation can demonstate a commitment to tax transparency.
- Compliance and monitoring: there are effective monitoring processes in place to ensure that policies and procedures are properly implemented.
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