Corporate tax transparency survey

A survey conducted by Christian Aid suggests that a large majority of FTSE companies would not actively oppose the introduction of a legal requirement for them to make their country by country reports public, while some would actively support it. Of 54 companies taking part, 4 actively supported the idea and 17 said they were committed to obeying any new legal requirement, although they did not comment on the prospect.

Joseph Stead, senior economic justice adviser at Christian Aid said: ‘There is growing acceptance, including from auditors such as KPMG, that public disclosure of this data is inevitable. Investors want it, and FTSE 100 companies will soon have to declare such details to the UK taxman, so publishing it makes little difference to companies unless they have something to hide. Most companies say they are committed to tax transparency but there is a wariness about voluntarily revealing more.  What companies seem to want is a level playing field across the UK and European Union – and only a legal requirement can provide that.’ See www.bit.ly/1K1g9c1.