Governments require tax revenue to fund critical services upon which society and business depends. Companies have an obligation to their shareholders to be diligent in their approach to tax payments.
This goal recognizes the fact that through taxation any company must also contribute to the infrastructure it utilizes and relies upon for its success (e.g. transport networks, legal system, healthcare, education, public utilities) and even its existence, meaning that these outcomes are not at odds with each other.
To be Future-Fit, a company must do three things:
- It must commit publicly to a responsible tax policy;
- It must adopt a transparent approach to tax reporting; and
- It must not deliberately seek ways to obey the letter but not the spirit of regional tax laws.