Tax Risk Management

Tax Risk Management

The TRM is a set of measures that enables structured and continuous identification and mitigation of tax risks through the control and supervision of tax risks.

The implementation and documentation of the TRM system, as well as annual update is a mandatory requirement of the Tax Authority’s In-Depth Cooperation Program Golden level, which grants various advantages to qualifying members.

More information (in Latvian) available here here

BDO Latvia has practical experience in TRM development and update projects. By putting our know-how into practice - we can help you develop a high-quality TRM documentation that is user-friendly and understandable.

Transformation of internal tax processes 

TRM implementation will grant you a peace of mind regarding internal processes related to assessment and payment of taxes and we offer to ensure the appropriate development or update of TRM documentation. Your internal tax transformation process will be implemented by a reliable team of tax professionals with more than 5 years of experience in the development of TRM documentation.

6 reasons of tax transformation

Compliance with the criteria of Tax Authority’s In-Depth Cooperation Program Golden level.

A comprehensive map of tax risks for decision makers – know the risks and exposure of your company.

A long-term working solution that enables mitigating or minimizing of tax risks in the Company.

A focused solution enables the re-assessment of internal processes in place to implement effective and adjust ineffective control procedures. Refocus your human resources on work                    that matters.

Improves cross-department collaboration and raises employee productivity.

Tax risk control, allocation, and mitigation solution all summed up in a single actionable handbook demonstrating the roles of all the employees involved in the tax processes.