GRI 207-1 — Approach to tax | London Reporting Academy

Disclosure focus

This disclosure asks an organisation to explain its overall approach to tax: how it manages tax matters, the principles or policies it follows, and how that approach is embedded in decision-making. The emphasis is on the organisation’s tax governance and operating approach, rather than on giving a detailed tax calculation or a list of every tax paid.

In practice, the focus is usually on whether the approach applies across the whole organisation and its relevant entities, not just at a few headline sites or flagship operations. A useful explanation will show how tax is handled consistently, who is responsible, and how the organisation makes sure its approach is applied in day-to-day operations and across different jurisdictions where it operates.

Before you start

A quick mental checklist before you prepare this disclosure — tick each as you settle it.

Have you got a clear tax policy or strategy in place, and if so is it something you can point to publicly?
Which internal decision-maker signs off that tax approach, and how often do they revisit it?
Can you explain, in plain business terms, how your tax approach fits with your wider business plan and sustainability goals?
Have you set out how you stay on top of tax rules and filing obligations across the group?
Are the details you plan to use traceable to a named source, so you can evidence them if asked?

Preparation

Key datapoints to prepare

Datapoint	What to capture	Evidence hint	Owner
Tax approach summary	A plain-language summary of how the organisation manages tax matters in practice, covering the main principles or stance it follows.	Tax policy, tax governance paper, board-approved tax framework, or internal tax position note.	Tax / Finance
Tax strategy exists	A yes/no confirmation of whether the organisation has a formal tax strategy in place.	Board paper, policy register, governance tracker, or published tax strategy document.	Tax / Finance
Public strategy link	The web address or document link for the tax strategy, if the organisation has made it public.	Published website page, annual report link, or external document repository entry.	Tax / Communications
Strategy approver	The board, committee, or senior executive role that formally signs off the tax strategy.	Board minutes, committee terms of reference, approval memo, or delegated authority schedule.	Tax / Company Secretariat
Review cycle	How often the tax strategy is formally checked and refreshed, such as annually or on another set cycle.	Policy review calendar, governance timetable, board paper, or control schedule.	Tax / Finance
Compliance approach	A plain-language summary of how the organisation handles legal and regulatory tax compliance in day-to-day practice.	Tax compliance policy, control framework, risk register, or internal compliance procedures.	Tax / Compliance
Strategy alignment	A description of how the tax approach supports the organisation’s wider business plan and its sustainability objectives.	Strategy deck, sustainability plan, tax policy, or integrated reporting narrative.	Tax / Strategy

Show GRI 207-1 sub-elements (LRA working checklist)

Explain how the tax approach supports the organisation’s wider business plan and sustainability goals.
Set out how the organisation handles compliance with tax rules and related regulations.
Describe the organisation’s overall approach to tax in practical terms.
State whether the organisation has a formal tax strategy.
Say how often the tax strategy is checked or updated.
Identify which board-level group or senior executive formally reviews and signs off the tax strategy.
Provide a public link to the strategy, if one is available.

LRA working checklist - paraphrased; see official source

How to prepare

Start by deciding whether the organisation has a tax policy or strategy, and gather the source material that shows it exists. If it is published, keep the live link or document reference ready for the disclosure file.
Identify who in the organisation formally signs off on that tax approach. Record the relevant board-level group or senior executive role, and note how often that review happens.
Write a plain summary of how the organisation handles tax in practice. Keep it focused on the approach itself, and separate it from broader commentary or unrelated tax topics.
Set out how the organisation manages compliance with tax rules and filing obligations. Use evidence from internal policies, controls, or process notes that support the description you give.
Explain how the tax approach connects with the organisation’s wider business direction and its sustainability priorities. Make sure the link is specific enough to show how the two are aligned.
Before finalising, check every item against the source documents and confirm nothing material is missing or misstated. If you have left anything out or changed wording from the source, document that clearly and correct it where needed.

Request the tax policy pack from Finance / Tax

Translate the disclosure into an internal business question — then adapt it to your organisation's own language.

How does the organisation set, approve, review and explain its tax approach, and how is that approach connected to the wider business plan and sustainability priorities?

Use your organisation’s own labels first, then map them to the reporting wording. For example, if you call this a tax policy, tax principles note, or tax governance paper internally, use that term in the request and in the evidence pack. Keep the ask in business language, not framework language, and check the source material before sign-off.

