What Are the Consequences of Poor Tax Risk Management?
Poor tax risk management can lead to several negative outcomes:
Financial Losses: Significant fines and penalties can drain a business's financial resources. Legal Issues: Non-compliance can lead to legal actions, including lawsuits and criminal charges. Operational Disruptions: Tax audits and investigations can disrupt normal business operations. Reputation Damage: Publicized tax issues can damage a business's reputation, affecting customer trust and investor confidence.