Tax and transparency

Spotlight on: Tax and transparency

In our first Spotlight, we bring together insights and perspectives from around the PwC network, focusing on the growing importance of tax and transparency for business, and some of the steps companies are taking to rebuild trust with their various stakeholder communities.

It’s not often that tax grabs the global headlines, but in 2013, the amount of tax companies pay has dominated debate at the G8 summit and attracted increasing amounts of media coverage.

Greater regulation of the reporting and sharing of tax information, either to tax authorities or more publicly, is only part of the story. The issue of transparency has broader implications especially in a complicated business environment where companies must be able to adapt to dynamic, fast-changing markets, the increasing power of the consumer and the evolving relationships between companies and their stakeholders.

How companies manage tax and transparency is an important piece of that larger business puzzle called ‘trust’. Winning the trust of their stakeholders and society at large is crucial if businesses are to succeed in attracting and retaining more customers, maintaining employee morale as well as improving operational effectiveness.

37% of the CEOs we talked to in the 16th Annual Global CEO Survey were concerned that a lack of trust in their industry would set back their growth prospects.
Top concerns about threats to growth

Essential reading

Find out more about why tax is getting attention from business leaders around the world, what steps CEOs are taking to rebuild trust in a new world of 24/7 media scrutiny and influence, and read our latest insights on building trust.

Interested in finding out more?
Take a look at these selected insights from PwC:

In this short video, Ian Powell, PwC UK Chairman and Senior Partner, shares his view on building trusted relationships
  • Rick Stamm, Vice Chairman, Global Tax, reflects on how tax has become a new risk to corporate reputation.
  • Find out how tax regimes compare across 185 economies worldwide in Paying Taxes 2013, a report published in collaboration with the World Bank and IFC.
  • Our latest Tax Policy Bulletin highlights key takeaways from the OECD’s Action Plan published on Base Erosion and Profit Sharing (BEPS).
  • Listen to PwC specialists discuss the BEPS Coordinated Action Plan release, its potential impact, and considerations for MNCs in our webcast
  • Tell the whole tax story highlights what you can do to prevent a lack of tax transparency damaging trust in your organisation.
  • Our short animation explains why change is essential when it comes to business information, reporting and assurance.

Also on the G8 summit agenda