Pennon Group has successfully received the Fair Tax Mark for the ninth year in a row, making it the only water-based business in the country that has held the accreditation for this long.
The accreditation recognises businesses that pay their fair share of Corporation Tax and report on their tax practices transparently. Achieving the Mark demonstrates that Pennon Group are paying the right amount of Corporation Tax in the right place at the right time and applying the gold standard of transparency.
Ryan Bebbington, Group Head of Tax for Pennon said: “Achieving the Fair Tax Mark for a ninth consecutive year is a significant milestone for Pennon and one that we are extremely proud of. Tax transparency and responsible tax conduct are fundamental to the way we do business, and this accreditation reflects the importance we place on openness, accountability and strong governance.
“We are committed to explaining our tax affairs clearly, providing stakeholders with confidence that we approach tax in a fair, ethical and transparent manner. The taxes we pay help support the public services and infrastructure that communities rely upon, and we recognise our responsibility to contribute appropriately. We welcome the continued recognition from the Fair Tax Foundation and remain committed to maintaining the high standards that the Fair Tax Mark represents.”
Jaime Boswell, Head of Accreditation at the Fair Tax Foundation, added: “Here at the Fair Tax Foundation we talk a lot about narrative. It’s so important in tax to explain clearly the reasons behind the numbers, so that all stakeholders can understand. Pennon are great at doing just that – upholding a high standard of tax transparency. We’re delighted to award them the Fair Tax Mark for another year and applaud their commitment to being responsible taxpayers.”
For more information visit www.fairtaxmark.net
About the Fair Tax Mark
The Fair Tax Foundation was launched in 2014 and operates as a not-for-profit social enterprise. The Fair Tax Foundation believes that companies paying tax responsibly should be recognised and celebrated. Tax contributions are a vital part of the broader social and economic contribution made by businesses, helping the communities in which they operate to deliver valuable public services and build infrastructure that paves the way for growth.