I have not given fair publicity to a new report from Fair Pensions, Action Aid and others on the fact that tax avoidance creates reputational risk for business. Their report, published yesterday, is here.
As they say:
The group's briefing argues that 'tax responsibility' must take into account three key insights:
1. Compliance with the letter of the law is no longer sufficient to protect business from the risks associated with tax planning
2. Lack of transparency around tax planning leads to increased risk
3. The structures and practices of tax planning are at the heart of tax responsibility, rather than the amount of tax paid, which is an outcome of these practices.
I endorse that.
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