First Fair Tax Fortnight launched
The Fair Tax Mark scheme, which accredits businesses and organisations across the UK committed to paying the right amount of corporation tax at the right time and in the right place, is pleased to announce the first Fair Tax Fortnight, 9th – 24th June 2018.
Fair Tax Fortnight will be a UK-wide celebration of the companies and organisations that are proud to pay their fair share of corporation tax, and an opportunity to explore the positive contribution this makes to society.
Preceding the fortnight will be a Fair Tax conference, sponsored by SSE, the first FTSE 100 business to become a Fair Tax Mark organisation, and featuring leaders from business, academia, politics and campaigning who will explore key topics such as responsible tax planning; how to tackle tax avoidance; and the case for Corporation Tax.
The Fair Tax Mark certification scheme was launched in February 2014 to allow businesses that are paying tax in a responsible way to demonstrate this commitment to their customers, contractors and associates. Already more than 1,500 shops and offices ranging from AMT coffee bars, to Richer Sounds and the Co-op Group are Fair Tax Mark accredited, helping consumers understand more about their business practices and make informed decisions about who they spend with and purchase from.
Fair Tax Fortnight will be supported by a dedicated online platform that will detail Fair Tax developments and events across the UK. Businesses and supporting organisations will be organising events during the fortnight, which will be uploaded to and promoted by the new Fair Tax Fortnight website from 4th April 2018.
Meg Hillier MP, Chair of the Public Accounts Committee, said: “Too often, tax makes the headlines for all the wrong reasons. But taxes are vital to sustain quality public services. It’s great to see an initiative like Fair Tax Fortnight, which celebrates the many, many companies and organisations that are seeking to do the right thing and are proud to pay their fair share of corporation tax. The public are increasingly aware of companies’ tax arrangements and the fair tax mark helps consumers identify which businesses support fair taxation.”
The first Fair Tax Fortnight will be a celebration of all businesses and organisations that agree that companies should pay the right amount of corporation tax at the right time and in the right place, and who overtly shun the artificial use of tax havens and contrived tax avoidance practices.
Paul Monaghan, chief executive, Fair Tax Mark said: “Corporation Tax is often presented as a burden, but it shouldn’t be. Not when considered against the huge array of public services it helps fund – from education, health and social care, to flood defence, roads, policing and defence. It also plays a crucial role in holding the whole tax system together – helping to counter financial inequalities and rebalance distorted economies.
“There is an almost daily stream of stories of evasion and aggressive avoidance – which not only distort our economy but also undermine the opportunity for business to compete fairly. It is estimated that €600bn of corporate profits are annually shifted to tax havens, with corporate tax revenue losses globally of €200bn per year. That’s why we’re committed to championing those organisations that recognise the need for business to play its part in contributing to these vital public services, operating on a level playing field and making a positive contribution to the economy and the communities they operate in.”