GAC Folk

4 thoughts from Ingrid Francisque

Ingrid Francisque

Tax is not our enemy

Unfortunately, tax has a bad reputation. Legislative complexity, compliance requirements and non-transparency in a few jurisdictions are heavy burdens for corporates. Companies usually feel cheated because they pay ‘too’ much tax. The rise of ‘Tax Shaming’ scandals hasn’t improved its image either. Despite all the negative aspects, there are multiple tax key performance indicators which can help us analyse the efficiency of a corporate structure. GAC must use them!

"Today, it takes more brains and effort to make out the income-tax form than it does to make the income."

Alfred E. Neuman

When I speak to my GAC colleagues about tax issues, it seems they are trying to reach the moon. I’d rather see it as a mountain, which is way more accessible. We can reach the top with the right equipment and a smart approach. Before starting the journey, I have to ensure I produce the right map and tools to navigate. There is no reason to panic during the climb. We must keep sight of the top where we will find what we all are looking for: THE MONEY.

Transfer Pricing is not my hobby

When you buy a banana, there are several groups that have delivered it from the tree to the supermarket and promoted it to you. They all need to be paid. The same applies for GAC’s products and services – and that process is what we call Transfer Pricing. Most GAC colleagues don’t make that link between departments and the final customer. When drafting transfer pricing documentation, the questions you should ask yourself are: “How does my role bring value to GAC? What do I do to satisfy the customer?”

Don’t shoot the messenger!

There is so much animosity towards my department! I need to make this clear. I didn’t create taxes. I am not here to make the life of my colleagues worse. I am here to help make our companies and entities tax compliant, ease their burden and avoid operational disruption. So please, instead of putting your energy into a negative email, redirect it to your local file and transfer pricing documentation. It can only add value and make better use of your time.

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