Tax transparency is becoming increasingly important in the context of corporate sustainability. Investors, consumers and other stakeholders are paying increasing attention to how companies manage their tax liabilities and reflected in sustainability reports. We previously informed our readers about  PwC’s 2023 study “Tax Transparency and Sustainability Reporting in 2023” in this field. This year, PwC published a new study covering the sustainability review practices of over 850 companies in 21 countries. This article summarises the key findings of PwC’s 2024 global study “Global Tax Transparency and Tax Sustainability Reporting Study”.

When adopting a supplier management model, companies look for the most efficient ways to optimise relationships with their suppliers, make their supply chains more efficient and cut their costs to continue receiving the best goods and services within the most appropriate time frames.

In a previous article, we used a tax gap example to explain why taxation is a key pillar of ESG. Tax transparency and tax governance in the context of ESG are relevant topics in the PwC network – last year PwC published a study ‘Tax transparency and sustainability reporting in 2023’. The study looks at the sustainability reports of 269 listed companies (Australia, Brazil, Germany, Ireland, South Africa, Spain, Switzerland and the UK), i.e. whether their reports address tax aspects and how. The study examined what sustainability frameworks (i.e. documents and guidelines) companies use the most often to disclose tax aspects in their sustainability reports. In this article we have summarised information from the study to explain what tax details should be included in a sustainability report.