Weak request

Please provide the GRI 207-1 tax strategy evidence and confirm governance review, compliance approach, and linkage to sustainable development.

Why it fails: This uses framework wording that many internal owners will not use day to day, so it is easy to misunderstand or answer only partially. It also does not point the owner to the actual document types, approval trail, review timing, or where the evidence sits.

Better request

Please send the current tax policy or equivalent note for [period], the approval record showing who signed it off, how often it is refreshed, whether it is public, and a short explanation of how it supports the wider business plan and sustainability priorities. If your team uses different labels, use those and add a quick mapping note.

Formal email template

Subject: Request for the tax policy pack and supporting evidence

Hi [Name],

I’m pulling together the reporting pack for [period]. Could you please share the current tax policy or equivalent internal document, plus any supporting material that shows:
- whether the organisation has a formal tax policy or similar position paper;
- where that document is published, if it is public;
- who reviews and signs it off at executive or board level;
- how often it is reviewed;
- how the organisation manages tax compliance in practice; and
- how the tax approach links to the wider business plan and sustainability priorities.

Please include the latest approved version, the approval record or board paper, and any short note that explains the link to strategy. If the wording differs from the terms above, please use your internal terminology and add a brief mapping note.

A possible LRA training template only — please adapt this to your organisation and check the source material before sign-off.

Thanks,
[Your name]

Short Teams / Slack version

Hi [Name] — could you send over the latest tax policy / position note for [period], plus the approval record, review frequency, any public link, and a short note on how it connects to the business plan and sustainability priorities? Please use your internal terms if they differ. Thanks.

Industry examples

Manufacturing

Context. A group tax team holds the policy in a policy library and the board approval in a committee paper archive.

Adapted request. Please share the current tax policy note for [period], the latest committee or board approval paper, the review cycle, any public link, and a short summary of how the tax position supports operational resilience, investment plans, and sustainability goals.

Example response. Policy title: Group Tax Principles; Owner: Head of Tax; Approved by: Audit Committee; Review cycle: Annual; Public link: Annual report section; Compliance note: Central oversight of filings and external advice; Business link: Supports capital allocation, supply chain stability, and responsible growth.

Retail

Context. The finance team keeps a short tax governance memo and the public statement sits on the corporate website.

Adapted request. Please provide the current tax governance memo or equivalent, the sign-off record, how often it is reviewed, the website link if published, and a brief note on how the tax approach fits with trading strategy and responsible business commitments.

Example response. Document title: Tax Governance Statement; Owner: Finance Director; Approved by: CFO; Review cycle: Every two years and on material change; Public link: Company website; Compliance note: Filing calendar, controls, and escalation routes; Business link: Supports store expansion, cash management, and responsible business commitments.

The full request pack — response form, data table, evidence metadata and sign-off — is in the Download Centre.

Draft your disclosure

LRA training templates — adapt them to your organisation, and check the official source before sign-off.

Method note

Describe the basis used to prepare the disclosure, including how the organisation defines its tax approach, what it treats as its tax strategy, who is counted as the approving decision-maker, and how it determines the review frequency.

Context note

Explain what the figures and descriptions show about how tax is managed in practice, including whether there is a formal strategy, how oversight is organised, how often it is refreshed, and how tax is aligned with the wider business and sustainability agenda.

Fluctuation statement

If the approach, approval route, review timing, or public link has changed since the prior period, note the reason for the change and whether it reflects a shift in governance, compliance focus, or business strategy.

Content index entry

GRI 207-1 Approach to tax — [location / page] / [notes]

Download Centre

Professional preparation tools and forms for GRI 207-1. Each download includes a concise “How to use” guide.

XLSPrep & Assurance workbookDatapoints + per-datapoint risk, evidence to check, owner & evidence pack XLSData-request packFinance / Tax request — email & message templates, response form, sign-off & industry examples PDFLibrary CardPrintable summary (PDF)

