Abstract
Is the board responsible for tax? This question might have caused interesting discussions among board members a few years ago. Statements such as “It’s a CFO issue” and “tax is under control” might quite possibly have been among the responses. Taxation gives rise to complex, multi-faceted problems in every country in the world, that can only be dealt with by tax specialists. This argument used to be met with some sympathy, especially by members of the public who were familiar with the complexities of filing their own income tax returns every year. But the question remained: how can an issue that might encourage a corporate reorganization or influence the payment of dividends to shareholders, or which might affect a merger or take-over, possibly stay out of the boardroom?
The author wishes to thank his assistant, Ms. Michaela Peisger, for her valuable contribution.
This is a preview of subscription content, log in via an institution.
Buying options
Tax calculation will be finalised at checkout
Purchases are for personal use only
Learn about institutional subscriptionsPreview
Unable to display preview. Download preview PDF.
References
Financial Times, October 13, 2006.
The Guardian, September 18, 2006.
Financial Times, August 19, 2005.
The Times, October 10, 2006.
Financial Times, October 6, 2006.
Financial Times, July 4, 2005.
ETHICAL COMPANY, 25 (December 2004).
Id.
HENDERSON GLOBAL INVESTORS, Responsible Tax (October 2005).
“Wir wollen Deutschland nicht verlassen”, Süddeutsche Zeitung, March 10, 2007, 25.
KPMG, Emerging Markets, 1 (January 2007).
UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT, World Investment Report 2006 (see www.unctad.org).
OECD Principles of Corporate Governance (2004), Annotations I.C.
OECD FORUM ON TAX ADMINISTRATION, Good Corporate Governance: the Tax Dimension (September 2006).
KPMG’s Wired Tax survey 2004.
KPMG’s Wired Tax survey 2004 and 2006.
Id.
Id.
KPMG, Tax in the Boardroom, A Discussion Paper (2004).
KPMG, Tax in the Boardroom, A Discussion Paper, Appendix II (2004).
KPMG, The Compliance Journey Balancing Risk and Controls with Business Improvement (2004).
KPMG, Tax in the Boardroom, A Discussion Paper, 6 (2004).
BANKS, Corporate Governance — Financial Responsibility, Ethics and Controls, 47 (2004).
OECD, Guidelines for Multinational Enterprises, 27 (2000) (see www.oecd.org/dataoecd/56/36/1922428.pdf).
BANKS, supra note 25, id.
KPMG, Tax in the Boardroom, A Discussion Paper, 11 (2004).
HENDERSON GLOBAL INVESTORS, supra note 10, at 61.
KPMG, Tax in the Boardroom, A Discussion Paper, 7 (2004).
SALZBERGER, Corporate Governance — Begriff und Aufgaben, 167 (2005).
KPMG, Tax in the Boardroom, A Discussion Paper, Appendix III (2004).
Id.
Id.
Id.
Id.
Id.
Id.
OECD, Final Seoul Declaration (September 2006).
DÖRNER/ HORVATH/ KAGERMANN, Praxis des Risikomanagements, 109 (2000).
KPMG GLOBAL TAX, The Governance of Tax, A Discussion Paper, 15 (2006).
OECD (2007) (see www.oecd.org/topic).
INTERNAL REVENUE SERVICE, U.S. Department of the Treasury (see www.irs.gov/newsroom/article).
PCAOB, 2003–2006 (see www.pcaobus.org/).
INTERNAL REVENUE SERVICE, U.S. Department of the Treasury, May 3, 2004 (see www.irs.gov/newsroom/article).
OECD (2007) (see www.oecd.org/topic).
INTERNAL REVENUE SERVICE, U.S. Department of the Treasury, IRS News Release IR-2006-120, August 1, 2006 (see www.irs.gov/newsroom/article).
Author information
Authors and Affiliations
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2008 Springer-Verlag Berlin Heidelberg
About this paper
Cite this paper
Erle, B. (2008). Tax Risk Management and Board Responsibility. In: Schön, W. (eds) Tax and Corporate Governance. MPI Studies on Intellectual Property, Competition and Tax Law, vol 3. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-540-77276-7_15
Download citation
DOI: https://doi.org/10.1007/978-3-540-77276-7_15
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-540-77275-0
Online ISBN: 978-3-540-77276-7
eBook Packages: Business and EconomicsBusiness and Management (R0)