Building Transparent Tax Compliance by Banks

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This book analyses the role banks play in the provision of aggressive tax planning arrangements. It examines the nature of banking, the complex structured financing transactions developed by banks and how they are then used by both banks and their clients. It also explores the internal governance processes that banks use to manage tax risk and the prevention, detection and response strategies applied by different revenue bodies in responding to the challenges that banks pose. The book makes a number of recommendations for revenue bodies and identifies best practices for consideration by banks.



Governance and risk management in banking

• Revenue bodies want assurance that banks’ risk and governance processes offer protection to both banks and revenue bodies.

• The governance and risk processes of some banks may not be sufficiently robust for revenue bodies to rely on.

• Risk and governance processes are an important feature of a bank’s overall regulatory risk framework. Understanding them and testing their effectiveness can assist revenue bodies in their risk assessment of banks.


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