Royal London Asset Management, Aberdeen Standard Investments and Legal & General Investment Management are among investment groups preparing to push companies to state publicly how much tax they pay in each country they operate in. The investors are backing a new reporting standard focused on corporate tax from the Global Reporting Initiative, a non-profit which offers sustainability-focused reporting guidance, arguing that better disclosure will boost transparency and reduce risks. The GRI standard which is being made public on Thursday will request that companies disclose all jurisdictions where they are liable for tax along with details such as the names of the relevant entities, revenues from intragroup transactions from other countries and corporate income tax paid. Read More...
Royal London Asset Management, Aberdeen Standard Investments and Legal & General Investment Management are among investment groups preparing to push companies to state publicly how much tax they pay in each country they operate in. The investors are backing a new reporting standard focused on corporate tax from the Global Reporting Initiative, a non-profit which offers sustainability-focused reporting guidance, arguing that better disclosure will boost transparency and reduce risks. The GRI standard which is being made public on Thursday will request that companies disclose all jurisdictions where they are liable for tax along with details such as the names of the relevant entities, revenues from intragroup transactions from other countries and corporate income tax paid.
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