Responsible Tax Rebecca Cagigao Responsible Tax Rebecca Cagigao

Global responsible tax – Will wealth taxes work?

KPMG International hosted this roundtable discussion, which focused on the UK but with global implications, to explore the potential role of wealth taxes in addressing the widening wealth gap and fostering a fairer society; their effectiveness and feasibility and any potential unintended consequences and potential behavioral responses from individuals; diverse international approaches to wealth taxation; challenges around implementation and enforcement; as well as alternative policy options to address these issues.

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Responsible Tax Rebecca Cagigao Responsible Tax Rebecca Cagigao

Part 2 | Putting Tax to Work: Tax Policy and the Changing Nature of Work

Jericho and KPMG International hosted this conversation as part of the Global Responsible Programme to explore how tax policies can adapt to meet the changing needs of the labour market and emerging industries. This discussion, one of two initial scoping roundtables, the other on the Global North, sought to illuminate some of the critical issues and questions at play on work and tax before a series of deeper dives in early 2024.

This conversation, focusing on the Global South, looked to discuss the unique set of intersecting challenges including the prevalence of informal work arrangements, a burgeoning youthful population and a potential crisis of unemployment, technological disruptions, skills shortages, and gender disparity in labour participation rates.

Can the design and practice of tax approaches play a pivotal role in effectively addressing these growing issues while simultaneously fostering economic growth, promoting sustainability, utilising the potential of a young workforce, and addressing skills shortages - without discouraging entrepreneurship and innovation?

The conversation was held under the Chatham House Rule (which means nothing can be attributed to attendees) and was attended by seven expert participants.

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Responsible Tax Rebecca Cagigao Responsible Tax Rebecca Cagigao

Part 1 | Putting Tax to Work: Tax Policy and the Changing Nature of Work

Jericho and KPMG International hosted this conversation as part of the Global Responsible Programme to explore how tax policies can adapt to meet the changing needs of labour markets, business, economic and social needs. This discussion, one of two initial scoping roundtables, the other covering the Global South (add link when available), sought to illuminate some of the critical issues and questions at play regarding work and tax before a series of deeper dives in specific areas in 2024.

This conversation, focusing on the Global North, looked to discuss the set of intersecting challenges including an ageing population and retirement security, hybrid, remote and cross-border working, the complexities of the ever-expanding gig economy and AI disruption.

Can the design and practice of tax approaches play a significant role in adapting to the changing demographic landscape and ensuring a stable fiscal foundation? What part has tax to play in facilitating lifelong skills training? Can tax frameworks be engineered to incentivise responsible AI deployment while protecting workers from potential job displacement or income loss?

The conversation was held under the Chatham House Rule (which means nothing can be attributed to attendees) and was attended by thirteen expert participants.

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Responsible Tax Rebecca Cagigao Responsible Tax Rebecca Cagigao

Part 2 | Tax and Carbon: Carrot or stick? Virtual roundtable

As the race to respond to the climate emergency and fund the green transition intensifies, the US' Inflation Reduction Act (IRA) and the EU's Green Deal (including its Carbon Border Adjustment Mechanism (CBAM)) have emerged as significant pieces of legislation, generating global debate about how best to reach net zero targets. As multinational companies navigate these twin policy landscapes, new challenges, tensions and opportunities are emerging.

Jericho and KPMG International hosted this conversation as part of the Global Responsible Programme to explore how multinational companies are responding to these policies, which approach is likely to be more effective (incentives or carbon pricing – or perhaps a combination of both), how low-income or vulnerable economies might be affected and how China, which currently dominates several environmental technology supply chains, may respond to exclusive subsidies and rising carbon costs.

The conversation, which focussed on perspectives from the UK, EU and Asia Pacific region, was held under the Chatham House Rule and was attended by nine expert participants.

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Responsible Tax Rebecca Cagigao Responsible Tax Rebecca Cagigao

Part 1 | Tax and Carbon: Carrot or Stick? Virtual Roundtable

As the race to respond to the climate emergency and fund the green transition intensifies, the US' Inflation Reduction Act (IRA) and the EU's Green Deal (including its Carbon Border Adjustment Mechanism (CBAM)) have emerged as significant pieces of legislation, generating global debate about how best to reach net zero targets. As multinational companies navigate these twin policy landscapes, new challenges, tensions and opportunities are emerging.

Jericho and KPMG International hosted this conversation as part of the Global Responsible Programme to explore how multinational companies are responding to these policies, which approach is likely to be more effective - incentives or carbon pricing - or perhaps a combination of both, and how low-income or vulnerable economies might be affected.

The conversation, which focused on perspectives from the UK, EU and US, was held under the Chatham House Rule and was attended by nine expert participants.

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Responsible Tax Rebecca Cagigao Responsible Tax Rebecca Cagigao

Global Responsible Tax Thought Leaders Group: Global Institutions for Better Tax Policy

Jericho and KPMG International hosted this conversation (as part of the Global Responsible Tax Thought Leaders Group) to take a deeper dive into what global institutions are needed for better tax policy and how to address the challenges, changes and opportunities in a world in flux.

The conversation was held under The Chatham House Rule and was attended by 16 expert participants.

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Beyond Goldilocks: Building tax trust through the transparency and data journey

In a series of high-level discussions with policymakers, corporate leaders on tax and ESG and civil society campaigners convened by Jericho and The B Team, with the support of KPMG International, we set out to find a sweet spot between rudimentary forms of tax disclosure and full transparency. What we discovered is that it’s how to build trust that matters.

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Responsible Tax Rebecca Cagigao Responsible Tax Rebecca Cagigao

A virtuous circle? Tax and the Circular Economy - The African Perspective

KPMG hosted this roundtable discussion as part of the Global Responsible Tax Programme to explore, from an African perspective, whether the design and practice of tax approaches could help to unlock the circular economy and reconcile the tension between economic growth, sustainability and the issue of uncertain global supply chains resulting from geopolitical challenges. If so, which levers are best placed to make realistic change?

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Responsible Tax Rebecca Cagigao Responsible Tax Rebecca Cagigao

A virtuous circle? Tax and the Circular Economy - The European Perspective

KPMG hosted this roundtable discussion as part of the Global Responsible Tax Programme to explore, from a European perspective, whether the design and practice of tax approaches could help to unlock the circular economy and reconcile the tension between economic growth, sustainability and the issue of uncertain global supply chains. If so, which levers are best placed to make realistic change?

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Responsible Tax Becky Holloway Responsible Tax Becky Holloway

Tax and ESG - the view of ESG experts

The roundtable explored the apparent paradox that while some stakeholders want to see more data before trusting what a company says about its tax position, complex tax data can create misunderstanding, debates about what it means and questions about its accuracy — driving a greater mistrust. It was thought that data alone would not overcome the trust deficit and tax disclosures, and ESG disclosure in general should not be about a tick box disclosure mentality, but about engaging with stakeholders to explain a company’s role in and contribution to society.

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