ARE you aware of the tax transparency issues regarding ESG and sustainability within life sciences companies? Is your business prepared for the challenge?Recently, there has been a dramatic cultural shift as governments and communities increase their focus on social and health issues, environmental concerns, sustainability, and corporate governance.
While every life sciences business has its own unique requirements, and most are at different stages of their tax reporting and ESG development, there are still several common questions that should be addressed:Are you adequately collecting and analyzing the right data about your ESG activities?Do you have the right partnerships and alliances in place—ones that can help you create progressive approaches that drive your ESG initiatives?Is your board aligned with what you want to achieve, and do...
There are no easy answers to these questions. But getting them right can give you a competitive advantage. Therefore, your ESG strategies should factor in tax transparency and demonstrate how you serve the communities in which you do business. Your tax planning should also align with, and support, the ESG agenda.