On 19 November, our Corporate Governance Focus Team held the third meeting of the “Dialoghi sulla Corporate Governance” series. This one was dedicated to the need for BoDs to be involved in and have control over tax matters.
Professors, tax experts, prosecutors and tax managers discussed the importance of BoDs managing tax risks by adopting a “tax control framework”, the need for tax depts to work closely with other depts, and the impact of the new law decree, commonly called the Handcuffs on Tax Evaders Decree (manette agli evasori).
From the discussions, it emerged that the best way to avoid tax risks, and thus criminal charges, is preventative action, i.e., by ensuring BoDs manage tax matters and by raising awareness across other main departments.
Transparency, cooperation and certainty are key words to apply a new approach to tax matters in corporate governance.
Check out the interviews with some of the experts in the video available here