According to Ingrid Thijssen, President of VNO-NCW, the tax code will contribute to transparency about tax behavior and the taxes paid by companies. The signatories are listed as well as unlisted companies and family businesses. Only twenty of the 25 companies in the AEX index in Amsterdam were behind these agreements. “This move is really unique internationally. We don’t know of any other country doing this. We are leading the way in this and this group of companies are showing leadership and taking an additional wonderful step that I am very proud of,” says Thijsen.
The new law was drawn up in consultation with the companies. Expertise from trade unions, NGOs, tax experts and scholars has also been used. According to Thijssen, none of the participating companies fully fulfill all the requirements yet. “We have deliberately set the standards high. In this way, participating companies are challenging themselves to keep improving,” she says. According to her, transparency and interpretation regarding tax payments contribute to the tax debate. The agreements will also ensure greater confidence in the tax system.
Part of the code is clarity about tax strategy and principles. Corporations also publish all taxes paid for each country. The use of tax benefits has also been disclosed. Companies that don’t enforce the rules are obligated to explain why they don’t. More companies are expected to align with the rules.
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