Join us in #CelebratingFair this Fair Tax Week
From 5th to 13th June, the UK’s Fair Tax Week celebrates organisations that are proud to pay their fair share of corporation tax and the positive contribution that tax makes to society. Fair Tax Week incorporates Tax Justice Sunday, 6th June, an opportunity for people of faith to come together and support responsible tax conduct.
We have much to celebrate. More than 60 businesses have now been certified to the Fair Tax Mark, an independent certification which recognises organisations that demonstrate they are paying the right amount of corporation tax in the right place, at the right time. These include brands such as Timpson, Lush, and Richer Sounds, FTSE listed companies including SSE and Marshalls plc, as well as co-operatives, family businesses and social enterprises. Additionally, 12 local councils have now approved the Councils for Fair Tax Declaration, which sees authorities doing what they can within existing frameworks to stand up for responsible tax conduct.
Right now, ground-breaking developments are afoot on the international stage. The Biden administration has lit a fire beneath discussions on the taxation of multinationals, backing a substantive minimum corporation tax around the world and proposing that, across the globe, the undertaxed profits of our largest multinationals should be apportioned back to the countries where the companies’ real economic activity takes place. This would have a seismic impact with billions of additional taxes paid in both the US and across Europe – including at least £13.5bn additional revenue estimated for the UK.
The likes of France, Germany and Italy have quickly responded to publicly back the US’s proposals, as has the IMF. In the UK, the bar has been raised with Labour coming out in support of a substantial global minimum tax rate for multinationals.
The world has a once in a generation opportunity to embed tax justice and eradicate profit-shifting. It’s vital the UK steps up to the plate and publicly backs what the US and other progressives are trying to do. With the UK hosting a G7 gathering of world leaders in June, it needs to create space on the agenda of this meeting to help secure the advancement of tax justice.
Fair Tax Foundation’s Chief Executive, Paul Monaghan, will be speaking at the Christians on the Left Summer School event ‘How to Make Tax Fair’ on Monday 7th June on recent policy developments as well as the growing numbers of Fair Tax Mark accredited businesses, and local councils supporting the Councils for Fair Tax Declaration.
For more on Fair Tax Week, sign up to our newsletter follow us on Twitter @FairTaxMark, or find us on Facebook.
The link to church resources is:
Tax Justice Sunday - Church Action for Tax Justice (catj.org.uk)
Sign up for Christians on the Left’s Summer School events here.
