Risk Management

What is a Tax Control Framework (TCF)?

A set of processes and procedures that businesses use to manage their tax risks and ensure compliance with UAE tax laws and regulations.

Why is Tax Control Framework important in the UAE?

1. Prepare the company for tax audit procedures.
2. To participate in cooperative compliance programs with tax authorities (which will result into less future tax audits).
3. Providing certainty by managing tax risks and opportunities. Avoiding tax disputes.
4. Align the TCF with the company’s Environmental, Social and Governance (“ESG”) objectives.
   

How to establish a Tax Control Framework

1. Conduct an assessment to identify areas of tax risk and opportunities.
2. Design the strategy for tax controversy.
3. Develop policies and procedures for tax governance.
4. Provide training and education to relevant stakeholders on the TCF.
5. Regularly update the TCF. Monitor compliance by the tax function and the stakeholders of the company.
   

How can Crowe help?

1. Designing the TCF for companies for the GCC countries.
2. Align the TCF of the company with its ESG objectives.
3. Identifying the areas of tax risks for the company.
4. Designing and centralizing the key tax processes and procedures.