Nine of the world’s biggest companies, with operations in more than 150 countries, together with The B Team, have set out a new set of Responsible Tax Principles, covering key areas such as tax management strategy, interactions with authorities, and reporting.
The B Team is a not-for-profit initiative, formed by a global group of business leaders committed to developing a ‘Plan B’ for the way the private sector does business, with a greater focus on sustainable development. The name derives from the group’s belief that ‘Plan A’, where business is motivated primarily by profit, ‘is no longer an option’.
The principles, drawn up with input from multinational businesses, civil society, investors and representatives from international institutions, call on businesses to:
make boards accountable for tax policy;
publish a tax strategy and be transparent about its implementation;
be transparent about the entities they own around the world and why; and
provide information on their overall effective tax rate, and on the taxes paid in countries in which they operate.
The nine companies who have endorsed the principles are: Allianz, BHP, AP Moller-Maersk, Natura Cosméticos, Repsol, Royal Dutch Shell plc, Safaricom, Unilever and Vodafone Group plc.
The B Team has published a report, A new bar for responsible tax, setting out these principles ahead of the first global conference of the joint IMF, OECD, UN and World Bank Group ‘Platform for collaboration on tax’, taking place in New York on 14-16 February. Conference sessions will cover:
domestic resource mobilisation and the state;
the role of tax in supporting sustainable economic growth, investment and trade;
the social dimensions of tax (poverty, inequality, and human development);
Nine of the world’s biggest companies, with operations in more than 150 countries, together with The B Team, have set out a new set of Responsible Tax Principles, covering key areas such as tax management strategy, interactions with authorities, and reporting.
The B Team is a not-for-profit initiative, formed by a global group of business leaders committed to developing a ‘Plan B’ for the way the private sector does business, with a greater focus on sustainable development. The name derives from the group’s belief that ‘Plan A’, where business is motivated primarily by profit, ‘is no longer an option’.
The principles, drawn up with input from multinational businesses, civil society, investors and representatives from international institutions, call on businesses to:
make boards accountable for tax policy;
publish a tax strategy and be transparent about its implementation;
be transparent about the entities they own around the world and why; and
provide information on their overall effective tax rate, and on the taxes paid in countries in which they operate.
The nine companies who have endorsed the principles are: Allianz, BHP, AP Moller-Maersk, Natura Cosméticos, Repsol, Royal Dutch Shell plc, Safaricom, Unilever and Vodafone Group plc.
The B Team has published a report, A new bar for responsible tax, setting out these principles ahead of the first global conference of the joint IMF, OECD, UN and World Bank Group ‘Platform for collaboration on tax’, taking place in New York on 14-16 February. Conference sessions will cover:
domestic resource mobilisation and the state;
the role of tax in supporting sustainable economic growth, investment and trade;
the social dimensions of tax (poverty, inequality, and human development);
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