GRI proposes a new tax transparency standard

The vexed question of whether country by country (CBC) reports should be put into the public domain has been a sticking point in debates on responsible tax practice for years. Organisations such as the Tax Justice Network argue that if companies publish details of revenues profits and taxes broken down by country this would allow the public to judge whether they are paying a ‘fair share’ of taxes. Ethical investment companies have also joined the call for public CBC reporting. Some tax professionals agree that public CBC reporting would be a game changer for responsible tax but others argue that the detailed raw figures are not appropriate for public disclosure would cause confusion and...