Tax justice campaigners opened a new line of attack today with the launch of the world's first independent accreditation scheme to show an organisation has a responsible tax policy: the Fair Tax Mark.
The Fair Tax Mark officially launched today with representatives from the first "pioneer" businesses to adopt the mark: Midcounties Co-operative, Unity Trust Bank and The Phone Co-op. Public Accounts Committee chair Margaret Hodge was also there to show her support.
The mark was developed by a team of tax justice campaigners and tax experts and will be promoted and administered by a non-profit social enterprise. The new designation is designed to confirm that a company is making a genuine effort to be open and transparent about its tax affairs and pays the right amount of corporation tax at the right time and in the right place.
After three years of high profile tax avoidance headlines, the public remains deeply cynical about how much tax businesses pay. The accreditation also...