Tag: tax reporting

Until now, reporting non-financial information on tax has largely been voluntary, but many guidelines do exist and companies that are taking the lead are doing so by providing disclosure and explanatory narratives far beyond the statutory requirements.

Global demand for greater tax transparency, emanating from corporate scandals such as Google, Amazon, Starbucks, Apple and Nike, is leading the boards and audit committees of South African corporations to ask more difficult questions than ever before about how organisations are governing their tax affairs and managing tax risks. The risk of reputational damage and financial loss is simply too high to be ignored.