Tax transparency in integrated reporting

Abstract

Looking at the concept of tax transparency, taxation through the prism of sustainable deve­lopment management changes approaches to disclosure of information about taxes in repor­ting. The company’s behavior in the field of the taxation has become one of the factors of the value of the company in the short, medium and long term. The issue of researching approaches to presenting information on tax strategy, tax transparency in integrated reporting is gaining relevance. The aim of the article is to deepen the theoretical, methodological and practical foun­dations of integrated reporting, taking into account the concept of tax transparency. Philo-sophicaland scientific methods, methods of induc­tion, deduction, synthesis, analysis, comparison, generalization and method of scientific abstrac­tion were used in the paper. The article analyzes the main international and national standards, requirements, recommendations regarding repor­ting on tax transparency issues, examines the practice of presenting information on tax stra­tegy, tax policy of the enterprise, tax risks in cor­porate reporting by companies operating in Ukraine. The main directions of the development of the conceptual foundations of integrated repor­ting are determined, taking into account the concept of tax transparency. Practical recom­mendations on the disclosure of information about taxes in the integrated report have been prepared. Honest payment of taxes is a sign of socially responsible business, a reputational factor. Presentation of information about the company’s taxes and its tax strategy with the help of integrated reporting will contribute to a better understanding of the organization’s acti­vities by interested parties, will allow to achieve competitive advantages in the market, will help reveal information about the economic, environ­mental and social impact of taxation.