Tax justice campaigners believe that tax dodging by international Corporations could cost the UK up to £35 billion every year. Even worse, it could cost developing countries an estimated $160 billion. Just imagine the dramatic difference that this money would make, if it was available to invest in public services.
I know governments from all around the world will agree with the sentiments of greater tax transparency, but it is up to companies themselves to lead the way. They will only do that if their customers, the British public in many cases, drag them kicking and screaming towards tax transparency.
I have written to the Chief Executives of all the FTSE 100 companies to ask them individually if they are willing to pledge their support for corporate tax transparency and if they will support a new international accountancy standard for country-by-country reporting.
Transparency is vital. So, I am publishing a list of all the company responses I receive, you can see them here. Each of us can then decide individually whether the biggest companies in Britain really DO care about the poorest in our society at home and abroad.
Sign the petition for tax transparency here