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16 January 2020

Global Reporting Initiative: Rising global tax scrutiny shows the case for change


The increasing number of inquiries into the tax practices of corporations demonstrates why a transition towards transparent tax disclosure is urgently required, said Elise J Bean, former United States Senate tax investigator.

Governments around the world, including several EU countries and Australia, are currently reviewing the tax practices of multinationals.

The GRI Tax Standard responds to concerns over the impact corporate tax avoidance has on the ability of governments to fund services and support sustainable development. It is now available as the latest addition to the GRI Standards, the most widely used sustainability reporting framework.

During 15 years with the Senate Permanent Subcommittee on Investigations, Ms Bean handled high-profile investigations, hearings and legislation on tax avoidance, corporate misconduct and financial corruption. Setting out why global change is needed in support of tax transparency, she said:

“Corporate tax transparency is the next big sustainability task. In 2018, at least 90 hugely profitable US corporations paid no US tax at all – an outrage that is not sustainable morally or in light of the societal investments needed worldwide.  

Corporations want better infrastructure, an educated workforce, patent enforcement, trade protection, and more.  And some corporations impose enormous costs on society through environmental damage, worker injuries, financial fraud, or worse.  

Full press release on GRI



© GRI - Global Reporting Initiative


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