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Tax Governance and Transparency

Trust amid transformation

Tax plays a vital role in environmental, social, and governance (ESG) strategies, as investors, standard-setters, and now regulators seek more tax governance and transparency disclosures. Building trust in this evolving environment demands not only data that informs, but a story that inspires.

Tax Governance and Transparency

Tax Governance and Transparency

Trust amid transformation

Tax plays a vital role in environmental, social, and governance (ESG) strategies, as investors, standard-setters, and now regulators seek more tax governance and transparency disclosures. Building trust in this evolving environment demands not only data that informs, but a story that inspires.

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Corporate tax governance: Pressure you can feel

A range of stakeholders are pressing tax teams to strengthen governance and increase transparency as part of a broader push for adherence to ESG reporting requirements.

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Standard setters

Tax governance and transparency standards—including GRI207 and the World Economic Forum’s ESG metrics—demand more formal tax governance, a detailed tax narrative, and disclosure of jurisdictional tax data.

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Regulators

Public country-by-country tax reporting requirements will start imminently in EU with other jurisdictions including Australia looking to mandate more extensive regimes. In the US, Dodd-Frank is an SEC rule mandating tax disclosures for extractive companies. FASB and SEC are also looking at tax disclosures and country-by-country analyses.

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Investors

Potential shareholders and ESG rating agencies are looking at tax governance and transparency as they assess an organization’s tax risk profile and ESG credentials. Current shareholders are driving adoption of GRI207 and more and more are considering tax transparency as a board-level issue.

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Tax governance and transparency you can trust

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Planning
Assess your readiness
We can help you analyze your tax policy, profile, risks, and positions, then evaluate your current governance strategy and, using publicly available data, benchmark against your peers. Together, we’ll determine the tax transparency regulations, standards, and ratings models most relevant to you, and build a plan to address them.
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Execution
Implement your plan
We can help you compile your tax data and set the internal controls for your collection process, including a review and analysis of red flags. We can also support the documentation of your new policy and the education of internal stakeholders for effective, consistent implementation.
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Communication
Own your narrative
We can help you compile your quantitative and qualitative tax data, allowing leaders to drive the organizational narrative amid potential new disclosure requirements and media scrutiny. For external audiences, we can assist with the content needed for publication of tax transparency reports.
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    Processes you can customize

    Our end-to-end suite of Tax Governance and Transparency Services take you from data gathering to disclosure design.

        

    Leadership you can see

    Check out Deloitte’s latest thinking on ESG and tax transparency and its importance to ESG initiatives.

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    It starts with our people.

    A June 2022 Deloitte survey of 335 tax leaders globally on the role of the tax department in sustainability efforts asked which tax governance initiatives are most important.

    • 57% said compliance with tax governance regulatory requirements
    • 53% said aligning tax with the organization’s broader integrity, ethical culture, and risk management practices

    View the Report

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    Get in Touch

    • Diana McCutchen

      Diana McCutchen

      Partner, Business Tax Services Deloitte Tax LLP

      Contact
    • James Gordon

      James Gordon

      Managing Director, Deloitte Tax LLP

      Contact
    • Elise Kelly

      Elise Kelly

      Senior Manager, Deloitte Tax LLP

      Contact
    5 Ways Tax Leaders Can Help Reach Business Sustainability Goals

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    Part of the Tax News & Views podcast series