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Foreword to a series of papers on managing tax risk post BEPS

Foreword to a series of papers on managing tax risk post BEPS

The TRM Seven Steps Special Report is based on more than 120 lectures presented

to many multi-national corporations (MNEs) and smaller businesses (SMEs) looking to minimize one of

the largest financial risks facing them: Tax!

We hope that these notes and extracts will demonstrate how important it is to be proactive. Tax is always

and will always remain a large expense for any successful business. Especially post BEPS.

States will always look to their most successful taxpayers to collect 80{780f53c297e2c008074d23b865a0ce0b35a4f08852d8e1e49466a5a902c4e44e} of the tax from the 20{780f53c297e2c008074d23b865a0ce0b35a4f08852d8e1e49466a5a902c4e44e} most

successful taxpayers. It makes commercial sense. The balance of tax officials’ time will most probably be

spent chasing after tax criminals, those who are blatant tax evaders and offenders.

Tax authorities around the world want to know that their cash flow from taxpayers is stable, now more than ever.

A good estimate is that about 20{780f53c297e2c008074d23b865a0ce0b35a4f08852d8e1e49466a5a902c4e44e} of all taxpayers are those whom they rely on the most. If these 20{780f53c297e2c008074d23b865a0ce0b35a4f08852d8e1e49466a5a902c4e44e} of

taxpayers have devised a TRM™ process to ensure ongoing transparency and compliance through

a self-audit process, the costs of collection and the costs of compliance are equally reduced, with an

accurate result.

Disputes that may emerge will be limited to differences of opinion and interpretation where taxpayers

have embarked on proactive tax planning, as opposed to arguing about unknown tax pitfalls.

Now it is for you to read on and open the door to a unique and invaluable proactive tax risk management

process which will effectively handle one of the biggest financial risks in your business.

May this whet your appetite and give you an idea as to how to be proactive in your tax dealings and keep

your business under the radar screen of tax authorities, world-wide. But if you should be approached, you will

be ready to defend yourselves.

Be assured that the comfort in doing so is immense!

Prof. Dr. Daniel N. Erasmus