Assurance readiness

For each claim, check the evidence

Claim	Risk	Evidence to check
We have a documented tax policy or equivalent statement, and we can show the version we used for the reporting period.	The assurer may question whether the organisation is relying on an actual approved policy rather than an informal summary or draft.	Approved policy document, version history, publication date, internal sign-off record, and any board or committee paper that confirms adoption.
Where we say a public link is available, we can point to the live source and show it matches the version we relied on.	The assurer may test whether the link works, whether it is current, and whether the published text is the same as the one used for the disclosure.	Working URL, archived copy or screenshot, publication date, and a comparison between the public text and the internal source used for reporting.
The tax policy was reviewed and approved by the named senior decision-maker or governing group we refer to in the report.	The assurer may probe whether the named reviewer really had authority and whether approval was properly recorded.	Committee or board minutes, approval memo, delegated authority matrix, and any paper showing who reviewed and signed off the policy.
We can show how often the policy is revisited, and that the stated cycle is the one actually followed.	The assurer may challenge whether the review frequency is real, current, and consistently applied.	Policy review timetable, calendar invites, meeting minutes, change log, and evidence of the most recent completed review.
Our description of compliance is based on the controls and processes we actually use to meet tax obligations.	The assurer may look for gaps between the narrative and the operating reality, including weak controls or unsupported claims about compliance.	Tax compliance procedures, control testing results, filing calendars, reconciliations, internal audit reports, and evidence of monitoring or escalation.
We have explained the link between tax matters and the wider business direction using internal strategy material and approved reporting inputs.	The assurer may test whether the connection is genuine, current, and supported by strategy documents rather than added after the fact.	Business strategy papers, sustainability strategy documents, cross-references in management reporting, and sign-off showing the linkage was reviewed before publication.

Evidence pack to prepare

The governing policy or written commitment behind this disclosure
A methodology / definition note setting out how the disclosure was scoped and prepared
Source-system exports the figures or facts were drawn from
The internal approval / sign-off record for the disclosure before publication
Minutes or records evidencing the relevant engagement or consultation

Common reporting gaps

The information is presented without a date or as-at point.
The scope or boundary of the statement is left undefined.
Key terms are used inconsistently across the report.
Material changes since the previous period are not disclosed.
Assertions are made without supporting detail or a source record.
Boilerplate is used that does not actually answer what is asked.

Mistakes to avoid when collecting the data

Asked the tax team only
The request goes to tax specialists alone, so the answer misses how finance, legal, governance and strategy owners actually describe the organisation’s tax approach.
Used framework language in the ask
The data call is written in reporting jargon, which makes internal owners search for the wrong documents instead of answering in the organisation’s own terms.
No clear boundary for what counts
Teams collect material from some entities or functions but not others because nobody defined which parts of the group, business lines or jurisdictions belong in scope.
Mixed different reporting periods
One source is pulled from the current year while another reflects a different review cycle, so the final pack combines timings that do not match.
Switched counting bases mid-stream
Some inputs are captured as yes/no answers while others are gathered as narrative or dated records, and the team later treats them as if they were the same kind of evidence.
Lost the original source labels
When files are copied into a working sheet, the team drops the document names, version marks or owner tags that show where each fact came from.
Merged separate populations too early
Information about the board, a committee and an executive reviewer is blended into one line, even though each group should be tracked separately for the draft.
Collected evidence without metadata
The pack contains statements but not the supporting dates, authors, approval references or links needed to show what each item was based on.
No sign-off trail before drafting
The team starts writing the disclosure before anyone has confirmed the source pack, so there is no record of who checked the facts and when.

Where judgement is often needed

What counts as the group’s tax policy after a deal closes
If a purchase or sale changes the businesses in scope, explain whether the write-up covers the new group as at the reporting date or only the businesses that were already in place for the full period, and note any cut-off used.
When local rules use different labels for the same tax topic
Where countries use different legal terms or filing concepts, describe the common business meaning you have used so readers can see how the group’s tax approach is applied across jurisdictions.
How to treat joint ventures, associates, and other partly controlled interests
State whether these interests are included, excluded, or described separately in the tax approach narrative, and explain the basis for that choice if the treatment is not the same everywhere.
Whether the policy description is based on policy in force now or during the year
Make clear if the account reflects the current tax policy, the policy that operated during the reporting period, or both, and explain any timing difference between approval, update, and publication.
Using estimates where the underlying record is incomplete
If some parts of the description rely on judgement or proxy information rather than direct records, say where estimates were used, why they were needed, and how they were checked.
How much detail to give when the public version could expose sensitive information
If the full internal wording cannot be shared, provide a higher-level summary that still explains the approach, and say that more detailed material is withheld for confidentiality reasons.
Choosing the level of rounding or grouping in the narrative
If figures, dates, or review intervals are rounded or grouped for readability, state the convention used and keep it consistent so the reader can compare items without confusion.
Deciding which governance role to name when approval sits with more than one person or forum
If sign-off is shared between a board-level group and an executive role, identify the body or role that formally approves the tax policy and explain any split in oversight or review.
Explaining the link to wider business and sustainability plans when the connection is indirect
Where the tax approach supports the business model or wider sustainability aims only through several steps, describe the chain plainly and avoid overstating the strength of the link.

