Tax transparency is about trust and demonstrating accountability. Attitudes towards tax are shifting, with tax activity and governance becoming measures of sustainability and with tax transparency often being used as a key metric for demonstrating a responsible attitude.
There are a number of tax transparency reporting standards and frameworks that have already been implemented or are proposed to be implemented. Many companies are also voluntarily choosing to disclosure more information about their tax affairs to tell their story in line with their broader sustainability goals. Tax transparency is a journey and will be different for everyone depending on the industry, prior activity and preferred transparency destination.
KPMG tax advisers can assist you in understanding and progressing tax transparency within your business, helping to inspire trust from investors, customers and regulators.
KPMG Tax Impact Reporting is a new tax transparency solution, covering a range of offerings to support you on your journey to improve ESG tax governance and reporting.
- Review of existing tax policy or developing fit for purpose tax policy.
- Identification and review of tax risks and identification of key gaps in the control framework.
- Tax transparency benchmarking.
- Compilation or review of tax impact report.
