The CTCP allows companies to receive faster legal certainty in tax-related matters. Companies also benefit from a boost to their tax image and from improved corporate governance and internal risk management systems.

The existence of a robust Tax Control Framework – i.e. a set of processes, internal control procedures and roles and responsibilities ensuring that a company’s tax risks are known and controlled – is one of the key features together with a pro-active and open dialogue.

The ultimate goal is to achieve faster legal certainty for companies and improved compliance with tax obligations.

The CTCP is built upon eight key principles:

• a single point of contact and a follow-up team
• business knowledge and business-related insight
• compliance with legal tax obligations and equal treatment in terms of tax
• tax strategy and planning transparency within authorised legal boundaries
• proactive notification and transparent communication
• presence of a Tax Control Framework
• faster legal certainty by working in the present
• a tailored audit strategy.

The CTCP covers income tax, value added tax, tax assimilated to income tax, and miscellaneous taxes that fall under the authority of the LE Administration (with the exception of provisions relating to levying and collection of taxes).

The CTCP targets very large companies that are subject to corporate income tax or non-resident corporate income tax.

These are identified based on their turnover, balance sheet total, number of employees and amount of taxes paid.

If there are other companies in their group, these will also be included in line with consolidation rules.

The companies should have a Tax Control Framework in place.

• More hedged tax risks
• A single point of contact
• Faster legal certainty
• An improved tax image
• Enhanced corporate governance
• More robust risk management systems
• More voluntary compliance
• More efficient tax audits
• Fewer disputes.