Co-ops lead the way on fair tax
Co-operative trade body and retailer receive Fair Tax Mark
Co-ops UK, the trade body for co-operatives, and Radstock Co-operative Society, are the latest businesses to be awarded the Fair Tax Mark.
The Radstock Co-operative Society receiving the Fair Tax Award.
The two organisations join other co-operatives which have helped pioneer the Mark including the Co-operative Phone and Broadband and Mid-Counties Co-operative.
Ed Mayo, secretary general of Co-operatives UK, the network for Britain's co-operative businesses said:
"Co-operatives are businesses with a difference. Their purpose is not simply to make a profit but to provide a service to members and distribute surpluses fairly. It's no surprise that co-ops have pioneered the Fair Tax Mark, it’s a natural fit."
Tax avoidance is now the leading business concern amongst consumers. The Fair Tax Mark was launched by Ethical Consumer and Tax Research UK last year to enable organisations to demonstrate that they are paying their fair share of Corporation Tax and reporting on tax transparently.
Radstock Co-operative is a South West-based retailer. Owned and run by its customers, it operates 15 stores alongside post offices and a dairy farm. Radstock's chief executive, Don Morris, said:
"Co-operatives like Radstock have always been committed to a fair approach to tax. We operate with the highest integrity and the Fair Tax Mark is a simple way for us to demonstrate this."
The Mark now has 12 companies signed up including 5 co-operatives, the FTSE 100 energy giant SSE and FTSE 250 company transport company Go Ahead (Southeastern and Southern trains, Go-Ahead buses).
Meesha Nehru, Programme Director at the Fair Tax Mark, said:
"We've seen how co-operatives have been key to the roll-out of Fairtrade across the world, so the potential to see the same happen on 'tax' is incredibly exciting. Being involved in and contributing to local communities is a fundamental part of being a co-operative, and a socially responsible approach to paying corporation tax is the most sizeable community investment a business is ever likely to make."
What is a tax haven? Richard Murphy from Tax Justice Network explains all >