Tax integrity risk management by banks

Do you manage your tax integrity risks?

The public debate with respect to tax evasion or tax avoidance has significantly inceased in recent years. Banks may face severe reputational risks when their clients do not act with integrity and adhere to the banks values when managing tax afairs. Management of tax integrity risks by banking clients is therefore a key topic for banks operating in the Netherlands.

Under the Dutch Financial Supervision Act, banks operating in the Netherlands are required to take measures to guarantee the integrity of the bank and the financial sytem.

The Dutch Central Bank (DNB), as super visory authority, assesses whether banks are adequately equipped to recognize and manage tax integrity risks by their clients as part of the Systematic Integrity Risk Analysis. The DNB published an important document on good practices for banks when managing these tax integrity risks.

Banks need to follow a risk based approach to determine the tax integrity risks by their clients.

DNB leaves it to the bank to determine which tax integrity risks are within the tax risk appetite of the bank and therefore acceptable. Tax integrity risks have to be identified in a sytematic way and actively managed in key processes like the client due diligence and transaction monitoring processes

Watch our video

Our approach

We can assist banks to (further) develop and integrate client tax integrity risk management in the organization.

Grant Thornton follows a proven approach to provide banks with assistance and support during one or more of the following actions that banks should take to manage the tax integrity risks of their client portfolio. Download our brochure to see our full approach on the management of client's tax integrity risks.

How can we help?

Our approach

Our approach

Tax integrity policy
Tax integrity policy
Tax integrity policy
Design your tax integrity policy that includes the bank’s tax integrity risk appetite.
Implementation
Implementation
Implementation
Secondment of our tax specialists to assist with the implementation of the tax integrity risk policy.
Individual client acceptance / Client monitoring
Individual client acceptance / Client monitoring
Individual client acceptance / Client monitoring
Provide assistance with individual client acceptance/client monitoring.
Tax awareness
Tax awareness
Tax awareness
Provide trainings to your employees. For more information on our e-learning program please download the brochure and watch our video.
Jacob Mook
Gouda
Partner
Gouda
Jacob Mook is Head of tax and Service line leader specialist tax at Grant Thornton Netherlands and specialised in international tax issues such as mergers and acquisitions.
Learn more about Jacob Mook
Jacob Mook
Partner
Jacob Mook