Examples

Illustrative examples

Synthetic, written by LRA — not from a company report, not text from any standard.

Consumer goods manufacturing · synthetic · written by LRA

Synthetic illustration only. We keep a written tax policy that sets out how we manage tax risk, meet filing duties and align tax decisions with our wider business plan and sustainability priorities. The board’s audit and risk committee signs off the policy, and we refresh it once a year; the policy is available on our website at a public link. Our compliance process covers registration, returns, payments and controls across the group, with oversight from the finance director and regular reporting to the board.

This example shows how a reporter can describe its tax approach in plain language, state whether a formal policy exists, identify where it is published, and explain who approves it and how often it is reviewed. It also links tax management to business direction and sustainability goals, while summarising the compliance process without using the standard’s wording.

Transport and logistics · synthetic · written by LRA

Synthetic illustration only. Our group uses a documented tax framework to guide decisions on tax planning, risk, and day-to-day compliance across the countries where we operate. The group chief financial officer approves the framework after review by the board’s finance committee, and we revisit it every two years; a public version is posted on our corporate website. We connect this approach to our growth plan and responsible business commitments by aiming for predictable tax outcomes, timely filings, and controls that support long-term value creation.

This example illustrates a different sector using a formal tax framework, naming the executive and board-level reviewers, and giving a review cycle plus a public web location. It also explains how tax management supports the business model and sustainable development aims, while describing compliance in practical terms.

Draft output & visualisation ideas

How to turn the collected data into a draft disclosure. Suggested visuals and a GRI content-index line generated from this disclosure's datapoints.

Suggested visuals

Tax approach and governance overview — table: A side-by-side summary of the organisation’s tax approach, whether a formal tax strategy exists, where the strategy can be found if public, and which board-level or senior executive role signs it off.
Review cycle for the tax strategy — bar: How often the tax strategy is revisited, showing the review cadence in a simple frequency comparison.
Tax governance and approval chain — stacked bar: The different decision-makers involved in reviewing and approving the tax strategy, with the approval responsibility split across governance levels.
Tax approach linked to wider business priorities — table: How the tax approach is connected to the organisation’s wider business plan and sustainability priorities, with a short explanation of the linkage.
Compliance approach summary — bar: The organisation’s approach to meeting tax rules and regulatory requirements, presented as a concise summary of the main compliance themes.

From a number to a disclosure

What separates a figure from a disclosure.

Basic

We have a tax policy.

Better

We have a tax policy that the board reviews twice a year, and it covers our tax risk, compliance checks and how tax supports our business plan.

Best

We have a tax policy that the board signs off twice a year, it applies across the group, and when it changed this year we updated it to reflect a simpler operating model and tighter compliance controls.

From company reports

Real published reports Compare side by side →Get it free

Real reports where this topic is disclosed. The confidence label shows how closely each match maps to GRI 207-1 — these are report practice, not exact disclosure examples.

Company

Sector · Country

Year

Match

Page

Report

Assurance

Endesa, S.A.

Electric Utilities / IPP / Energy Traders · Spain

2025

Partial

p. 373 →p. 375 →p. 383 →

Endesa Consolidated Annual Report 2025 →

BSI

Evidence in Endesa, S.A.’s report

What the report shows

Endesa, S.A.'s 2025 Consolidated Annual Report includes coverage of general sustainability information and company context on pages 5 and 149, with detailed discussion of material impacts, risks, and opportunities related to consumers and end users on page 153. The report also addresses corporate governance and tax policy as part of its sustainability disclosures on page 362, and references its own methodology aligned with EU Regulation 2020/852 on page 380. However, some narrative elements, such as detailed methodology explanations for certain items, are missing or unclear, with no quotable evidence found for narrative item (a-iv).

Evidence-based summary of this company’s own report — not a disclosure template to copy, and not a compliance verdict.

