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Tax: A crucial component of ESG reporting

Taxation, a critical component of business operations and a significant source of government revenue

 

In today's interconnected world, critical issues such as the global economy, peace and stability, and sustainable business practices are under intense scrutiny. This global discourse has compelled businesses to adopt a more sustainable and responsible approach to doing business by recognizing their broader societal impact. Investors, regulators, and other stakeholders now consider a broader spectrum of factors, known as environmental, social, and governance (ESG), when evaluating business performance.

Despite the growing ESG awareness, the taxation aspect of ESG appears to be lagging. Taxation, a critical component of business operations and a significant source of government revenue has yet to be fully integrated into ESG frameworks. To this end, we invite you to download our article, "Tax: A crucial component of ESG reporting", which explores the relationship between ESG and tax, and why tax practices and disclosures should be integrated into ESG reporting frameworks in Nigeria.

Specially, we examined the following:

  • Nexus between tax and ESG
  • The need for a tax reporting framework in Nigeria
  • Consideration for adoption of tax-integrated ESG reporting by Nigeria entities
  • Challenges with adopting tax-integrated ESG reporting
  • Recommendations for developing tax disclosure framework for ESG reporting in Nigeria

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