Tax control framework blueprint and in practice

TCFs remain an evergreen in the tax world. We have all heard about them. We all somehow have an idea of what they are, and what they are supposed to do. A few more proactive tax leaders have blueprinted such a framework, typically in a static and passive format, like a spreadsheet. However there is only a very small minority of tax teams who are ahead of the pack and have successfully operationalized their TCF.

At Loctax, we have an extensive whitepaper regarding the ins and outs of TCFs. You can download your copy here:.

Here is however one very practical piece of advice: don’t be blinded by the definition or the format. It will only result in analysis-paralysis. Given the extremely high workload you already have, overthinking it is the last thing you need. Instead, take a step-by-step approach, bottom-up. Start with selected processes (like tax compliance), and improve them. Install clear roles and responsibilities. Focus on structured, standardized and repeatable ways of working. Aim for low-hanging, easy-to-implement controls. And keep on reiterating, continuously aim for incremental improvements.

Always happy to further share our experiences during a short call.