ESG Viewpoint – Responsible Taxation: A necessity to achieve the UN SDGs
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ESG Viewpoint – Responsible Taxation: A necessity to achieve the UN SDGs

Tax transparency is an indicator of a company’s contribution to the countries and societies it operates in and reflects its values.  We explore issues around aggressive tax avoidance and our dialogue with companies on this topic.

Corporate tax transparency is not only seen as an indication of a company’s contribution to the countries and societies it operates in, but also as a reflection of its values.

As a result, headlines of aggressive tax avoidance have had profound impacts on public trust and led to consumer boycotts and fines. Notably, these scandals have occurred in Big Tech, given the number of intangible assets and thus the ease of transfer pricing to lower tax jurisdictions. However, corporate tax scrutiny goes beyond this sector. Greater corporate tax transparency is critical for investors to accurately evaluate and assess a company’s business strategies, and risk management, given the financial materiality of the potential fines and risks.

This Viewpoint sets out our active ownership expectations on corporate tax transparency for issuers.

Interested in learning more?

Read more about why corporate tax transparency matters, our expectations for best practice and the lowdown on our engagement efforts. Download the full viewpoint to discover more.

 

11 October 2022
Lorraine Hau
Lorraine Hau
Associate, ESG Analyst, Responsible Investment
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ESG Viewpoint – Responsible Taxation: A necessity to achieve the UN SDGs

Risk Disclaimer

Views and opinions have been arrived at by Columbia Threadneedle Investments and should not be considered to be a recommendation or solicitation to buy or sell any companies that may be mentioned.

 

The information, opinions, estimates or forecasts contained in this document were obtained from sources reasonably believed to be reliable and are subject to change at any time.

 

Engagement efforts outlined in this Viewpoint reflect the assets of a group of legal entities whose parent company is Columbia Threadneedle Investments UK International Limited and that formerly traded as BMO Global Asset Management EMEA. These entities are now part of Columbia Threadneedle Investments which is the asset management business of Ameriprise Financial, Inc. Engagement and voting services are also executed on behalf of reo® clients.

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Risk Disclaimer

Views and opinions have been arrived at by Columbia Threadneedle Investments and should not be considered to be a recommendation or solicitation to buy or sell any companies that may be mentioned.

 

The information, opinions, estimates or forecasts contained in this document were obtained from sources reasonably believed to be reliable and are subject to change at any time.

 

Engagement efforts outlined in this Viewpoint reflect the assets of a group of legal entities whose parent company is Columbia Threadneedle Investments UK International Limited and that formerly traded as BMO Global Asset Management EMEA. These entities are now part of Columbia Threadneedle Investments which is the asset management business of Ameriprise Financial, Inc. Engagement and voting services are also executed on behalf of reo® clients.

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