Our solution for the reporting standard GRI 207 Tax 2019
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Our solution for tax reporting
Since January 1, 2021, every company reporting on its sustainability activities in accordance with the GRI Standard of the Global Sustainability Standards Board (GSSB) must comply with GRI Standard 207 for published reports and other documents. This applies whenever taxes are an essential topic for the organisation. Companies not wanting to publish a full sustainability report in accordance with this Standard have the option of only applying parts of this Standard (by indicating which standards have been met).
Our approach
Ever more companies are publishing a sustainability report – either because they are required to do so or because they voluntarily wish to do so. Stakeholders expect ethical behaviour from a company, also with regard to corporate taxation.
We help you to identify the appropriate scope of reporting for tax transparency, address the current status of your company's tax strategy, identify areas needing optimisation, make the necessary changes, and then prepare the appropriate section of the report.
Our solution
Working together with you, we develop the tax transparency report or elements of your company’s tax approach. We begin by determining how ready you are to be transparent and evaluate management’s current management tax strategy. In doing so, we first work with you to define your sustainability objectives and your strategic orientation with regard to sustainability.
We guide you in:
- Formulating your tax strategy
- Setting up processes to regularly review the tax strategy
- Developing an approach to regulatory compliance
- Linking the tax approach to business and sustainable development strategies
We will be happy to support you in implementing a new tax governance and control framework – but of course, we also work with your current system. In doing so, we also create mechanisms to reduce tax risks and enhance the trust in your company of both the public and your stakeholders.
We analyse the status quo and advise you on how to deal with stakeholders, help you to better involve them, and also help you manage any tax concerns that your stakeholders might have.
We offer the following modules:
1. Readiness check according to the criteria of the GRI 207 Tax
- Determination of the tax strategy
- Definition of tax governance, control, and risk management
- Assessment of stakeholder interactions
- Handling of concerns related to taxes
- Check completeness with regard to the GRI 207 Tax
- (Optional) Collect data for country-by-country public reporting
2. Optimise affected processes and review sources of information
- Gap analysis
- Development of tailored recommendations for improvement
3. Ensure compliance & audit readiness
- Implementation and application of the reporting standard
- Documentation of the processes and structures
- Assurance that it is verifiable
- Reporting
How you benefit
Our experts collaborate in multidisciplinary teams to ensure your success. They provide the necessary transparency, build trust for you, and thus enhance your company’s reputation. This reassures your investors, customers, and suppliers that your company is being managed in an ESG-compliant manner at all times. We strengthen your profile, making it easier for you to identify and attract new talent that particularly values sustainability and ethical behaviour in an employer
Contact
Stefan Neubauer Partner - Frankfurt on the Main
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