Datapoint coverage

Datapoint	Status	Page
Tax approach summaryA reported value was found on this page.	covered	p. 5
Tax strategy existsA reported value was found on this page.	covered	p. 153
Public strategy linkNo quotable evidence was found in this report.	not found	—
Strategy approverA reported value was found on this page.	covered	p. 362
Review cycleSupporting context was found, but no headline value.	partial	p. 31
Compliance approachA reported value was found on this page.	covered	p. 380
Strategy alignmentNo quotable evidence was found (methodology/narrative).	unclear	—

Source trail

p. 5CONSOLIDATED NON-FINANCIAL INFORMATION STATEMENT AND INFORMATION ON SUSTAINABILITY.......... 148 24. General Information (ESRS 2).................................................................. 149 24.1. Company Sustainability Reporting Standard (ESRS 2 IRO-2)....... 150 24.2. Basis for preparation (ESRS…
p. 7f-use assets.................................................................................................. 531 22.1. Right-of-use assets as a lessee............................................................... 532 22.2. Right-of-use assets as a…
p. 413e.5.
p. 153Section Standard Disclosure Requirement (1) Section Number Consumers and End Users (S4): — 26.4 Material Impacts, Risks and Opportunities (IROs) and their interaction with the strategy and business model ESRS 2 SBM-3 26.4.1 Policies related to consumers and end users ESRS S4 S4-1 26.4.2 Processes: ESRS S4 — 26.4.3…
p. 150Strategy: ESRS 2 — 24.4 Strategy, Business Model and Value Chain ESRS 2 SBM-1 24.4.1 Interests and opinions
p. 362by Group companies to promote fair, responsible and transparent taxation that strengthens stakeholder confidence. Corporate Governance policy Own operations Tax Policy (1) Type of Impact, Risk and Opportunity (IRO): Real. (2) This Impact corresponds to Specific Company Information, which is included in the…
p. 380Areas Reporting framework Reference Taxonomy Own methodology based on compliance of Regulation (EU) 2020/852 of 18 June. 25.1 European Taxonomy General areas Areas Reporting framework Reference Business Model Description of the Business Model: Business Environment Organisation and Structure Markets in which it…
p. 348d on the Endesa website: https://www.endesa.com/es/accionistas-e-inversores/gobierno-corporativo/politicas-corporativas. Scope Actors involved in the definition Reference to the Policy Impacts, Risks and Opportunities (IROs) covered • Insufficient specific solutions for vulnerable customers (e.g., promotion of…
p. 374tax strategy by Group companies to promote fair, responsible and transparent taxation that strengthens stakeholder confidence. Endesa has a Tax
p. 374tax affairs periodically reports to the Board of Directors, through the Audit and Compliance Committee (CAC), on the tax
p. 362Adoption of a voluntary tax strategy by Group companies to promote fair, responsible and transparent taxation that strengthens stakeholder confidence.
p. 374Tax Policy - Endesa’s tax strategy Description Main contents • Endesa is committed to good governance, transparency and integrity
p. 31review. • to understand the source of information used by management (e.g. stakeholder interaction, business plans and strategy documents) and review
p. 367Compliance and Anti-Bribery Policy Description Main contents • Endesa’s Criminal Law Compliance and Anti-Bribery Policy details

E.SUN Financial Holding Company, Ltd.

Banks / Diverse Financials / Insurance · Taiwan

2024

Exact

p. 127 →p. 164 →p. 132 →

2024 Sustainability Report →

PwC

Evidence in E.SUN Financial Holding Company, Ltd.’s report

What the report shows

E.SUN Financial Holding Company, Ltd.'s 2024 Sustainability Report covers several relevant areas, including a focus on a diverse, inclusive, and friendly workplace as part of talent attraction and retention (p.167), and detailed information on tax policy, governance, control, and risk management aligned with GRI 207 standards (p.164). The report also describes the Board of Directors’ involvement in sustainable development strategy execution (p.41) and outlines its approach to identifying and addressing data security risks (p.189). However, some narrative items lack clear or direct evidence in the report, as indicated by the absence of quotable content for certain disclosure elements.

Evidence-based summary of this company’s own report — not a disclosure template to copy, and not a compliance verdict.

