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Tax integrity risk management by banks and regulated services providers

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 and regulated services providers may face severe reputational risks when their clients do not act with integrity and adhere to the banks and regulated services providers values when managing tax afairs. Management of tax integrity risks by banking and regulated services providers clients is therefore a key topic for banks and regulated services providers operating in the Netherlands.

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

The Dutch Central Bank (DNB), as super visory authority, assesses whether banks and regulated services providers 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 and regulated services providers when managing these tax integrity risks.

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

DNB leaves it to the bank and regulated services providers to determine which tax integrity risks are within the tax risk appetite of the bank and regulated services providers 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 and regulated services providers to (further) develop and integrate client tax integrity risk management in the organisation.

Grant Thornton follows a proven approach to provide banks and regulated services providers 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 and regulated services providers 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.

E-learning training program on tax integrity risk of bank and regulated services providers clients

Banks and regulated services providers have the statutory obligation to manage tax integrity risks of their clients. Employees that have been assigned with roles to manage these risks should be able to define, detect and manage client tax integrity risks. In collaboration with Prof. dr. Hans van den Hurk, Grant Thornton is offering banks and regulated services providers a tailor-made E-learning training program to educate employees on tax integrity risks.

Download our E-learning brochure [ 129 kb ]

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