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Co-operative Energy: “Time To Take A Stand On Tax Avoidance”

Posted on 22 April 2014

ftmLeading energy provider, Co-operative Energy, is today calling on the energy industry to follow its lead and become Fair Tax Mark accredited, proving that the industry is making a genuine effort to be open and honest about its tax affairs. Accredited in February this year, Midcounties Co-operative became one of the first businesses to do so. As part of the Midcounties Co-operative Group, Co-operative Energy therefore became the first energy supplier to receive the Fair Tax Mark; the world’s first independent accreditation scheme to address the issue of responsible tax. Ramsay Dunning, group general manager at Co-operative Energy explained: “We have already demonstrated our commitment and dedication to reforming the industry to our customers, and the fact that we are a socially responsible energy company paying our fair share of tax and investing in the UK economy – we’re now calling on our competitors to do the same! “The energy industry has not escaped the thorny issue of tax dodging so we believe that it’s time to take a stand on corporate tax avoidance. By becoming Fair Tax Mark accredited, we are showing that we are open and transparent and are paying the right amount of corporation tax at the right time and in the right place.” Richard Murphy, a tax justice campaigner and one of the founders of the Fair Tax Mark added: “Around the world and here in the UK people are now aware that many big businesses routinely fail to pay the taxes they really owe. What they now want to do is spend their money with those companies who are doing the right thing by seeking to pay the fair tax that they owe in the right place at the right time. “The Fair Tax Mark is designed to allow customers to identify those businesses who are paying their fair share of tax. This makes the Mark the next step in the campaign for tax justice.” Ramsay concluded: “We are extremely proud of our achievement and feel that if others are willing to follow our lead, together we can help clean up this often much maligned industry, giving our customers the assurances they deserve about our tax affairs and making it a fairer place for all of us. “It’s a simple pledge for us all to make and I look forward to the industry’s response.”

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