Is there a connection between taxation and the circular economy?
Is there a connection between taxation and the circular economy?
The concept of the circular economy is becoming increasingly prevalent in discussions on supply chains, sustainability, and geopolitical challenges. Many in business are asking ‘what is the circular economy?’ and ‘how might it impact thelong-term business strategy?’
More specifically, business tax leaders are asking how the circular economy might fit with potential taxation developments. What has occurred to date and what might we see ‘around the corner’? What potential tax levers are out there? What impacts might they have on the business?
Over the past couple of months, KPMG International and Jericho Chambers, have begun exploring these questions at roundtable events with a mix of tax professionals, sustainable business leaders, senior policymakers, academics, and commentators. Events for the Europe region and Africa region have been held. Whilst we are open to holding events in other regions, nothing is currently planned.
If you have experience or knowledge in this field and would like to discuss any of the issues raised, please do not hesitate to reach out at go-fmResponsibleTaxProject@kpmg.com.
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"Tax systems are still aligned with the linear, take-make-waste economy. Shifting to circular business models requires a shift in financial incentives, from taxing labor to taxing pollution and resource use."
Femke Groothuis, Founder and President of The Ex’tax Project
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