What is the issue?
Research has found that ‘tax avoidance’ has been the number one concern of the UK public in connection with corporate conduct for a number of years, but the majority of the UK “corporate responsibility” community still shy away from tackling the issue. Corporation Tax is vital for economic growth and development, be that in the UK or across the developing world. However, Corporation Tax is under attack the world over, with rates plummeting over recent decades. In addition, globally, c.€600bn of corporate profits are being shifted to tax havens, with corporate tax revenue loss of c.€200bn per year: both the EU and UK lose 20% of corporate tax revenue to tax havens. The case needs to be made afresh for Corporation Tax. Businesses should not only pay the taxes due, but celebrate this as one of the primary contributions they can make to paying their way in society.
What will the project try to achieve?
The Fair Tax Mark is unique in the manner in which it engages business and encourages them to champion their good tax conduct: enabling consumers to identify and support progressive businesses, providing a positive mechanism for businesses to communicate their commitment to Fair Tax and expanding the public movement for tax justice. The Mark will develop. launch and establish a Fair Tax Fortnight in the summer of 2018. This will not only celebrate those business that pay the right amount of tax and communicate this clearly, but serve to highlight the public goods that these taxes pay for and encourage engagement on pressing policy change needs.
Who might be interested in this project?
The project aims to challenge head-on the narrative that tax is a burden to be reduced, and provides an opportunity for progressive business to pursue best practice and shout about it. It will also provide NGOs with the opportunity to highlight the public goods that these taxes pay for and encourage engagement on pressing policy change needs. Bespoke opportunities will be developed to enable Local Government to engage with the aims of Fortnight.