Looking ahead to 2020 and beyond
The year 2020 may turn out to be a seminal year for tax justice. The new UK Government has pledged to cancel the planned reduction in corporation tax from 19 to 17%, although it remains to be seen if this welcome announcement survives the challenges of Brexit and those who still long for the country to become Singapore-on-Thames. Internationally, the likes of Facebook and Google are now facing digital sales taxes in France, Spain and elsewhere, and the OECD is seeking to find a way to ensure that multinationals “pay tax wherever they have significant consumer-facing activities and generate their profits”. Albeit, the current United States administration seems minded to derail these and related measures that seek to ensure that profitable companies pay a minimum rate of tax, wherever they operate.
At the Fair Tax Mark, we will continue to advocate responsible tax conduct and urge progressive businesses to step forward and ‘say what they pay with pride’. We plan to expand our impact in the UK, whilst also establishing new accreditation standards that will allow us to certify businesses incorporated outside the UK for the first time.