Tax & cost, transparency & fairness
We seek to promote fair and transparent tax and cost systems as a way for corporations to contribute to the economies in which they operate and asset managers to demonstrate value for money. We believe openness on investment costs and tax is a key step to building understanding and trust.
We expect companies to:
- Comply with all tax laws and regulations in all countries of operation
- Recognise the importance of taxation to the funding of good public services on which they and their stakeholders rely, and to commit to paying their fair contribution
- Ensure that their tax policies and practices do not damage their social licence to operate in all jurisdictions in which they have a presence
- Disclose the taxes paid by or collected by them in each country
- Provide country-by-country reporting to demonstrate that taxes are paid where economic value is generated
- Have an approach to tax policy that is sustainable and transparent
Asset managers to: - Be compliant with LGPS/FCA Cost Transparency Initiative (CTI) for listed market managers
- Support our cost transparency objectives in all asset classes