30/06/2023

Are green taxes going to be a red flag for your clients’ businesses?

Business advisory Tax

While many corporations have departments dedicated to paying little or no taxes, it’s not a socially responsible policy. Low tax figures may look great on the balance sheet, but there’s a bigger picture to consider.

At TGS, we believe in ‘tax for good’. That’s why we take a more ethical approach to your tax overview. Not too much, not too little, just a fair and sustainable amount, factoring in the relevant corporation tax rates in 2022.

Conscientious tax consultants

As an experienced international network, we look at every avenue to lower costs through tax respites, such as green tax breaks, foreign tax credit relief and deferred tax opportunities.

However, by preference, we take a more conscientious tax overview route while also recommending the payment of what’s appropriate. This ‘tax for good’ approach contributes to the prosperity of our communities and the environment.

The TGS network is a proud signatory of the United Nations Global Compact. This pledge means we’re committed to sustainability worldwide. We echo the Compact’s Ten Principles, so when preparing your tax overview, we keep its four overarching pillars firmly in mind:

  • Human Rights
  • Labour
  • Environment
  • Anti-Corruption.

Why? Because we want your business to grow and thrive — responsibly.

Avoiding threats to a company’s social licence in different jurisdictions

Minimising any reputational damage or consumer boycotts Reducing discontent from investors, business partners and/ or employees.

Our global network opens up trusted partner relationships via 4,500 professionals in 58 countries. Every member firm has been through our quality programme, so you can work together with complete confidence for a detailed overview of your taxes.

Easing your recruitment and retention headaches Taking care of employees is paramount to the success ofany business. When it comes to recruitment and retention, the associated financial and well-being costs can spiral out of control when there’s a revolving door.

A flexible approach opens your pool to overseas talent acquisition, supporting home working and rewarding those who move internationally while also providing tax benefits for you as an employer.

For example, we advise our clients with offices outside of the UK or with foreign (non-UK citizen) employees in the UK so they understand indirect tax considerations and the broad benefits of intercountry tax agreements, including:

    • The US-UK tax treaty
    • Foreign tax credit relief
    • Double-taxation relief

Tax relief on low-emission cars

Working from home tax deductions for employees Capital allowances on energy-efficient or low or zero- carbon technology purchases.

Business growth through subsidised environmental investment opportunities is a win-win-win for your business, your local community and the wider world.

Some countries have implemented specific sustainability taxes to encourage a rethink in consumer and business behaviour. However, widespread adoption of these as a deterrent to damaging practices still has a long way to go globally.

Local knowledge you can trust

Helping you do the right thing for your employees, local people and places, and the environment is a full-circle strategy.

Regardless of the countries you do business in, adopting a diligent and ethical approach to customers, suppliers, and staff can aid in preventing corruption and exploitation.

In addition, local links via the TGS network will help you navigate any potential pitfalls.

Doing the right thing by default

Respecting human rights worldwide isn’t only about making better business decisions for ethical reasons. Every comprehensive tax overview includes a risk analysis with the aim of:

Ignorance of the law is no excuse. Our experts on the ground provide a safe and reliable pair of hands from day one. Because your reputation matters.

Our commitment to Corporate Social Responsibility matches our passion for environmental initiatives.

A reliable business network for now and the future

As a global organisation with on-the-ground advisors, our unique setup offers the best of both worlds: local knowledge combined with international experience. And with this expertise comes our one-stop-shop offering:

business advice, auditing, accountancy, tax and commercial legal services.

At every stage of your tax overview, our tax consultants provide a holistic view, not solely on-the-spot advice.

What does this mean? When our native (in-country) advisor reviews your tax overview, they’re not only looking at the deferred tax opportunities (for instance), they’re exploring the implications of those — today, tomorrow, and for years to come, at home and abroad.

Take the first step to joining the ‘tax for good’ movement We understand that taxation is a sensitive business area that removes cash from your bottom line. Our tax consultants believe in constant improvement to stay up-to- date and informed for businesses operating locally and in the global marketplace.

TGS members prepare every tax overview and strategic proposal based on the latest local and international legislation.

At TGS, we believe in ‘tax for good’. That’s why we take a more ethical approach to your tax overview. Not too much, not too little, just a fair and sustainable amount, factoring in the relevant corporation tax rates in

Read the TGS Experience Magazine here:

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