TCF provides a common language?

6 years 2 months ago #185 by ThomasG
TCF provides a common language? was created by ThomasG

"Last, but not least, the tax department also benefits from a TCF. First, a TCF will facilitate the day-to-day operations of the tax department. It will be involved early on in important business transactions and surprises can therefore be kept to a minimum.

But second, a TCF provides a common language for the tax professional in the tax department when communicating with the other stakeholders. Tax planning can be translated into impact on strategic objectives such as cash flow management, earning per share, etc. In this way the tax department can demonstrate how it adds value to the organization.

Another aspect of that common language is the transparent link between tasks (strategy, operations and risks, etc.) and the need for supporting technology and resources. So when the budget meeting is being held, the head of tax department can support his budget demands by ultimately linking these to the ultimate strategy of the organization."

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