Triodos Bank accredited with Fair Tax Mark

Triodos Bank has been awarded the Fair Tax Mark label by the Fair Tax Foundation, making it the first international bank to secure certification of responsible tax conduct. 

Netherlands-headquartered Triodos runs operations in UK, Spain, Belgium and Germany, and offers banking and investment management services.

The Fair Tax Mark certifies that a business: 

• seeks to follow the spirit, as well as the letter of the law 
• shuns corporate tax avoidance such as the artificial use of tax havens 
• is transparent about profits made and taxes paid

Triodos met the criteria as it has specified minimum standards relating to accounting and remuneration, corruption, taxes and violation of legislation, with regard to taxes being paid in all countries where earnings are realised. Companies that are involved in tax avoidance schemes that raise significant ethical or moral concerns and are in clear violation of local or international standards are excluded from all direct investment activities and credit agreements. 

Kees van Kalveen, chief financial officer at Triodos Bank, commented: “We are incredibly proud to achieve the Fair Tax Mark certification. It reflects our long-standing commitment to responsible tax conduct and transparency. We believe tax should be paid where real economic value is created, and that businesses must contribute fairly to the societies they operate in.” 

See also: Triodos launches child wellbeing and development fund