News

Latest analysis of impact of 15% Global Minimum Tax on large multinationals

In a working paper released this week, The Global Minimum Tax and the taxation of MNE profit, the OECD has updated their impact assessment of the Global Minimum Tax (GMT) – which seeks to ensure that large multinational enterprises with revenues above EUR 750 million are subject to a 15% effective minimum tax rate regardless of where they operate. They …

Fair Tax Council, Westminster City, pushes for new regulations to clean up the high street

Westminster City Council is one of almost 60 UK local authorities to have signed up as a Fair Tax Council, and stands out on account of its additional pledge to tackle dirty money in the locality. The London council’s efforts have now gone so far as to potentially influence national policy, securing a commitment from the Shadow Treasury team to …

Fortum first company in Finland to gain Fair Tax Mark for responsible tax conduct

Fortum’s announcement Fortum has been accredited with the international Fair Tax Mark, becoming the first Finnish company to secure accreditation to the global gold standard of responsible tax conduct. The independent, third-party accreditation confirms Fortum’s long term commitment to responsible tax management, financial transparency, and following the spirit and letter of the law. “We are delighted to receive the Fair …

NATS lands Fair Tax Mark accreditation

NATS, formally National Air Traffic Services, has secured its first Fair Tax Mark accreditation, and joins the global movement of businesses committed to responsible tax conduct. The leading provider of air traffic control services in the UK, NATS often handles over 2.5 million flights and 250 million passengers each year. Operating beyond the UK, the business also offers services to …

Independent verification helps build trust in responsible tax claims

The Ipsos Global Trustworthiness Monitor reported in 2023 that less than a third of the global public trust business leaders to ‘tell the truth’ (30%) or ‘generally behave in an ethical way’ (29%) - albeit trust levels vary widely across the 21 countries surveyed. Given this lack of trust, independent third-party verification is crucial for enhancing credibility of corporate claims …

Vast majority of UK public want Government to take action on economic crime in British Overseas Territories

Our friends at the UK Anti-Corruption Coalition (UKACC) have today released polling results on Britain's role in tackling economic crime in its offshore financial centres. It comes as British Overseas Territories* representatives arrive in London for a key meeting, which is set to include a discussion on public registers of beneficial ownership. At first glance it may not seem obvious …

Responsible tax behaviour strongly resonates with both customers and employees

In various regions around the globe, there is a growing inclination to support businesses that exhibit responsible tax conduct – a trend that is on par with other ethical considerations. There is a profound desire to celebrate and champion those businesses that pay their rightful share of taxes while openly rejecting the use of tax havens and contrived tax avoidance …

Responsible tax is an undervalued sustainability champion

Carbon emissions, plastics use, equality and diversity – all familiar terms to any sustainability or ESG professional. But responsible tax conduct? Despite being a vital contribution made by any business, relatively few companies talk with pride about paying tax fairly and transparently.

Seven magnificent reasons to pursue Fair Tax Mark accreditation

There are a thousand and one issues out there that business is being asked to champion – on top of the day-to-day challenge of thriving commercially in an ever more competitive world. Approaches and acronyms abound, be it ESG or CSR or SRI or SDGs, with each urging that a business prioritise their favoured issues.

So, why should a business prioritise responsible tax conduct and tax transparency, and pursue Fair Tax Mark accreditation?

Vital loopholes remain in the UK’s fight against dirty money

The terrible Russian invasion of Ukraine laid bare the extent of the UK’s exposure to illicit finance, prompting concerted counter efforts by parliamentarians. This week, a welcome second Economic Crime Bill edges closer to being finalised, but substantial loopholes are in danger of being left unaddressed unless amendments – backed by leading anti-corruption and tax justice groups – are accepted.