How much tax should companies pay?
Author: Triodos Bank, Published on: 10 October 2013
Tax avoidance by means of aggressive tax planning by companies has been the focus of a major debate recently. In response, international governments have recognized that tax rules need to change…Triodos Bank’s view is that companies have a responsibility to pay their fair share of tax, and that multinational companies should pay taxes in the countries where their economic activities occur. Triodos Bank therefore welcomes the recent action plan of the OECD to improve and harmonize tax rules with the aim of curbing tax avoidance…Triodos sent a questionnaire on tax transparency to all 125 investee companies in the four Triodos SRI funds…The responses told a story that tax transparency is still not high on the public agenda for the majority of companies. Only four companies responded to have a publicly available tax policy…[Also refers to Google, Johnson Matthey, Novo Group, Novo Nordisk (part of Novo Group), Reed Elsevier Group, Starbucks, Vodafone, WPP]