Preface to Tax Risk Management – An International Special Report

TaxConnections Blogger Jerry Donnini posts internet sales tax principlesThis TRM™ tax-Radar™ 7 Steps Special Report is based on over 150 lectures presented to many multi-national corporations (MNE’s) and smaller businesses (SME’s) looking to minimize one of the largest financial risks facing them:  tax.

It looks at where they have failed to properly recognize the potential tax exposure they face.  The case studies in this Special Report are very real, and based on years of experience.  The names, places and specific details are not, so as to preserve the secrecy of the taxpayers.

One thing this Special Report will do for you is teach and guide you, step by step, that in matters of tax it is extremely dangerous not to be proactive.  No matter what anyone says, tax is always, and will always remain a large expense for any successful business.  States will always look to their most successful taxpayers to collect 80% of the tax from the 20% most successful taxpayers.  It makes commercial sense.  The balance of tax officials’ time will most probably be spent chasing after tax evaders.

IRS’s around the world want to know that their actual cash flows from taxpayers are stable.  A good guess is that about 20% of all taxpayers are those who they rely on the most.  If these 20% 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 shoddy unknown tax pitfalls.

Now it is for you to read on, and open the door to proactive tax risk management (TRM™), and manage effectively one of the biggest financial risks in your business.

In accordance with Circular 230 Disclosure

International Tax Attorney, EA, US Tax Court Practitioner in the USA, Counsel of the High Court in South Africa, adjunct Professor of International Tax at Thomas Jefferson School of Law.

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