I’ve already noted today that its been announced that tax payment is going to be built into the criteria for selection for government contracts in future. I welcome that.
KPMG have also noticed this, saying in a press release today:
So what does this “tax transparency” mean? It’s an issue I will be discussing over coming weeks. but the simplest and clearest statement yet created on tax transparency comes from my design for country-by-country reporting. In this the following information has to be put on public record as part of an audited set of accounts:
Do this and it’s clear tax is being paid in the right place at the right time.
Anything less is sticking a finger in the air and hoping. Now, will they go for the real thing and say it’s country-by-country reporting or no contract? I rather hope so.