Companies Recognise Negative Reputational Impact of Tax Planning
This article was first published on International Tax Review, 5 September 2012
Companies in Europe are increasingly aware of, and concerned about, the effect of tax planning exposure on their company reputation, a survey conducted by Taxand shows.
The majority - 87% - of multinational CFOs questioned said that they believe tax planning could be detrimental to their business' reputation, which is a 19% increase on the results of the same survey from last year.
The issue of tax transparency has become more mainstream in the last year, with companies acknowledging the role of tax transparency when it comes to corporate social responsbility (CSR). The public wanted to know more about the activities carried out by companies, particularly in the wake of a series of scandals and at a time when governments are trying to bring in as much revenue as possible, and companies in turn are placing....
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First published on International Tax Review, 5 September 2012