Datapoint coverage

Datapoint	Status	Page
Tax approach summaryA reported value was found on this page.	covered	p. 167
Tax strategy existsA reported value was found on this page.	covered	p. 164
Public strategy linkA reported value was found on this page (%).	covered	p. 41
Strategy approverA reported value was found on this page.	covered	p. 164
Review cycleNo quotable evidence was found in this report.	not found	—
Compliance approachEvidence was found on this page.	covered	p. 189
Strategy alignmentA reported value was found on this page.	covered	p. 71

Source trail

p. 167rmation, the topic 'Talent Attraction and Retention' has been adjusted to 'Diverse, Inclusive, and Friendly Workplace'. A-2 Explanation of involvement in the value chain Material Issuies Value Chain Impact Boundary and Involvement Explanation Upstream E.SUN Downstream supplier cooperative partner government FHC and…
p. 164Integrity in Operations Policy and Implementation 111 GRI 207: Tax 2019 207-1 Tax policy 4.7 Tax Go
p. 41strategy execution. Board of Directors Sustainable Development Committee Strategic development incentive link (20%): Includes developing E.SUN's long
p. 164poly practices 4.2.1 Integrity in Operations Policy and Implementation 111 GRI 207: Tax 2019 207-1 Tax policy 4.7 Tax Go vernance 127 207-2 Tax governance, control, and risk management 4.7 Tax Governance 127 207-3 Stakeholder engagement and management on tax-related issues 4.7 Tax Governance 127 207-4 Country Report…
p. 164Tax 2019 207-1 Tax policy 4.7 Tax Go vernance 127 207-2 Tax governance, control
p. 189Description of approach to identifying and addressing data security risks FN-CF-230a.3 124 Selling Practices Regulatory aggregated
p. 71Sustainable Development Engagement Guidelines 9. Sustainable Development Voting Guidelines 1. Management Guidelines for Corporate Banking's Handling of Green
p. 41link (10%): CDP performance, Assist in IFRS S2 implementation · Outline sustainable development strategies, oversee the progress of various projects
p. 171Sustainable Development Best Practice Principles for TWSE/GTSM Listed Companies Appendix 7 - ISO26000 Index Appendix 8 - UN Global Compact Index
p. 127Approach to tax E.SUN FHC commits to not using tax havens or low-tax jurisdictions for tax
p. 23he field of climate change set the industry benchmark, and it continues to maintain a leading position in this area. (Renowned Sovereign Wealth Fund) ．Annual: Government agency evaluation ．Irregular: Policy research meetings, seminars, public hearings ．Irregular: Official documents, meetings, phone calls,…
p. 19have been externally reviewed by BSI and PwC for accuracy and compliance. Regulatory Compliance & Internal Audit IFRS Sustainability Disclosure
p. 81sustainable development trends while encouraging invested companies to actively participate in relevant initiatives and carbon reduction commitments. Enhance the transparency

Canacol Energy Ltd

Oil and Gas · Canada

2024

Partial

p. 53 →p. 54 →p. 204 →

2024 ESG Integrated Report →

Deloitte; EY; BSI

Evidence in Canacol Energy Ltd’s report

What the report shows

Canacol Energy Ltd’s 2024 ESG Integrated Report includes coverage of its tax compliance and fiscal approach, highlighting a commitment to accountability and transparency as noted on page 54. The report also outlines the company’s sustainability strategy aimed at strengthening competitiveness and quality (p.16), and references additional climate-related disclosures such as the 2024 Climate Change Management Report and CDP Climate Change Questionnaire (p.86). However, there is no clear or quotable evidence found regarding some specific narrative items (a-iii and a-iv), and certain details remain unclear or missing from the report.

Evidence-based summary of this company’s own report — not a disclosure template to copy, and not a compliance verdict.

Datapoint coverage

Datapoint	Status	Page
Tax approach summaryA reported value was found on this page.	covered	p. 54
Tax strategy existsA reported value was found on this page.	covered	p. 16
Public strategy linkA reported value was found on this page.	covered	p. 86
Strategy approverA reported value was found on this page.	covered	p. 21
Review cycleNo quotable evidence was found in this report.	not found	—
Compliance approachNo quotable evidence was found (methodology/narrative).	unclear	—
Strategy alignmentNo quotable evidence was found (methodology/narrative).	unclear	—

