Leading Companies Take Bold Step Toward Responsible Tax

09/05/2018
New Tax Announcement_Website

The B Team is pleased to announce that KCB Group PLC, Rio Tinto and Anglo American are joining the growing group of companies endorsing The B Team Responsible Tax Principles. These leading companies are firmly committed to driving fairer, more sustainable tax systems and growing global standards of responsible tax practice.  

With their endorsement, KCB Group PLC, Rio Tinto and Anglo American all recognise the crucial role they play in growing strong, sustainable economies by contributing to the societies in which they operate through taxes and other payments to government.

“People around the world expect large companies to pay their fair share of taxes, and saying publicly that we do that shouldn’t be difficult or a question of choice,” commented Alan MacPherson, Group Head of Tax at Anglo American, “Having clear principles which all can look at to set expectations helps everyone to make decisions about tax behavior.”

These companies, joining the inaugural endorsing group of Allianz, A.P. Moller Maersk, BHP, Natura & Co, Repsol, Shell, Unilever, Vodafone Group Plc and Safaricom, recognise that leadership on responsible tax rebuilds trust. They also believe bold action is needed to forge a new consensus on how modern companies should approach tax—with integrity and responsibility. “I hope this step continues to rebuild trust between business and communities,” MacPherson added.  

Moreover, their endorsement cements transparency as a core feature in responsible tax practice. “In the interest of transparency, multinational companies need to demonstrate the benefits they bring countries and communities. Tax transparency is no longer a ‘nice to have” but an absolute must,” said Ann-Maree Wolff, Head of Tax at Rio Tinto, which has voluntarily published the taxes it pays since 2010.

Rebuilding trust in the private sector, and in the tax systems that companies are part of, is a shared responsibility—one that includes collaboration with tax authorities and a range of stakeholders. By partnering with investors, international institutions and civil society, multinational companies can be at the forefront of courageous collaborative efforts to bring this important conversation forward.  

“Adoption of responsible tax is no longer an issue of if, but when. It’s a route all organisations will eventually have to take,” said Alex Luyo Omunyerere, Head of Tax at KCB Group PLC, “We propose to lead by example in our interactions with peers and with authorities by instilling within our corporate culture a high moral standard towards tax management.”

The B Team encourages others to follow the leadership example set by KCB Group PLC, Rio Tinto and Anglo American and the other companies endorsing The B Team Responsible Tax Principles. Learn more about The B Team Responsible Tax Principles and how you can join here. Contact Madeleine McCarroll, Senior Manager, Governance & Transparency, The B Team at mm@bteam.org for more information.

About The B Team Responsible Tax Principles

Developed by multinational businesses with input from civil society, investors and representatives from international institutions, The B Team Responsible Tax Principles were launched at the Tax & SDG Conference at the United Nations Headquarters in New York in February 2018. The B Team Responsible Tax Principles represent a new blueprint, designed to raise the bar on how businesses approach tax. They are  the first consolidated effort from a group of cross sector, cross regional companies to articulate best practice in seven key areas of tax, from corporate governance to relationships with authorities to transparency.

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