Richard's Take

To ascertain proper implementation and impact of changes in business, laws, and regulation on implementing tax planning From A Roadmap to a sound Audit Defense Strategy .

Although I wrote this list sees on M&A it could also be used for overall planning

An Indirect Tax and Acquisition Checklist
Indirect tax risks are prevalent throughout the entire M&A and integration process. Here are some of the leading practices, lessons learned, and perspectives to keep in mind so that they do not become stumbling blocks:

1. Set up a project charter that will take effect as of the very first due diligence activities.
2. Validate due diligence findings and define priorities.
3. Make an indirect tax integration plan and ensure that the right sponsors provide buy-in.
4. Map out the current state upon acquisition and identify key risk areas, opportunities, and people in the organization acquired.
5. Jointly validate and refine the integration plan and develop a road map to success.

It all start with when the indirect tax function will be involved. Some key question to ask (important for understanding the company's indirect tax policy)

1. How is the indirect tax function involved in legal restructuring and transactions e.g., acquisitions, co-marketing etc.?
2. How is the indirect tax function involved in operational changes e.g., SSC, ERP implementations, cost reduction initiatives?
3. How is indirect tax and shadow indirect tax staff used in indirect tax planning and what percentage of time is the indirect tax function able to spend on analysis and indirect tax planning?

Risk Management does not stop at design, but the most important part is to check whether instruction given are correctly implemented (people make mistakes) and that the right controls are set up on material risk areas for ongoing monitoring purposes. You see often that the facts used during of design are not necessary equal to reality at go live. That is risky business as well.