Atlantia awarded Fair Tax Mark for tax transparency by Fair Tax Foundation
Rome, 20 September 2022 – Atlantia is the first Italian company to be awarded a Fair Tax Mark for tax transparency by the Fair Tax Foundation, having achieved the highest possible ranking, considered the gold standard of responsible tax conduct. The Company has now completed its accreditation by the UK-based, not-for-profit social enterprise, which specialises in assessing the tax conduct of businesses in the various jurisdictions in which they operate. This is done with the aim of encouraging and recognising enterprises that take a fair and transparent approach to taxation. This achievement is in keeping with the process of introducing a transparent approach to taxation launched by Atlantia in 2013, with the Company’s participation in a pilot run by the Italian tax authority. This aimed to introduce a cooperative compliance scheme applicable to major companies, in which the Company still plays an active role. Receipt of accreditation follows publication of the Tax Transparency Report last August, in which Atlantia provides full details of its tax governance arrangements. “The Fair Tax Mark reflects the results achieved through Atlantia’s approach to tax transparency, in addition to being reward for the commitment shown in recent years to engaging positively with the authorities in the countries in which we operate, starting with Italy,” said Tiziano Ceccarani, Atlantia’s CFO. “This forms part of our wider ESG strategy, which puts community engagement and transparency at the heart of what we do,” concluded Ceccarani. According to Paul Monaghan, Chief Executive of the Fair Tax Foundation, “in the global context, the Atlantia Group is an example of responsible tax conduct and financial transparency. The Company provides clear country-by-country disclosures of the revenue and taxable income generated and the resulting taxes paid. The Company also provides commendable clarity regarding the tax residences of the many Group companies located around the world and is committed to complying with local legislation, entering into cooperative compliance schemes with local tax authorities, where available."