Large business is increasingly recognising that they are accountable to a range of stakeholders, not limited to shareholders, and have obligations to those stakeholders. At the same time, stakeholders may also have a wide range of views and expectations about what measures should be in place within a large business to ensure that taxes are managed in a balanced and sustainable way.
The EBTF has joined forces with the Tax Executives Council of the Conference Board and The B Team to develop a set of best practices that large business may wish to use to demonstrate to stakeholders that they take a responsible and principled approach to tax governance and risk management, intending to bear and collect taxes in each jurisdiction where they operate, as per their legal duties and in accordance with value creation.
The final report is expected before the end of 2021. Stay tuned for more developments on this project!