Responsible Tax Practice: From Policy to Transparency and Fair Tax Mark

Tax is increasingly recognised as a core part of responsible business conduct. It is closely linked to trust, transparency, fair competition and the ability of societies to finance public goods. For companies working with due diligence, sustainability reporting and responsible supply chains, tax is therefore not only a compliance issue, but also a question of governance, risk management and corporate social responsibility.

This webinar will give participants a practical introduction to what responsible tax practice means in a business context. We will discuss how companies can develop and implement a tax policy, how tax can be integrated into due diligence and sustainability work, and what greater tax transparency can look like in practice.

The webinar will also highlight concrete experiences from Ørsted, a Denmark-based global renewable energy company and one of the world’s largest generators of renewable energy and operators of offshore wind farms. Ørsted is also a member of Ethical Trade Denmark, our Danish sister organisation, strengthening the relevance of their contribution for companies working with responsible business conduct across the Nordic region. Ørsted will share insights from their work on tax policy, responsible tax practices and the process towards achieving the Fair Tax Mark. Fair Tax Foundation will explain what the Fair Tax Mark is and what companies can learn from the certification process, while Tax Justice Norway will place responsible tax practice in a broader context of financial transparency, present results from the recent UN Framework Convention on International Tax Cooperation and the Norwegian context

Target audience

Companies and public entities working with responsible business conduct, sustainability, tax, procurement, reporting, governance, compliance or due diligence. The webinar is particularly relevant for those responsible for developing policies, reporting on responsible business conduct, following up suppliers, or strengthening internal governance on tax and transparency.

Learning objectives

• Understand why tax is an important part of responsible business conduct and due diligence.
• Learn what a responsible tax policy can include, and how it can be made operational.
• Gain insight into how companies can work with tax transparency and reporting in practice.
• Hear concrete experiences from Ørsted’s work with responsible tax practices and the Fair Tax Mark.

Prior knowledge

No prior knowledge is required.

Preparation

Participants may wish to consider whether their organisation has a tax policy, how tax risks are addressed in governance and due diligence processes, and how transparent the organisation is about its tax approach, structures and payments.