Tax Governance

Stay prepared for Irish Revenue interventions with confidence

Irish Revenue interventions, including audits, are a significant aspect of tax compliance. Interventions can be triggered by various factors, including discrepancies in tax returns, unusual transactions, or random selection.

Grant Thornton provides expert guidance to ensure your tax governance processes are robust, helping to minimise risks and maintain compliance including:

• Minimise the risk of triggering an audit for your business.
• Being prepared before and during an audit leading to smoother and quicker resolutions.
• Provide regular reviews and updates to your tax processes to ensure ongoing compliance with the latest regulations.

Ensure your directors can confidently fulfil their compliance obligations

Directors of certain companies are required to prepare a Director’s Compliance Statement, which confirms that your company has appropriate policies and procedures in place to ensure compliance with tax laws. Our expert team will provide advice and support to:

• Ensure your directors can confidently sign off on compliance statements.
• Provide clear and transparent documentation of compliance efforts for your business.
• Identify and mitigate potential compliance risks before they become issues.

Maintain robust TP practices, minimise risk, and align with standards

Transfer pricing regulations require businesses to document and justify the pricing of transactions between related entities. Our expert Transfer Pricing Team will review your TP governance processes facilitating:

• Your transfer pricing policies align with both Irish and international regulations.
• Maintain comprehensive and accurate documentation to support your transfer pricing positions.
• Reduce the risk of disputes and adjustments by tax authorities.

Simplify your CSRD reporting with tailored tax governance solutions

The Corporate Sustainability Reporting Directive (CSRD) mandates that certain companies disclose information on their environmental, social, and governance (ESG) practices. Our experts can assist with your double materiality analysis ensuring tax is properly considered in your CSRD reporting, providing for:

• Integrating tax governance with broader ESG reporting requirements.
• Ensure the accuracy and completeness of reported information.
• Building trust with stakeholders through transparent and reliable reporting.

Position your business as a leader in sustainable practices

The EU taxonomy is a classification system establishing a list of environmentally sustainable economic activities. It aims to direct investments towards sustainable projects and activities. Talk to our experts today to ensure your business meets the required standard:

• Ensure your business activities align with the criteria set out in the EU taxonomy.
• Provide accurate and comprehensive reporting on sustainability metrics.
• Enhance the attractiveness of your business to investors focused on sustainability.

Avoid penalties and manage cross-border compliance seamlessly

Grant Thornton can help you stay compliant with the Corporate Criminal Offence (CCO) and Senior Accounting Officer (SAO) regimes. Our team will help you to:

• Ensure adherence to UK tax regulations and avoiding penalties.
• Keep detailed records to demonstrate compliance with CCO and SAO requirements.
• Identify and address potential compliance risks in cross-border transactions.