The ICAEW has reiterated its support for a new “fair tax” mark after criticism from some of the institute’s members.
When the new independent accreditation scheme was launched last month, the ICAEW welcomed it as a potential boost for consumer confidence.
The idea behind the intiative is that “a fair tax business seeks to pay the right amount of tax in the right place at the right time and can be held to account on its tax behaviour by the public based on the information it publishes”, Fair Tax said on its web site.
But after criticism from some ICAEW members - who decides what is a “fair” amount of tax to pay was a common question) - the institute gave a fuller explanation for its support for the fair tax mark, which has been developed up by tax campaigners, including Richard Murphy.
The ICAEW said it supported the principle of a fair tax mark...