‘Tax Transparency by Multinationals’ – a new report from VBDO
On Monday, VBDO published its latest Tax Transparency benchmark, a comprehensive study of 68 Dutch listed companies. The study ranks the multinational companies on the transparency that they provide regarding their responsible tax strategy and its implementation. The methodology of this benchmark is based on the six Good Tax Governance principles, which were published in 2014 by the VBDO and Oikos. These principles are as follows:
A. Define and communicate a clear tax strategy
B. Tax must be aligned with the business and is not a profit centre by itself
C. Respect the spirit of the law. Tax compliant behaviour is the norm
D. Know and manage tax risks
E. Monitor and test tax controls
F. Provide tax assurance
The research has included discussions with multinational companies, governments, NGOs, tax advisory firms and investors.
For the full report, please click here.