Half of FTSE100 firms report on total tax contributions

A growing number of FTSE100 companies are voluntarily disclosing total tax contributions and tax-related climate impact as part of their annual disclosures according to a new PwC report.

Tax transparency in an ESG era has found that 50 FTSE100 companies made a total tax contributions disclosure in 2021 up from 47 in 2020 while more than one third included tax as part of their task force for climate-related financial disclosures (TCFD) reporting. There was also a small increase in the number of companies issuing standalone tax reports with 26 doing so in 2021 up from 24 in 2020.

Andy Wiggins UK environmental social and governance (ESG) reporting lead at PwC said: ‘These findings represent small but significant steps towards tax transparency by major UK companies in 2021 and we can expect this issue to be widely debated in coming years. More companies...