The Tax Challenge
FTSE100 companies have until 21st March to respond
The Conservative Member of Parliament for Stevenage, Stephen McPartland, has challenged the FTSE100 to commit to tax transparency.
The MP has written to the Chief Executives of all the FTSE 100 companies to ask them individually if they are willing to pledge their support for corporate tax transparency and if they will support a new international accountancy standard for country-by-country reporting.
They have until 21st March before he publicly contacts their largest shareholders to ask them to encourage some of the UK's biggest companies to take the issue seriously.
Stephen McPartland MP said "I am publishing all the company responses I receive and you can see them at www.taxchallenge.co.uk. Some of the FTSE 100 companies have not replied and I will be publishing the names of those companies who have not responded by 21st March. I will then publicly contact their largest shareholders and ask them to encourage those companies to respond and take the issue of tax transparency seriously.
"They will only do that if their customers, the British public in many cases, drag them kicking and screaming towards tax transparency. Each of us can then decide individually whether the biggest companies in Britain really do care about the poorest in our society at home and abroad."
Tax justice campaigners have calculated that tax dodging by international Corporations could cost the UK up to £35 billion every year. Even worse, it could cost developing countries an estimated $160 billion.
Read the latest responses at www.taxchallenge.co.uk
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