On Wednesday the European parliament will vote on a package of tax-avoidance measures and ask the European commission to consider these and respond. The package has been drawn together by the economic and monetary affairs committee, following the TAXE committee investigation.
As businesses accredited to the Fair Tax Mark, we are pleased to see that the European parliament will consider the merits of establishing a Fair Tax Payer label in each member state. It is important that progressive business practice is recognised and other companies are challenged to be as transparent as possible. Enhanced transparency is vital, whether from country-by-country reporting or from public statements on tax policies and governance. Businesses must increasingly demonstrate that they are open and transparent about their tax affairs, and pay the right amount of corporation tax at the right time and in the right place.
Tax is the corporate responsibility issue of our day. How a business responds to this issue now defines how it is viewed by a significant proportion of the public. We look forward to the European parliament considering these issues fully, and the commission’s response.
Martin McEwen Head of group tax, SSE
Kim Coles Finance director, Lush
Ben Reid Chief executive, Midcounties Co-operative
Laurence MacKenzie Chief executive, Winder Power
Ed Mayo Secretary general, Co-operatives UK
Clare Gosling Chief financial officer, Unity Trust Bank
Vivian Woodell Chief executive, The Phone Co-op
Ramsay Dunning Managing director, Co-operative Energy
Matthew Bloch Managing director, ByteMark Hosting
Don Morris Chief executive, Radstock Co-operative
As a director of the Fair Tax Mark I'd like thank all involved.