Global policy on taxation of companies

Tax has never been more in the political spotlight than it is now. 

The fall-out from the financial crisis has led to substantial cutbacks in public spending in many countries and this has led directly to a heightened interest in the tax paid by high earning individuals and companies. Governments world-wide have emphasised the importance, for the global economic recovery, of ‘fair’ tax policies and efficient collection mechanisms. 

Well-publicised actions and initiatives by national authorities have brought it home to individuals and companies alike that a more aggressive approach is being adopted and that the process of tax planning should reflect that. 

In early 2014 ACCA conducted a review of its position in relation to tax policy in the light of current developments and the on-going work being conducted by the OECD and other authorities to bring about a new framework for government action in this area. The review was led by ACCA Council and an updated policy published (see Global Policy on Taxation of Companies: Principles and Practices).

On this video, Chas Roy-Chowdhury, ACCA’s head of tax, explains.