New global guide for business recommends Fair Tax Mark
A global research project are calling on companies to commit to take action on fair tax. And they recommend the Fair Tax Mark as a way to do so.
The Embedding Project are a global research project working for the common good to help companies embed sustainability across their operations and decision-making.
Their recent guide, Fair Tax: A Getting Started Guide, comprehensively sets the scene for the current corporate tax climate. It lays out the challenges posed by aggressive tax planning and tax avoidance, and outlines international efforts to address these. These include OECD initiatives such as Pillar Two, and voluntary initiatives such as the Fair Tax Mark.
Listed as a key player in the document, the Fair Tax Foundation are heavily cited and we welcome the guide as a new resource for companies looking to tackle tax responsibly and transparently.
The guide goes on to suggest mid- and long-term commitments for companies that are key tenets of the Fair Tax Mark, such as disclosing beneficial ownership, and shunning artificial use of tax havens. Like the Fair Tax Foundation, the Embedding Project would like companies to pay their fair share of tax at the right time, in the right place, in compliance with the spirit, as well as the letter, of the law.
Interim targets include developing a tax strategy, which the Fair Tax Foundation’s friendly certification team are more than happy to help companies with.
It’s great to see so many Fair Tax Mark-certified businesses referenced in the guide as case studies, including Lush, Ørsted, Unite and Iberdrola.
Chloe Almond, research analyst at the Fair Tax Foundation, said:
“Responsible tax shouldn’t be a specialist subject. It should be part of how every business understands their wider impact. We are grateful to Ariel Fabbro, Brandon Toews, Stephanie Bertels and the Embedding Project for creating such a clear, practical guide that draws on Fair Tax Mark principles. Resources like this help more companies take their first steps towards paying their fair share of tax responsibly and transparently.”
