News

Fair Tax Foundation call on British Virgin Islands to overhaul beneficial ownership disclosure

The British Virgin Islands have, after much delay and prevarication, drafted proposals for access to their database of corporate beneficial ownership. However, their current proposal is woefully inadequate. We would like to see the British Virgin Islands significantly enhance transparency and improve access to their beneficial ownership register. Last week, we submitted a response to the government of the Virgin …

UK procurement policy should require suppliers to show responsible tax conduct

The UK government’s limited recognition of the importance of tax compliance in its new national procurement policy is welcome. But we would like to see it go much further and explicitly require suppliers to demonstrate responsible tax conduct in order for them to win public contracts. Last week, the UK government released a statement on a new national procurement policy, …

UK should up its public Country-by-Country Reporting amid global developments 

There is a lot happening in the world right now when it comes to public Country-by-Country Reporting (pCbCR). And the UK is well placed to be the next major economy to enact a pCbCR law and continue the push for worldwide corporate tax transparency.  Businesses that report on a country-by-country basis disclose details about revenue, profit and taxes for each …

GRI report finds low pCbCR uptake but Fair Tax Foundation can help

As tax transparency continues to rocket, interest in Public Country-by-Country Reporting from businesses and legislators is growing. But multinationals might be unsure of how to take the first steps. A recent survey from the Global Reporting Initiative (GRI) found that even among those multinationals committed to tax transparency and adopting GRI 207 – the tax standard from the Initiative – …

Leeds Building Society and Fair Tax Foundation champion Good Business Charter’s Fair Tax Friday

We are delighted to be partnering with the Good Business Charter and Leeds Building Society this Friday 14 February to celebrate Fair Tax Friday as part of Good Business Fortnight. This awareness-raising fortnight (3-14 February) organised by the Good Business Charter celebrates the efforts of businesses across the UK in championing responsible practices and making a positive impact on society …

Business sees surge in tax disputes around the world and inquiries to increase

Big global surveys of tax and finance professionals are an excellent barometer of how people are feeling out there in the field at a time of unprecedented change. So it was great to see PwC’s latest polling on the subject of tax disputes around the world.

The professional services firm found an increase in tax inquiries from authorities over the past three to five years, with this trend set to continue.

OECD Global Minimum Tax still very alive despite Trump attempts to throttle

US president Donald Trump’s intention to pull the US out of the OECD’s Global Minimum Tax (GMT) deal is bad news. But it by no means spells the end of the OECD GMT. In a presidential memo issued on Monday 20 January, Trump said he would recapture “our Nation’s sovereignty and economic competitiveness by clarifying that the Global Tax Deal …

Bayesian Shift secure Fair Tax Mark

Pioneering financial trading business Bayesian Shift have achieved their first Fair Tax Mark, adding another string to their bow of using finance for good. Bayesian Shift bring together financial trader Mark Waddoups and machine learning expert Tennessee Hickling to use their trading skills to redirect profits to social causes. Between 2019 and 2023, the business made more than £2mn in …