Fair Tax Mark – the gold standard of responsible tax conduct
The Fair Tax Foundation was launched in 2014 and operates as a not-for-profit social enterprise. Our Fair Tax Mark accreditation scheme seeks to encourage and recognise businesses that pay the right amount of corporation tax at the right time and in the right place. We believe companies paying tax responsibly and transparently should be celebrated, and any race to the bottom resisted.
Tax contributions are a key part of the positive social and economic impact made by business. The growth of tax havens and unethical corporate tax conduct have become prominent concerns across the world. Aggressive tax avoidance negatively distorts national economies and undermines the ability of responsible business to compete fairly, both domestically and internationally. Across the globe, close to 40% of multinational profits (US$950bn) are artificially shifted to tax havens each year, leading to a US$240bn reduction in corporate income tax revenue.
Initially, Fair Tax Mark accreditation was available only to businesses headquartered in the UK, but this will be extended internationally to multinational enterprises on 25th November 2021, with the launch of a ‘Global Multinational Business Standard’.