Services for “Tax & Sustainability”
How to successfully switch to a sustainable tax policy
What does sustainability have to do with tax transparency? This question gained prominence when the Global Reporting Initiative (GRI) introduced the “GRI 207: Tax 2019” standard in December 2019. It provides detailed rules for how tax transparency reports should be prepared.
“The sustainability megatrend does not stop at tax law, and will keep us much busier than many people currently expect.”
Many companies already prepare their sustainability reporting in line with the international framework of the GRI. As a result, this standard is also significant for tax departments. In principle, GRI 207 has been applicable since January 1, 2021.
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Meeting the expectations of stakeholders
The new standard increases stakeholders' expectations related to tax transparency. To meet these expectations, companies must find answers to various questions:
- Do we already have the right approach to tax transparency reporting?
- What is the importance of GRI 207 for a company that already relies on GRI standards for sustainability reporting?
- What organizational challenges do we face in our tax compliance management system if we want to take this new standard into account?
- How can we combine a sustainable tax strategy with our corporate strategy?
- How can our tax risk management approach help to prevent potential reputational damage?
- Does our company need to provide insights into its representation of interests, its publicly expressed positions on tax controversies, and its membership of associations and working groups on tax policy?
- How can we report our business data as part of public country-by-country reporting?
Our services
From developing a tax strategy through to successful reporting
PwC's experts support you to develop tax sustainability in your company. In the area of tax law, we provide comprehensive advice on everything from the design of a sustainable tax strategy and the implementation of the necessary processes and structures, through to the concrete application of GRI 207 and comprehensive tax sustainability reporting. In doing so, we always keep an eye on the consequences of tax transparency, both within the company and in terms of public relations.
An overview of our services:
- Strategy and location consulting related to aspects of tax sustainability
- Preparation and evaluation of tax transparency reports (in line with GRI 207)
- Benchmarking for tax transparency
- Traditional auditing services
- Due diligence consulting for M&A
Strategy and location consulting related to aspects of tax sustainability
To enable you to adequately reflect tax sustainability considerations in your strategic decisions, we provide an overview of the impact of your company's tax payments on the United Nations' 17 Sustainable Development Goals (SDGs).
In doing so, we analyze your data with regard to various sustainability criteria. In addition, we support you in making decisions about the choice of location by taking sustainability considerations into account. In this way, you can integrate tax sustainability into your business decisions.
Preparation and evaluation of tax transparency reports (in line with GRI 207)
We support you in preparing tax sustainability and transparency reports. We cover the entire process chain from planning and initial preparation through to the evaluation of existing tax transparency reports in order to comply with relevant regulations and standards such as GRI 207: Tax 2019.
Benchmarking for tax transparency
Stakeholders are paying increasing attention to ratings based on criteria related to Environment, Social and Governance (ESG) and Corporate Social Responsibility (CSR). As a result, these ratings are important instruments to consider with regard to future capital market valuation and financing conditions.
We analyze your tax transparency reporting and use benchmarking methods to prepare you for global sustainability rankings. In this way, you will gain an understanding of future tax transparency requirements.
Traditional auditing services
We offer audit services for tax transparency reports to support members of the management board in their responsibility to monitor key functions.
Due diligence consulting for M&A
Environmental, Social and Governance (ESG) considerations are already a central component of due diligence in the context of mergers and acquisitions. We complement our deals advisory services for corporations and private equity firms with the topic of “Tax & Sustainability” – for buyers and sellers.
Our promise
We apply our professional expertise and experience in tax sustainability reporting to help you to successfully transform to a sustainable tax strategy.
“Sustainability also requires tax transparency.”
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