Corporate Tax Transparency

Governance Risk
Corporate Tax Transparency

Corporate Tax Transparency

LAPFF has recognised that tax transparency is an increasing concern for investors and has begun to engage investee companies on this topic
LAPFF has recognised that tax transparency is an increasing concern for investors and has begun to engage investee companies on this topic

Tax avoidance has gained traction as the likes of Starbucks, Amazon and Google have faced legal and reputational challenges related to their tax payments, and the issue is progressing at the international policy level through the OECD Base Erosion and Profit Sharing initiative.

 

In 2014, LAPFF sent a questionnaire to the FTSE 100 asking about their tax governance and tax transparency practices in an attempt to determine how seriously these companies were treating tax risk. The survey results suggested that only a handful of companies are pro-active in dealing with tax risks and the implications of tax legislation stemming from the BEPS programme.

 

As a result, the Forum has been engaging with companies individually to follow up on the survey results and to encourage companies to disclose tax practices that investors can use to assess investment risk.

 

LAPFF also works on this issue collaboratively with other investors. For example, it recently co-signed a letter with other investors requesting a meeting with Google to discuss its tax practices in light of renewed claims that the Company has not paid its fair share of taxes in the UK.

Corporate Tax Transparency Publications


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Corporate Tax Transparency News

 

Tax Transparency

LAPFF