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ActionAid releases new tax responsibility guide for FTSE investors

A detailed guide for investors and businesses seeking a more socially responsible approach to corporate tax has been published today by ActionAid. The guide, Tax responsibility: an investor guide, timed to coincide with the spring AGM season, draws on the first comprehensive survey of the FTSE100’s tax policies, practices and reporting. It shows how aggressive tax practices are now generating reputational and regulatory risks for companies in developing countries as well as the UK. ActionAid hopes investors and other corporate stakeholders will use the criteria set out in the guide to probe and improve companies’ tax planning, management and practice. In three sections, the guide summarises the risks for companies associated with aggressive tax practices, especially in developing countries. It outlines seven criteria on tax responsibility, providing questions investors can use to help determine a company’s risk and performance. Mike Lewis, ActionAid Tax Justice Policy Adviser, said: “Investors are demanding more information about the tax practices and positions of the companies they invest in. Everyone would benefit from clear benchmarks which allow companies to communicate their practices clearly, and investors to gauge risks. More…

News selected by Covalence | Country: Global | Source: Action Aid

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