SSE to sponsor Fair Tax Week for second year running
As an early champion of the Fair Tax Mark movement, SSE will sponsor Fair Tax Week for the second year running.
The week, which runs from 6-14 July 2019, is a UK-wide celebration of companies and organisations committed to paying their fair share of corporation tax, and an opportunity to explore the positive contribution this makes to society.
Gregor Alexander, SSE Financial Director, said the week-long event shines a light on the tax debate and SSE is delighted to be sponsoring it again.
He said: “We’re proud to have been reaccredited with our fifth Fair Tax Mark and to see the growth of the organisation and, importantly, the tax debate since we first achieved the independent kitemark in 2014.
“Utilities provide an essential service and it’s only right they hold themselves to high standards and we’re delighted to be co-sponsoring Fair Tax Week with Pennon, the most recent FTSE company to join the growing list of businesses placing importance on tax transparency.”
It is estimated around £400bn of global corporate profits are shifted annually to tax havens, with corporate tax revenue losses in the UK of approximately £7bn per annum.
Paul Monaghan, Chief Executive of the Fair Tax Mark, said: “Corporation tax is often presented as a burden, but it shouldn’t be. Not when considered against the huge array of public services it helps fund – from education, health and social care to flood defence, roads, policing and defence.
“During Fair Tax Week we’ll be celebrating the organisations that are proud to pay the right amount of tax for the benefit of all and to ensure a level playing field for businesses. We are delighted Pennon Group plc and SSE plc are supporting this year’s Fair Tax Week.”
SSE was the first FTSE 100 company to be accredited with the Fair Tax Mark in 2014 and has been awarded the mark every year since. It has committed to transparent tax policies, no offshoring, and paying the right tax, at the right time and in the right way.