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Introduction to tax transparency

As transparency reporting becomes increasingly complex, it has grown beyond a simple check-the-box exercise into a strategic tool for evaluating corporate impact. Transparency reporting functions as a methodology for companies to measure, communicate, and enhance their environmental, social, and governance (ESG) impact, aligning corporate actions with stakeholder expectations and societal well-being.

Transparency through CSRD and ESRS

The Corporate Sustainability Reporting Directive (CSRD) is an EU-directive mandating companies to report on information on their environmental, social, and governance (ESG) impact, including tax-related contributions to the community as a whole. The CSRD strengthens and expands sustainability disclosure requirements ensuring companies address all ESG aspects, including tax impact and governance transparency. Request our CSRD whitepaper for more information.

To align with ESRS requirements, typically companies use GRI Sector Standards to complement the disclosures prepared based on topical ESRS. The Global Reporting Initiative (GRI) provides globally recognized guidelines for companies seeking voluntary and flexible reporting guidance. These standards include universal, topic-specific, and sector-specific standards, covering a comprehensive array of both ESG and tax topics.

Transparency reporting for tax purposes

Companies within the scope of the CSRD typically align their report in accordance with the European Sustainability Reporting Standards (ESRS). A key component among these standards is ESRS S3, which focuses on a company’s impact on affected communities and the approach to managing it. Tax plays an important role in this context due to its material impact on communities. Through tax, companies directly influence the social and economic conditions of the community the company is part of. By including this into their transparency report, companies showcase their role in sustaining the communities where they operate, helping to build trust and promote economic stability.

Another key component of these standards is ESRS G1, which focuses on governance, transparency, risk management and internal controls. Tax reporting is integral to this standard, as it relates directly to corporate governance, ethics, and risk management practices. By detailing tax-related governance practices, companies demonstrate accountability, thereby strengthening stakeholder trust.

Timeline

1 January 2024

Large companies that meet 2 out of the 3 criteria

(NFRD target group)

>500 employees
40 million EUR in net turnover
20 million EUR in total assets

1 January 2025

Large companies that meet atleast 2 out of the 3 criteria

>250 employees
40 million EUR in net turnover
20 million EUR in total assets

1 january 2026

SMEs that meet atleast 2 of the 3 criteria

>10 employees
700 thousand EUR in net turnover
350 thousand EUR in total assets

Quick Scan

Our Tax Transparency Quick Scan provides a top-level assessment of your tax obligations and control frameworks.

Health-check
Data review
Policy review

Deliverables

Control framework status
Tax data assessment report
Policy summary

By analyzing corporate income tax, wage tax, and VAT processes, we identify initial areas of strength and risk. This quick scan equips your team with valuable insights into your organization’s readiness for transparency requirements in areas such as CSRD, Pillar 2 and country-by-country reporting.

Tax Transparency assistance

Our Tax Transparency assistance provide hands-on support to ensure compliance with tax transparency requirements.

Tax reporting guidance
Quality control
Compliance verification

Deliverables

Data collection guidance
Data quality control report
Tax compliance checklist

We guide your team through the complex process of gathering, verifying, and reporting tax data, with pragmatic checks on accuracy and alignment with documentation obligations. By ensuring completeness and compliance, we help your organization meet its tax transparency goals while reducing potential risk.

Ongoing Tax Transparency support

Our ongoing Tax Transparency support offers proactive, full-service assistance to maintain alignment with tax reporting obligations.

Ongoing reporting support
Strategic advisory
Training and communication

Deliverables

Ongoing compliance reports
Strategic advisory report
Training sessions and resources
Regulatory communication support

We provide ongoing strategic advice, regular compliance assessments, and custom training to embed transparency into your business practices. From guiding high-level control framework adjustments to supporting in all interactions with authorities, our team is committed to helping you build a reputation of transparency and compliance within the market.

Frequently asked questions and answers on Tax Transparency

01 What are the differences between mandatory reporting and voluntary reporting?

Mandatory reporting under the CSRD requires companies to follow European Sustainability Reporting Standards (ESRS), including ESRS S3 (affected communities) and ESRS G1 (governance and tax transparency). These standards enforce tax disclosure to show companies' roles in community sustainability and accountability in governance. It should be underlined that taxation could play a material role in respect of such standards.

Voluntary reporting, allows for companies to apply frameworks such as GRI-207 (tax disclosure), EU Taxonomy, OECD guidelines, and the national VNO-NCW tax governance code. This allows companies to supplement mandatory standards with additional, globally recognized frameworks. This flexibility allows companies to improve transparency and align with global best practices in tax governance and community impact. The biggest difference between these frameworks lies within reporting financial metrics or the exclusion thereof.

02 What is the CSRD?

The Corporate Sustainability Reporting Directive (CSRD) is an EU-directive that requires companies to report on their social and environmental impact. Building on the Non-Financial Reporting Directive (NFRD), the CSRD expands disclosure requirements for large companies (> 500 employees, € 40 million in net turnover and € 20 million in total assets) to include details on social, environmental and governance impact.

03 Is ESG the same as CSRD?

ESG provides a framework for companies to improve their sustainability efforts, while the CSRD has specific requirements on how these efforts should be reported and prioritizes transparency and accountability.

04 What if you do not meet the CSRD?

Not meeting the CSRD could lead to penalties. These penalties vary per EU-country. For example, in the Netherlands this ranges between € 10,000 to 900,000 or higher. Non-compliance with the Corporate Sustainability Reporting Directive (CSRD) can lead to more than just financial penalties; it can result in reputational damage, operational disruptions, and a competitive disadvantage. Failing to meet CSRD standards may destroy trust among stakeholders, disrupt business operations due to penalty-related resource allocation, and place companies at a disadvantage compared to more transparent, sustainability-focused competitors.

05 What guidelines can companies reference to enhance their sustainability disclosures?

In addition to the CSRD and ESRS guidelines, companies are allowed to enhance their sustainability disclosures by referencing the aforementioned (voluntary) Global Reporting Initiative (GRI) standards, as well as the EU Taxonomy, which links directly to the OECD Transfer Pricing (TP) Guidelines. These guidelines include specific tax-related sections that serve as a reference for transparent tax reporting, offering structured guidance to meet global societal expectations. Please note, that also the national VNO-NCW tax governance code provides guidance when no disclosure of financial information is desirable.

Tax Transparency

Introduction to tax transparency

Transparency through CSRD and ESRS

Transparency reporting for tax purposes

Timeline

Large companies that meet 2 out of the 3 criteria

Large companies that meet atleast 2 out of the 3 criteria

SMEs that meet atleast 2 of the 3 criteria

Quick Scan

Deliverables

Tax Transparency assistance

Deliverables

Ongoing Tax Transparency support

Deliverables

Frequently asked questions and answers on Tax Transparency

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Tax Transparency

Introduction to tax transparency

Transparency through CSRD and ESRS

Transparency reporting for tax purposes

Timeline

Large companies that meet 2 out of the 3 criteria

Large companies that meet atleast 2 out of the 3 criteria

SMEs that meet atleast 2 of the 3 criteria

Quick Scan

Deliverables

Tax Transparency assistance

Deliverables

Ongoing Tax Transparency support

Deliverables

Our specialists

Frequently asked questions and answers on Tax Transparency

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