Building Public Trust

The tax reporting agenda

The tax landscape continues to evolve rapidly, with a convergence of global and local corporate reporting and sustainability disclosure standards and guidelines.

In our Building Public Trust through Tax Reporting publications in South Africa, we continue to explore the value derived from being transparent on tax.

Read the 9th edition: Building Public Trust Through Tax Reporting

For Our Humanity: A call to action

A rolling series of global dislocations are creating intense new challenges for society. Now more than ever, many people expect businesses to be guided by a clear purpose and deliver value to society.

In the face of a relentless rise in regulatory demands, today’s tax leaders face an enduring imperative to reinvent their approach to tax, to rethink how tax fits into a complex operating environment and how they communicate their broader sustainable tax strategy to remain relevant.

It is important to ask whether tax is material to the business. If the answer is yes, have the difficult and important conversations, prioritise and take action.

As the measures for company performance expand beyond financial metrics, companies have an imperative to build trust and transparency among different stakeholder groups.

Trust has always been important to PwC. It’s part of our organisation’s purpose: ‘to build trust in society and solve important problems’.

Essential to building societal trust is comprehensive and comparable tax reporting, but if an organisation does not have a robust framework to govern tax in place, the organisation cannot craft a credible narrative for taxes and how they are managed.

Invariably, tax leaders need to be more transformative in their approach to tax, their tax operations and their tax narrative. Adopting innovative approaches to governance, risk management, process improvement, engagement and a connected, data-driven approach will help accelerate your ability to transform.

Ubuntu Bethu is an ancient African mantra meaning “Our Humanity”. We believe there is a call to action: to work together to deliver sustained outcomes for communities and society – whether they are capital markets, tax systems or the economic systems within which business and society exist.

Download previous editions

How can we help?

The tax transparency landscape is evolving rapidly and becoming more complex. Keeping up to date with how your peers are responding and understanding what information your stakeholders are looking for is increasingly important, but also increasingly challenging. Our benchmarking report can show you how you compare to your peers and offer insights into areas for potential development to meet stakeholder expectations.