Network Rail right on track with first Fair Tax Mark

Railway infrastructure organisation Network Rail have achieved their first Fair Tax Mark accreditation, demonstrating the company’s commitment to responsible tax conduct.

Network Rail own, develop and repair the railway infrastructure in England, Scotland and Wales, which comprises 20 of the largest stations; 20,000 miles of track; 30,000 bridges, tunnels and viaducts; and thousands of signals, level crossings and stations.

They have been assessed against the Fair Tax Foundation’s Global Multinational Business Standard, which contains criteria in areas surrounding transparency, an organisation’s tax policy, country-by-country reporting, tax notes disclosure and cash tax contributions.

Carlos Enrech, Group Head of Tax at Network Rail Group, said:

“At Network Rail we believe that transparency and sustainability in both how we work as a Group and how we work with our stakeholders is integral to our success, and tax transparency and meeting reporting standards are a key part of that. The Fair Tax Mark demonstrates our commitment in these areas and it’s invaluable to receive acknowledgement of this from a third party as trusted as the Fair Tax Foundation.”

More than 100 parent companies and 250 distinct trading companies are Fair Tax Mark accredited, including listed companies, co-operatives, social enterprises and large private businesses in the UK, Denmark, Finland, Germany, Italy, the Netherlands and Sweden.

Jaime Boswell, Head of Accreditation at the Fair Tax Foundation, said:

“We’re delighted to welcome Network Rail into our movement of progressive businesses championing fair tax practices.

“Network Rail’s newly published Tax Transparency Statement is a great example of this, explaining the business’ economic footprint through detailed voluntary country-by-country reporting data and supporting narratives, as well as confirming compliance with a range of exemplary responsible tax commitments.”