BY DARA BUTTERFIELD
Perth-based utility giant SSE has been awarded the Fair Tax Mark for a second successive year, yet remains the only FTSE 100 company to be accredited.
SSE remains the largest UK company to be awarded Fair Tax Mark which recognises responsible attitude to corporation tax. The SSE Chief Executive said that he was “surprised and disappointed” that they are still the only FTSE 100 company to gain the accreditation despite tax transparency being a major issue of public concern.
Alistair Phillips-Davies, Chief Executive, SSE, said: “We’re delighted to have received accreditation again from the Fair Tax Mark because it palpably demonstrates that we’re paying our fair share here in the UK.
“We know there’s deep anger from the public towards companies that don’t take a responsible approach to paying taxes. Frankly, one year on I’m surprised and disappointed more FTSE 100 companies have not looked to join us in gaining this mark and going further on tax transparency.
“Tax should not be seen as a penalty on profit. Paying the right amount of tax, in the right country, at the right time and in the right way is how businesses contribute back to the society that enables them to be successful in the first place.”
In 2014/15 SSE paid over £506m in taxes in the UK and Ireland. SSE provides information that moves its disclosure well beyond the current requirements of UK company law allowing anyone to properly appraise its tax affairs. Tax avoidance costs Britain tens of billions in lost revenue every year.