Investors want Amazon to use the Global Reporting Initiative’s Tax Standard to disclose its tax arrangements.
Boards beware: tax transparency is back on the agenda, with shareholders demanding the biggest companies come clean on how much they pay and where. In the crosshairs this week is Amazon, which faces a shareholder motion to produce a “tax transparency report” that directly links the payment of a “fair share” of tax to a societal contribution. The shareholders worry Amazon currently holds back from disclosing the tax it pay overseas. “Currently, Amazon does not disclose revenues, profits or tax payments in non-US markets, challenging investors’ ability to evaluate the risks to our company to taxation reforms, or whether Amazon is engaged in responsible tax practices that ensure long-term value creation for the company and