With social purpose at the forefront of most businesses today, organizations need to respond to the call for tax transparency in a way that aligns to their corporate values. This is imperative to enhancing and retaining public trust.
David Linke, Global Head of Tax & Legal Services
Global South
Global North
Held on Thursday 5 October 2023
Held on 9 November 2023
Future of Tax podcast episode featuring: Chris Morgan, Global Leader, KPMG Responsible Tax Program, KPMG International, Hannah Hawkins, Principal, KPMG Washington National Tax, KPMG in the US, Becky Knight, Practice Manager, KPMG Global ESG Tax and Legal, KPMG International.
The ESG agenda is becoming an increasingly strategic issue for heads of tax, as demonstrated by the focus of investors and regulators on tax transparency and public disclosures. While not so long ago in Denmark, and as is still the case in other countries, heads of tax and investors debated on the need for tax transparency, the conversation here has now moved to what exactly to report on, and how the information and data disclosed by companies on their tax affairs should and will be used by investor and other stakeholders.
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The ESG agenda is top of mind for many companies and investors and tax reporting is one area that can serve to bring ESG practice to life. However, there is a feeling that existing standards might either be too simplistic or overly challenging for some companies or not appropriate at their stage in a transparency journey. Therefore, the B Team, KMPG International and Jericho have started to focus on how to arrive at tax metrics to support ESG goals that could gain wider buy-in.
Euro Tax Flash from KPMG's EU Tax Centre - 6 April 2022
Speech by David Linke, Global Head of Tax & Legal Services, KPMG International.
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At the moment there is a dilemma that, on the one hand, some companies consider existing standards for country-by-country type disclosures (e.g., GRI 207) are too challenging, while on the other hand, disclosures required by accounting standards are too high level to give much meaningful information on a company’s tax profile. The B Team, KPMG International and Jericho Chambers have therefore started to focus attention on how to arrive at an approach, or possibly certain tax metrics, to support ESG goals which could gain wider buy-in and encourage a critical mass of companies to become more tax transparent.
We are grateful to all of our contributors, including:
Program Executive and Content Manager at Jericho Chambers
Head of Global Tax Policy, KPMG International at KPMG International
Global Leader for the KPMG Responsible Tax Program at KPMG LLP
at KPMG in Germany
Manager, Global Tax Policy at KPMG International
Manager, Compliance Management & Transformation at KPMG Acor Tax
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Tax today is attracting attention like never before – among governments and citizens, in boardrooms and the C suite, and across businesses and their supply chains. Tax is at the forefront of negotiation and debate, and it is driving decisions on policy, trade, strategy and business transformation.
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