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Tax disclosures: Is sunlight the best disinfectant?
Published on 01 Apr 19 by "THE TAX SPECIALIST" JOURNAL ARTICLE
It has been said that: “Publicity is justly commended as a remedy for social and industrial diseases. Sunlight is said to be the best of disinfectants; electric light the most efficient policeman.” The belief that greater transparency and public scrutiny will result in large corporate taxpayers paying their “fair share of tax” has been a key driver of increased tax disclosures in recent years. This article considers the range of additional disclosures that have been introduced either on a voluntary or compulsory basis in recent years. The article also analyses when disclosures should be made, to whom they should be made, and the impact of not disclosing information. In addition, the article considers how fairness should be measured and refers to published information concerning tax gaps and taxes paid. In light of these additional disclosures and using international data about tax, the article asks whether the increased disclosures have resulted in greater “fairness”.
Author profiles
Enzo Coia CTA
Enzo Coia is a Tax Partner at KPMG with more than 25 year's experience advising on Australian tax matters associated with mergers and acquisitions. Enzo has significant expertise in advising clients in energy and resources. Enzo has advised on many significant transactions in power and utilities including renewable energy, mining and the oil and gas sectors. Enzo is a frequent presenter to industry bodies and has published many articles on mergers and acquisitions. - Current at 12 November 2025
Lauren Jones CTA
Lauren is a Partner in the Deloitte Perth Business Tax team. Lauren specialises in providing Australian taxation advice on merger and acquisition transactions, particularly in the energy and resources, utilities and infrastructure sectors. This includes managing large, complex tax due diligence projects, tax issues around financing structures, profit repatriation, permanent establishments, equipment leasing and global restructures, as well as managing post-transaction tax integration issues - Current at 26 June 2019Anna Williams
Anna is a Senior Analyst with Deloitte. - Current at 29 May 2019
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