Topic Standard Project for Tax
A new global standard for public reporting on tax
According to the United Nations, taxes play a vital role in achieving the Sustainable Development Goals and are a key mechanism by which organizations contribute to the economies of the countries in which they operate. Organizations also benefit from clear and comprehensive tax reporting because it reinforces their community contribution as part of their sustainability impact, strategy and performance.
Our new reporting standard on tax - the first global reporting standard for tax transparency - enables organizations to better understand and communicate information about their tax practices publicly. Global investors, civil society groups, labor organizations and other stakeholders have all signaled their backing for the Tax Standard, as it will help address their growing demands for tax transparency.
It is part of the GRI Standards and is the first global reporting standard that supports public disclosure of a company’s business activities and tax payments on a country-by-country basis.
GRI 207: 2019 is available immediately for download (see related documents below) and comes into effect 1 January 2021.
About the project
In 2017, the Global Sustainability Standards Board (GSSB), GRI's independent standard-setting body, initiated a project to develop new disclosures related to tax and payments to governments. This project aimed to help promote greater transparency on an organization’s approach to taxes.
A multi-stakeholder technical committee appointed by the GSSB began its work on the project in January 2018 and developed a draft Standard on tax. The draft Standard was made available for a 90-day public comment period between 13 December 2018 to 15 March 2019.
The GSSB received over 80 responses on the draft Standard representing approximately 110 organizations and individuals. All received comments were considered by the Tax Technical Committee and the GSSB.
In September 2019, the GSSB approved the revised draft Standard to be launched as GRI 207: Tax 2019. The project followed the GSSB Due Process Protocol, the implementation of which was overseen by the Due Process Oversight Committee.
Basis for conclusions
A 90-day public comment period for the exposure draft of the Standard ran from 13 December 2018 to 15 March 2019.
The GRI 207: Tax 2019 Basis for conclusions provides a summary of the public comments received. It also provides a summary of how the GSSB responded to these comments in the finalization of the Standard.
Want to know more
Read the Tax Standard fact sheet
Watch the Webinar for policy makers on the GRI Standard for Tax Transparency (from 30 April 2020)
Watch a short video on the GRI Tax Standard