UK: COMMON FRAMEWORK FOR DISCLOSING TAX INFORMATION

Given the current focus on tax transparency and reporting, and the government’s consultation document with proposals to introduce a legislative requirement for large businesses to publish their tax strategy as it relates to or affects UK taxation, UK companies need to consider establishing a process for determining what content can, and might, be usefully produced to satisfy the demands of the different stakeholder groups but balancing the cost to business and noting that a prescriptive “one size fits all” approach is not the right way to proceed with transparency.

Read an August 2015 report prepared by the KPMG member firm in the UK: Discussion document on a common framework for disclosing tax information