The growth of tax havens and unethical corporate tax conduct have become prominent concerns across the world. Aggressive tax avoidance negatively distorts national economies and undermines the ability of business to compete fairly, both domestically and internationally.
Across the globe, 35% of multinational profits (US$1tn) are artificially shifted to tax havens each year, leading to a 10% worldwide reduction in corporate income tax revenue (which equates to a US$170bn annual deficit).
It is no longer enough for a business to claim that their tax conduct is acceptable as long as they are not breaking the letter of the law.
It helps your business demonstrate it pays the right amount of corporate income tax at the right time and in the right place – following both the spirit and the letter of the law.
Sought by listed PLCs, global multinationals, co-operatives, social enterprises and more, the Fair Tax Mark shows stakeholders that your tax conduct has been independently assessed and rated by a trusted social enterprise.
Our Global Multinational Business Standard satisfies the key reporting recommendations of GRI 207, the Principles for Responsible Investment (PRI) and the OECD Guidelines for Multinational Enterprises on Responsible Business Conduct. Accreditation will also go a long way to demonstrate alignment to the EU’s Corporate Sustainability Reporting Directive and associated Minimum Safeguards, which flag ‘taxation’ as a material consideration.
Founded a decade ago to help reverse the global race to the bottom on corporation tax, the Fair Tax Foundation[1] are aiming to level up our impact fivefold with a Community Share Offer unveiled today. Launching on social investment platform Ethex[2], the Community Share Offer will seek to raise £450,000 to allow the Fair Tax Foundation to embed tax justice …
Fair Tax Leaders features senior professionals from across the Fair Tax Mark accredited business community. Here, Coventry Building Society Senior Manager Finance Ops and Controls Claire Newton discusses the evolving role of the tax function and the benefits of increased reporting requirements. Coventry Building Society are the UK’s second largest building society and were first accredited in 2022. They were founded …
The Tax Responsibility and Transparency Index has a brand-new website, allowing multinational companies even better access to this pioneering benchmarking tool. The Index, which was announced at the European Parliament in April 2024, enables businesses to benchmark themselves against high-bar, civil society frameworks, pending legislation and pioneering companies broken down by country or sector. This leadership pool is anonymised but participating …
