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.
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.