SSE plc, the UK's second largest energy supplier, has become the first FTSE 100 company to be awarded the Fair Tax Mark.
Launched in February 2014, the Fair Tax Mark is the world's first independent accreditation process for identifying companies making a genuine effort to be open and transparent about their tax affairs.
Richard Murphy, director of the Fair Tax Mark, commented: “Today is a major breakthrough for the campaign for responsible tax behaviour with the award of the Fair Tax Mark to SSE plc. As was the case with Fairtrade and other successful ethical standards, we anticipate that the accreditation of a major FTSE 100 company will prove to be a game-changer for the reporting of responsible tax planning in the UK.”
“Corporation tax avoidance costs the UK economy billions a year – money that is needed to support vital health, education and social security services in this country.”
Alistair Phillips-Davies, chief executive of SSE, said: “As a provider of an essential service SSE firmly believes it has a responsibility to contribute to the societies in which it operates. Paying the appropriate amount of tax is core to this; and we are determined to abide by both the spirit and letter of the UK’s tax regulations.
“Almost nine million SSE customers now have an independent guarantee that their energy comes from a company that seeks to pay the right amount of corporation tax, at the right time, in the right place and explains how it does that."