All Tax articles – Page 2
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News and press
PRI launches investor guide on corporate tax disclosure
The Principles for Responsible Investment (PRI) has today launched new guidance for investors—Evaluating and engaging on corporate tax transparency: An investor guide—to assist them with engaging the companies in their portfolios on greater tax disclosure.
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Engagement guideExamples of tax disclosure in healthcare and IT sectors
Tax policy (organisational and board view on corporate income tax): GSK: “We have a responsibility to our shareholders to be financially efficient and deliver a sustainable tax rate. As part of this approach, we look to align our investment strategies to those countries where we already have substantial economic activity, ...
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Engagement guide
Country-by-country reporting in corporate tax disclosure
This article provides a brief summary of existing frameworks for country-by-country reporting (CBCR).
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Engagement guide
Companies reviewed in the PRI's corporate tax transparency research
The companies that were selected for the PRI’s research on corporate tax disclosure were chosen because of sector-related tax risks as detailed below.
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Engagement guide
Recommendations on evaluating corporate tax transparency
Here is an overview of the investors’ recommendations on corporate tax transparency across policy, governance and risk mangement and performance areas.
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Engagement guide
Approach to dialogue and next steps
This section provides guidance on how investors can approach engagement as well as key considerations during the process (see final section for examples of good practice).
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Engagement guide
Trends in corporate tax disclosure
This section highlights key trends in the PRI-commissioned study on tax disclosures in policy, governance and risk management and reporting areas.
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Engagement guide
Evaluating and engaging on corporate tax transparency research
Scope: The research assessed levels of corporate income tax disclosure at 50 large multinational companies in the healthcare and information technology sectors headquartered in the US (20), Europe (20) and rest of the world (10). For further explanation of why these sectors were selected, see section on selection of ...
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Engagement guide
An introduction to engaging on corporate tax transparency
There is growing interest among responsible investors to understand how companies in their portfolios approach tax-related issues.
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Engagement guideEvaluating and engaging on corporate tax transparency: An investor guide
This report serves as an investor tool for engagements on tax, drawing on key trends and gaps observed in the current status of corporate income tax disclosure practices.
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PodcastCorporate tax responsibility
Robert Wilson (MFS Investment Management) joins the PRI’s Athanasia Karananou to discuss the issue of tax and why this matters to investors. This covers Robert’s work as part of a PRI-led investor taskforce to explore and engage on the issue of corporate tax responsibility.
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PodcastCorporate ownership transparency
Secret or anonymously-owned companies pose a number of risks to shareholders - both financial and non-financial. This is primarily due to the difficulty in identifying the actual (“beneficial”) owners. Eryn Schornick (Global Witness) joins the PRI’s Olivia Mooney to discuss the issue, as well as the tools available to investors ...
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Engagement guide
How to engage companies on tax-related topics: questions for management and the board
The list of questions proposed in this section can be used to research the company’s tax profile based on current financial or sustainability reporting.
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Engagement guideHow to engage companies on tax-related topics: identifying red flags in your portfolio
Step one: engagement candidates: identifying red flags in portfolio companies Large tax gap A good indicator of potential earnings risk is the difference between the effective tax rate on a company’s income statement and the weighted average of statutory rates based on the firm’s geographic sales mix8. Although the mismatch ...
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Engagement guide
Aggressive tax planning: noticing the signs
Before engaging with companies on their tax practices, investors need to develop a good understanding of the main strategies that can be used by companies to reduce tax payments.
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Engagement guideWhy and how to engage on corporate tax responsibility
The business case for responsible investors to explore the long-term implications of tax-related risks is multifaceted.
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Engagement guide
Engaging on corporate tax responsibility: what's next?
Investors should be asking companies for better disclosure on their tax practices, to further understand if and how companies and their boards identify and respond to taxrelated risks, and government and other stakeholders’ expectations.
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