Hello everyone, welcome to the next edition of the PWC Taxbyte podcast series.

And today we will talk about tax control frameworks, a very important and hot topic nowadays.

And for that I invited three colleagues of our tax reporting and strategy team in my

virtual recording studio. And that is Martin, Annalise and Nicholas. Very welcome all three of you.

I invited you because you have experience with the implementation and design of tax control frameworks.

And of course, there's links to the ever-increasing tax governance in general,

I would say. So in this podcast, I would like to explore with you a little bit the impact and

importance of tax control frameworks. And later on, we also will talk about more practical. How do you

approach this as a company but to start

off i would say on the least can you share a bit what is a tax control framework actually about

yes thank you peter and hello everyone um i think there are actually many definitions of a tax

control framework but generally it is defined as a set of internal processes, internal control procedures,

ensuring that the company's tax risks are known and controlled. It's a framework within an organization that brings together the organization systems, its processes, its people,

in order to ensure accuracy and completeness of data and of all internal and external tax reporting

obligations. I really think it's very important to understand that an effective tax control

framework is not something that just exists on its own. On the contrary,

it should really be part of the overall internal control framework of a company. Also, the objective

of a tax control framework is to help companies be in control of their taxes. But even more important

for me, but today it helps evidence that the company is in control of their taxes, but even more important for me, but today it helps evidence that the

company is in control. You should not only be in control, no, you should also be able to evidence

that towards your stakeholders, be it your internal stakeholders such as the board or the audit

committee, but also towards your internal stakeholders such as investors, tax authorities, the public in general.

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