Why the tax controversy department of the future should be built now

According to the EY survey, businesses of all sizes, but especially the very largest, have not fully adjusted to ongoing, dramatic changes in tax authority scrutiny of their affairs. Sixty-six percent of respondents say that tax controversy has become more important to their company recently — but only 24% say they have complete visibility of all tax audits, disputes and litigation globally.

Looking forward, a coming crescendo of tax enforcement change is building.  Concerns about the efficacy of untested dispute resolution processes related to potential new ways to tax cross-border activity may add to future risks. At the same time, unprecedented pressure on governments to decrease budget deficits arising from COVID-19 pandemic responses is already creating new hazards in many jurisdictions.

All things considered, there is an urgent need for tax leaders to respond — by building their Tax Controversy Department of the Future.

During this session, panelists will discuss: 

• Converging trends that are driving a shifting tax enforcement landscape
• Immediate tax risks arising from the COVID-19 pandemic
• Other key area of tax risks, including expectations for future scrutiny of BEPS 2.0 related issues
• Leading practices in tax risk assessment, tax risk management and tax audit management that tax leaders should identify and adopt
• How technology can be utilized during each part of the tax controversy lifecycle

Moderator:

• Luis Coronado, EY Global Tax Controversy and Transfer Pricing Leader 

Panelists:

• Bryon Christensen, EY US Tax Controversy Leader
• Joel Cooper, EY Global Transfer Pricing Controversy Tax Desk Leader
• Paul Dennis, Partner, Tax, Ernst & Young LLP
• Agnes Fok, Director, Tax Technology and Transformation, Ernst & Young Tax Services Limited Hong Kong
• Tracee Fultz, EY Americas Transfer Pricing Leader