Supporting effective tax regimes

We advocate fair, effective and stable tax systems because they reduce uncertainty for both governments and companies. Such tax systems help countries develop sustainable budgets and help companies manage their investments more effectively. We support a transparent and coordinated approach to improving the global tax system where countries work together, build consensus and agree on applicable legislation.

Governments may seek input from different stakeholders through public consultation when they design tax policies. We believe it is important to hold an open dialogue on fiscal matters as new legislation should be effective, practical to administer and should facilitate the collection of taxes. For example, we continue to support the implementation of government-led carbon-pricing systems, including carbon taxes, and recognise them as an essential tool for reducing emissions and tackling climate change.

We believe that smart policies from governments, such as applying a cost to emissions through measures such as carbon-pricing mechanisms, supported by effective steps to reduce emissions, are among the best ways to reach solutions and drive progress. We regularly share knowledge and best practice through participation in industry and professional associations. These include the Extractive Industries Transparency Initiative (EITI), the B Team Responsible Tax Working Group (B Team) and Business at OECD.