Leading renewable energy developer and worker co-op, Dulas, has become the first Welsh business to achieve the Fair Tax Mark.
The Fair Tax Mark certifies that Dulas has met the highest standards in tax transparency and is fully compliant in all its tax dealings.
Director Alistair Marsden said: “The Fair Tax Mark represents an opportunity for Dulas – and the renewables industry more widely – to take a lead when it comes to transparency and accountability.
“Paying the correct tax is a basic principle of good business ethics, and we hope that our commercial partners both up and down the supply chain will take further confidence in Dulas’ credentials as we add to our growing list of accreditations and awards.”
In recent years, public confidence in business has suffered due to a perceived lack of integrity by large multinationals – with a 2015 survey by HM Revenue & Customs finding 63% of respondents felt the use of tax avoidance schemes was widespread.
Founded in 1982, Dulas says it has long put an ethical approach at the heart of its business. As part of its assessment for the Fair Tax Mark, the business provided four years’ worth of information on its financial health, use of research and development tax credits, and additional tax details. It has also developed a comprehensive tax policy, which is freely available to the general public online.
“The Fair Tax Mark is part of a growing trend for greater tax transparency – demonstrating that a business is open and accountable in its tax dealings,” said Paul Monaghan, chief executive at Fair Tax Mark.
“Dulas has a strong track record when it comes to ethical business practices, and we’re delighted that it has now become the first Welsh business to be awarded the Fair Tax Mark.”
As a further commitment to improving the lives of people around the world through transformative clean energy solutions, Dulas recently signed up to the IRENA Coalition for Action.
This aims to promote the wider and faster uptake of renewable energy technologies by improving public understanding of the advantages and benefits. As part of the coalition, Dulas will work alongside 55 other members to influence and communicate the need for renewable energy around the world.