Atlantia Group becomes first Italian multinational to secure Fair Tax Mark
Atlantia Group has been awarded the Fair Tax Mark, and becomes the first Italian multinational company to secure accreditation to the gold standard of responsible tax conduct.
Founded in 1950, Atlantia Group has operative companies across the world in the highways, airport infrastructure and mobility services sectors.
The Fair Tax Mark accreditation scheme is the global gold standard of responsible tax conduct. It seeks to encourage and recognise organisations that pay the right amount of corporation tax at the right time and in the right place. Tax contributions are a vital part of the broader social and economic contribution made by businesses, helping the communities in which they operate to deliver valuable public services and build infrastructure that paves the way for growth. Accredited businesses include listed PLCs, co-operatives, social enterprises and large private businesses.
Tiziano Ceccarani, Chief Financial Officer, Atlantia Group, said:
“The Fair Tax Mark reflects the results achieved through Atlantia’s approach to tax transparency, in addition to being reward for the commitment shown in recent years to engaging positively with the authorities in the countries in which we operate, starting with Italy. This forms part of our wider ESG strategy, which puts community engagement and transparency at the heart of what we do.”
Paul Monaghan, Chief Executive, Fair Tax Foundation, said:
“Across the world, close to 40% of multinational profits are artificially shifted to tax havens each year. Within this, Italy suffers a staggering €27bn of profit shifting, leading to an estimated €6.5bn reduction in corporation tax revenues. Atlantia Group is an exemplar of both responsible tax conduct and financial transparency. They provide a comprehensive country-by-country breakdown on their income, profits and associated taxes paid. There is also commendable clarity on the tax residency of the many subsidiaries around the world, and a commitment to follow the sprit as well as the letter of the law. An excellent numerical breakdown explains any deviations from the expected headline rate of tax, and why.”
Find out how the Fair Tax Mark could benefit your business.