Severn Trent awarded Fair Tax Mark for the second year running
Wednesday 11 November 2020
Severn Trent has secured Fair Tax Mark accreditation for the second year running, further demonstrating its commitment to doing the right thing.
The Fair Tax Mark is independent recognition of a company’s commitment to paying the right amount of tax at the right time and applying the ‘gold standard’ of tax transparency.
Last year, Severn Trent became only the third FTSE 100 company to be awarded the Fair Tax Mark. Retaining it this year reinforces the company’s reputation as a company that manages its tax affairs in a responsible manner, recognising the interests of all its stakeholders.
James Bowling, Chief Financial Officer at Severn Trent, said: “We're incredibly proud to have retained the Fair Tax Mark. We have committed to managing our tax affairs responsibly, and supporting measures aimed at enhancing tax transparency.
“The Fair Tax Mark accreditation continues to recognise this and demonstrates to our customers that we are a responsible business, open and transparent in our tax affairs and paying our fair share of tax.”
Paul Monaghan, Chief Executive, Fair Tax Mark said: “We are delighted to announce that Severn Trent has been re-accredited as a Fair Tax Mark business. They rightly take pride in their responsible tax conduct and leading-edge tax transparency.
“They have a tax strategy that explicitly commits to paying the right amount of tax at the right time and their financial statements provide an excellent numerical breakdown of any deviations from the expected headline rate of tax, and why. Severn Trent rightly take real pride in the contribution their tax makes to society, and long may it continue.”