Unite has today been awarded the Fair Tax Mark by the Fair Tax Foundation. The company with its Mercateo Procurement Portal becomes the first platform business to secure accreditation to the global gold standard of responsible tax conduct.
Exemplary responsible tax conduct
Assessed against the Fair Tax Foundation’s Global Multinational Business Standard 2021, the Assessment Scorecard commends Unite‘s substantive commitment to responsible tax conduct, financial transparency and beneficial ownership disclosure. The report highlights Areas of Excellence which states that Unite has gone ‘above and beyond’ by defining an exemplar and binding tax policy that explicitly shuns tax avoidance and the artificial use of tax havens, and which demonstrates it operates ‘within both the letter and spirit of all tax laws that apply across the group.'
The annually re-audited Fair Tax Mark underlines Unite’s commitment to transparent and responsible tax conduct and confirms the company’s ethical corporate income tax behaviour. Corporate income tax is crucial for curbing social and economic inequalities. In addition, by paying taxes responsibly, businesses help the communities in which they operate to deliver valuable public services and build infrastructure that allows businesses to thrive.
Creating social value
Paul Monaghan, Chief Executive, Fair Tax Foundation said: “Unite is an exemplar of both responsible tax conduct and financial transparency. They provide a breakdown of everything from taxes paid in each country in which they operate to details of corporate ownership and control. In a sector that is all too often linked with tax avoidance and secrecy, they stand out as a platform business that is ready to go the extra mile to enable sustainable, fair and transparent business performance.”
Unite is a named supplier on the UK’s Crown Commercial Service Tailspend Solution Framework (RM6202). It is the only business and e-procurement platform that is both Fair Tax accredited as well as an approved framework supplier.
Simon Roberts, Unite’s Managing Director for UK and Ireland said: “The Fair Tax accreditation gives us a fantastic opportunity to instigate change within the procurement industry. We can offer both the public and private sectors a compliant route to manage their purchasing and indirect spend through Unite’s proposition and one that can help them meet their social value and sustainability goals. We hope that as a result of this accreditation, other businesses, including suppliers, will be encouraged to review their policies. Paying tax fairly is about giving back to communities, driving economic resilience and enabling societal development. We’re committed to championing the Fair Tax initiative within the industry, the UK and across our operating territories.”
Reiterating Unite’s commitment to fairness, equality and social justice, Executive Board member Peter Ledermann said: “Fair and sustainable business conduct is at the core of Unite’s values. We always pay our corporate tax with pride. We’re delighted to be the first platform business accredited with the Fair Tax Mark according to the Global Multinational Business Standard. The buyers and suppliers using our platform and our partners can be confident that ethical governance and relationships come first for us.”
Ethical corporate tax conduct is just one example of Unite’s responsible and sustainable business approach in its mission to create a shared-value ecosystem, network and communities. Unite also has mechanisms to check professional misconduct, such as the Whistleblowing System and the Code of Conduct for Business Partners. And further accreditations such as the EcoVadis rating for assessing and improving sustainability in the value chain.
About the Fair Tax Foundation
The Fair Tax Foundation was launched in 2014 and operates as a not-for-profit social enterprise. The Fair Tax Foundation believes that companies paying tax responsibly should be recognised and celebrated; and any global race to the bottom on tax competition should be resisted. The Fair Tax Mark accreditation scheme is the gold standard of responsible tax conduct. It seeks to encourage and recognise organisations that pay the right amount of corporation tax at the right time and in the right place. Tax contributions are a vital part of the broader social and economic contribution made by businesses, helping the communities in which they operate to deliver valuable public services and build infrastructure that paves the way for growth. Accredited businesses include listed PLCs, co-operatives, social enterprises and large private businesses. A Fair Tax Global Multinational Business Standard was launched in November 2021, enabling multinationals headquartered outside of the UK to be accredited for the first time. https://fairtaxmark.net