Tax
$420 billion in corporate profits is shifted out of 79 countries every year, representing $125 billion in lost tax revenue, according to research presented by the World Economic Forum. Since tax avoidance has become such a big corporate accountability issue, the Global Reporting Initiative has added a new standard, GRI 207: Tax 2019. In terms of the standard (which remains voluntary), if tax is determined to be a material issue, companies should report on their approach, governance, control, risk management, stakeholder engagement and management of concerns related to tax. This won’t solve tax avoidance, but greater transparency is progress.
— Wayne Visser
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From Purpose Inspired: Reflections on Conscious Living, Volume 2. Buy on Lulu ↗