MPs congratulate SSE on their fair tax stance
We’re thrilled to announce that FTSE 100 energy firm SSE has been awarded the Fair Tax Mark for the third year in a row – further improving its tax transparency and setting a positive example for other businesses to follow. The Mark confirms that SSE is paying its fair share and reporting on its contribution with the highest standards of openness.
Meg Hillier MP, Chair of the Public Accounts Committee, said:
“The public will no longer accept secret, complex tax arrangements by companies. SSE is setting the bar for other companies by openly supporting fair tax. More companies need to follow suit.”
She was joined by Caroline Flint MP who stated:
“I congratulate SSE on their Fair Tax Mark accreditation. By their efforts, SSE set an important example to businesses everywhere – that greater transparency is nothing to be afraid of. I hope more businesses will follow their lead to make tax transparency matter-of-course.”
SSE’s Talking Tax booklet, in which they explain their tax contribution clearly and includes country-by-country disclosures, is a great example of best practice on tax. This simple, accessible format ensures a wide audience can understand SSE’s tax affairs, helping to build trust with the public and its shareholders.
Emily Kenway, Director of the Fair Tax Mark, said:
“SSE has led the charge on tax transparency and this year increased it further with more enhanced and detailed reporting. It’s fair to say it’s one of the most transparent companies in the UK when it comes to tax.
“It should be applauded for its willingness to be open, direct and clear about the taxes it pays and the contribution it makes in the countries it operates in.
“Government and wider society expect these high standards of business and we want to work with more UK and multi-national companies to help them build trust and show they’re acting responsibly and within the letter and spirit of the law.”
Gregor Alexander, Finance Director of SSE, said:
“For the third year in a row we’ve taken positive steps around the transparency of our tax affairs. Paying the right tax, in the right way at the right time is a business’ duty to the society it operates in, the customers it serves and the shareholders it represents.
“At SSE we’ll continue to build on the transparent reporting of our tax affairs and would hope other businesses would join us in raising the standards. After all, it is in all our interests that the UK has a healthy tax base from which to support the public services we all rely on.”
To gain the world’s first independent accreditation for fair tax, SSE provides increased information that moves its disclosure well beyond the current requirements of UK company law including ruling out the use of tax havens, committing to country-by-country reporting and clear, transparent statements on its tax approach.
We’re thrilled to have reaccredited them and hope to see many more FTSEs follow their impressive lead.