Transparent tax practices

The fair determination and public disclosure of the amount of tax paid and where it is paid are important parts of sustainable tax practices. Developing tax policies and related practices are complex tasks. There is no universally accepted standard of what constitutes “good” tax practice and adequately detailed disclosure. Therefore multinational companies that opt for tax transparency must take the expectations of all stakeholders and relevant legislation into account.

• in establishing and operating good tax practices;
• in preparing transparent tax reporting;
• in developing data collection methods to compile information for public disclosure.