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Tag Archive for Risk

The Essentials Of An Effective Business Disaster Recovery Plan

John Adams, Tax Connections

If there’s any guarantee in life, it’s to expect the unexpected. Small businesses are the most impacted when it comes to disasters because they do not usually have a formal disaster recovery plan. As a result, 40 to 60 percent of small businesses close permanently after a disaster, according to Liberty Mutual Insurance.

Do what you can ahead of time to not be a part of that statistic. Now is a great time to review your business’ disaster recovery plan, or to make one if you don’t have one. By focusing on some of the most critical elements of a disaster plan, you can avoid being overwhelmed by the challenge. Read more

Kanye West And Captive Insurance—There Is A Connection

My knowledge of popular culture is at best limited – and quickly declining. I know who Kanye West is. That’s it. But despite my less than literate knowledge of popular culture, this story from the Washington Post perfectly illustrates why he should have had a captive: Read more

Comments on the DRAFT OECD Handbook TP Risk Assessment

TaxConnections Picture - BooksThe above handbook was circulated for comments on 30 April 2013, setting out key suggested information how tax authorities should go about conducting transfer pricing audits.

The DRAFT was presented at a recent Africa TP Summit, which caused a bit of a scene with the South African Revenue Service authorities who stormed out of the presentation suggesting that the Professor who was presenting the content of the OECD DRAFT for delegates to take note of its details, was misrepresenting SARS. Delegates, and some later SARS officials were confused by this. But it does indicate that SARS seems to think it should not pay attention to international benchmark standards developed by the OECD, despite the fact that South Africa has observer status at the OECD, and its former Commissioner, now Minister of Finance, Pravin Gordhan was Chairperson of its Tax Administration Forum. Read more