Research On Improving Tax Risk Management Level Of Company Z Based On ERM2017 Framework

Since the 1990 s,the world's major economies have experienced a rapid development,accompanied by regional and even global economic crises.In this process,the companies have also gained huge growth space,but the risks always follow.When it turns into a substantive event,the small ones will cause damage to the company and its stakeholders,while the large ones will cause the butterfly effect that affects the entire industry and even the world.Based on this reality,the theory and practice of company risk management have drawn more and more attention,and considerable progress has also been made.Company Z,as a provincial sales branch of a state-owned petrochemical enterprise listed at home and abroad,has standardized operations,sound systems,and strict supervision.It has a relatively complete internal control system and information system.In 2019,its assets have reached more than 30 billion Yuan and its operating income has exceeded 100 billion Yuan,and it has certain industry representativeness and typicality.However,with the improvement of China's tax collection and management system,the advancement of collection and management technology,the progress of the tax collection and management,and also the update of tax authority's risk management concept and tools,If the inherent thinking and management system are maintained,the company's risk exposure will continue to expand,which will affect the corporate economic benefits and reputation.Therefore,this article takes the company's tax risk management system as the research object,and sorts out the current situation of corporate tax risk management based on the ERM2017 released by COSO,analyzes its deficiencies and specific causes for thesedeficiencies,and also seeks specific ways to optimize the solution to help companies achieve value enhancement.Firstly,this paper reviews the existing research achievements on tax risk and risk management domestically and abroad,summarizes the concepts of tax risk and tax risk management,and makes a definition based on the research purpose of this paper.Then it briefly introduces the elements and principles of ERM2017,explains the major differences between ERM2004 and ERM2017.Secondly,after introducing the general situation of Company Z and the current situation of tax risk management,combined with the investigation and interviews,it puts forward some problems in its tax risk management system.Finally,under the theoretical guidance of ERM2017,the paper analyzes the internal causes of the above problems from five elements and principles,combined with the company's actual situation and author's practical experience,puts forward optimization suggestions.Furthermore,the paper puts forward the specific measures of improving the corporate tax risk management system,so as to improve corporate performance and value.