‘Fair Tax Mark’ launched
A new organisation, the Fair Tax campaign, recently published its report on ranking 25 well-known British retailers according to the transparency and fairness of their tax affairs, with a ‘Fair Tax Mark’ awarded to those who meet specific criteria.
The Fair Tax campaign assesses each company in three areas: how much information it publishes; whether it pays an ‘acceptable rate’ of tax on profits and declares a ‘fair part’ of that profit in the UK; and whether it uses tax havens.
Each category is given a score (between 0 and 5) and those companies achieving 12 points or more are awarded the fair tax mark. Only two on the list of 25 retailers are judged to have achieved this status – food company Greggs and Majestic Wine.
The Fair Tax campaign says it intends to carry out similar surveys of the tax performance of major companies in other industry sectors, in an attempt to increase public awareness and discussion on corporate tax issues.
More details are available here.
Date: 15th July, 2013
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