Tax information in non-financial corporate reporting

Abstract

Subject. This article deals with the issues of disclosure of sustainable development as a direction of modern corporate non-financial reporting, which provides an assessment of the implementation of the corporation's strategy in terms of economic, environmental and social aspects of activities. Objectives. The article aims to analyze the current practice of non-financial reporting, identify strengths and weaknesses, and identify aspects of sustainable development for the corporation and stakeholders. The article also aims to develop recommendations and methods for independently conducting the procedure for the formation of non-financial reporting by a corporation, as well as reveal the interaction of elements of reporting in the field of sustainable development with the indicators of consolidated financial statements in various tax jurisdictions, and identify promising areas for the development of the theory and practice of non-financial reporting. Methods. For the study, we used the methods of detailing, observation, generalization, comparison, classification, grouping, etc. Results. The article reflects the formation and disclosure of information on taxes paid by corporations in various tax jurisdictions based on GRI standards, which ensures that stakeholders make informed economic decisions. Based on the results of the study, it is proposed to make disclosure in the consolidated financial statements on the basis of information systematized in the proposed format of management reporting Taxation of Corporations in the Reporting Period. Conclusions and Relevance. Non-financial reporting will improve the transparency of corporate activities, improve stakeholder engagement, and broaden the information base for investment decision-making and corporate social responsibility assessment. The results of the research can be used in the practical activities of corporations when disclosing tax strategies and taxes paid by corporations in various tax jurisdictions in non-financial reporting.