Corporation taxes are just a small fraction of the contribution made to the public finances by business. But they’re the taxes that land in the spotlight most often. There are a startling range of taxes which companies have to pay for which have no requirement to be identified in statutory accounts. And businesses collect and administer many more taxes on behalf of others.
From air passenger duty and business rates to VAT and vehicle excise duty; businesses generate a wide range of fiscal contribution. Having a clear understanding of your total tax contribution can help your business make informed decisions, demonstrate your commitment to tax strategy and better manage tax risk.
As well as being a powerful management tool, knowing your total tax contribution enhances your tax transparency capabilities, both for public and internal communication. Together with social, economic and environment factors, tax contribution to public finances is an essential part of your total impact.
Our Total Tax Contribution framework can help your company to identify its entire tax contribution. For almost a decade, our specialists have worked with businesses collecting, measuring and communicating the impact of tax contribution. And we can do this globally. We have experience of national and industry-wide studies and can benchmark your contribution against your peers.
Total Tax Contribution forms one of the central elements of enhanced tax transparency ; developing meaningful communications to build trust with stakeholders.