The Fair Trade Mark is now common place on goods we buy ensuring that workers aren’t exploited, but now there is a new mark, the Fair Tax Mark.
The Fair Tax Mark Criteria assess the quality of a business’ publicly available information on key tax and transparency issues. In this context, publicly available information primarily means a full set of accounts available to all via Companies House or the company website. However, it can also include the company website and/or any other freely available printed material.
For every business type, the criteria are divided into two main categories that assess a business on:
Tax rate, disclosure and avoidance
Will your business be applying to use the Fair Tax Mark? would you buy more from a business that uses the Mark?
2 thoughts on “First there was Fair Trade, now there is Fair Tax……”
This is something that every company should definitely consider. Thank you for sharing!
Thanks for sharing Steve. I was unaware that this even existed.
I guess it depends who decides what is Fair. Does it mean everything within the law or whatever public opinion decides should be paid?
Many businesses are responsible for collecting lots more taxes than just corporation tax, with heavy penalties for getting the collection, the details or the forms wrong.
Governments have also been keen to attract and retain corporates to their territory and hence compete with each other on the most favourable tax regimes too. Bit tough for the public and the media to start accusing those who then take advantage of the rates and tax breaks offered.
On a lighter note of course you might need to change your own description to include “…….maximising taxes……..”!!