ICC Document & publication

ICC’s perspectives on international businesses paying their ‘Fair Share’ of tax (2015)

The International Chamber of Commerce (ICC) shared its perspectives on tax transparency and business paying their fair share of tax – calling on tax authorities to cooperate with business to avoid hampering cross border transactions and increasing double taxation.

In the context of eroding public trust in the tax system, ICC shares perspectives on international businesses paying their ‘Fair Share’ of tax. As the world business organization speaking on behalf of enterprises of all sizes and sectors in every part of the world, ICC identifies transparent, efficient and stable tax regimes as a prerequisite for cross border trade, investment and economic growth.

ICC underlines that profits from business activities should be taxed only once and highlights the importance of distinguishing illegal activities of tax evasion and tax avoidance from lawful methods of tax planning and tax management.

As countries design their own tax regimes and in doing so pursue different policy objectives, ICC underlines that taxes can only be levied on the basis of laws and that legislators should collectively define what a “fair share” of tax is.

ICC is concerned that uncoordinated actions by individual countries will lead to increased double taxation, unfair competition and uncertainty over the tax consequences of cross border transactions. ICC therefore encourages coordinated actions by countries and constructive cooperation between companies and tax authorities – focusing on tax related risks, compliance with the law and certainty on a real time basis.