Enhanced credibility and trust 

By being open and transparent about tax strategy, businesses can strengthen their credibility and build trust among both internal and external stakeholders. This transparency also fosters greater confidence from customers, investors, partners, and society at large.

Risk management 

By communicating tax risks and being transparent with how tax is managed, companies can mitigate potential risks and avoid future complications. A thoroughly planned and transparent tax strategy can help avoid potential tax complications and negative reactions from public authorities and other stakeholders. 

Strengthen corporate reputation

By demonstrating a commitment to society and public welfare through paying taxes and fees in the countries where it operates, a company can strengthen its corporate image. This improves relationships with customers, employees and society through being a responsible and ethical entity. 

Competitive advantages

By contributing positively to society through tax and fee payments, companies can stand out amongst competitors and differentiate themselves on the market. Both customers and investors can be assured that they are supporting companies with clear and transparent tax strategies

Compliance with regulations and standards

Complying with standards such as GRI 207: Tax and other relevant regulations and frameworks ensures that companies fulfil the legal and ethical requirements for operating in a responsible manner. This helps avoid legal problems and fines that can occur when such compliance is neglected.