Source trail

p. 54tax compliance and fiscal approach, reflecting our commitment to accountability and transparency [GRI 207-4]. This ongoing engage- ment
p. 1Integrated report ESG 2 0 2 4 E N V I R O N M E N T A L • S O C I A L • G O V E R N A N C E
p. 16strategy [GRI 2-22] At Canacol, our sustainability strategy is designed to strengthen our competitiveness and improve the quality
p. 59Tax and Corporate Affairs Previous experience: Over 25 years of experience in finance, mergers and acquisitions, international tax planning
p. 21strategy. Risk management and opportunities Conduct annual stress and sensitivity tests on the most critical strategic risks. Selection of 4 strategic
p. 86Approach (ACA). For further information: - Our 2024 Climate Change Management Report (TCFD): link - The 2024 CDP Climate Change Questionnaire: link
p. 21Governance Issues Strategic Goals 2024 Progress / Compliance Ethics and integrity Continue to report no cases of ethical breaches for all employees
p. 6governance 37 8. Management report 40 9. Corporate model 55 Introductory chapters Content GRI: [GRI 302-1] SASB: [EM-EP-140a
p. 114approach. This model establishes a clear structure, including both executive and tactical positions. Based on this structure, roles and responsibilities
p. 31approach to man- aging human rights-related risks and opportunities across all its operations, ensuring alignment with the highest international
p. 54strategy is regularly reviewed by the Executive Committee and the Board of Directors. Senior Management evaluates all tax positions
p. 80have established clear responsibilities at the executive level for all lobbying and advocacy activities, ensuring a governance framework for public
p. 37governance processes. This approach enables us to effectively manage sustain- ability-related risks while maximizing opportunities to create long
p. 64governance and a strategy focused on operational efficiency, technological innovation, and adherence to ESG standards, we generate value for our investors
p. 80body and properly recorded in our accounting books, ensuring transparency. These activities must also be in alignment with our corporate
p. 17Governance Ethics and integrity Risk and Opportunity Management Information Security and Cybersecurity Building a cleaner energy future Environmental, Social
p. 205Position Responsible for Risk Management Charle Gamba - CEO- Reporting Line: Audit Committee of the Board of Directors Highest Position

Check your understanding

A group has a written tax policy, but it sits only with the finance team and has never been taken to the board. The policy was last updated two years ago after a change in the group structure.Can you describe the organisation’s tax approach if you cannot show who formally signs off the policy and how often it is revisited?

Model answer. Not yet. I should explain the policy in plain terms, identify the board or a named senior executive that gives formal approval, and state the review cycle. If the policy is public, I should also include the link; if it is not public, I should not invent one.

Why this matters. The disclosure needs a clear picture of the policy itself, who approves it, and how regularly it is checked.

A preparer finds a tax policy on the company website, but the document is a general ethics statement with one short paragraph on taxes. The tax team also has a separate internal memo that sets out the real decision rules.Which document should be used to explain the tax approach, and what should be done if the public document is only part of the story?

Model answer. I should describe the actual tax approach using the substance of the internal rules and then point to the public document only if it genuinely reflects that approach. If the public page is incomplete, I should not present it as the full strategy; instead, I should explain the gap and avoid overstating what is available externally.

Why this matters. Use the source that truly reflects how tax is managed, and do not treat a partial public statement as the whole picture.

The tax policy says the audit committee reviews it every year, but in practice the committee has not seen it for 18 months because the agenda was crowded with other matters. Management still wants to report the annual cycle.Should the reported review frequency follow the written policy or the actual governance practice?

Model answer. It should follow what really happens, not what the policy says in theory. If the committee has not reviewed it for 18 months, the report should reflect that timing and, if needed, explain the reason for the delay rather than repeating the planned annual cycle.

Why this matters. Report the real review pattern, not the intended one.

A multinational group says its tax approach supports growth, but the draft narrative only mentions filing returns on time and paying local taxes. It does not explain how tax decisions connect to expansion plans or wider sustainability goals.What extra explanation is needed to show the link between tax management, the business plan, and the organisation’s wider development aims?

Model answer. I should add a short explanation of how tax choices support the business model and the organisation’s longer-term development priorities, such as where it invests, how it funds growth, or how it manages risk in a way that fits those aims. A statement about compliance alone is not enough to show that connection.

Why this matters. The narrative should connect tax management to the business direction and wider development strategy, not just to filing and payment tasks.

Analyse this disclosure across real reports

See how companies actually report GRI 207-1 — drawn from their own published reports, with the exact pages, and an LRA AI-assistant that works through it with you. Available to LRA Community members and to students throughout their platform access.

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Related framework references

How this disclosure maps across the major reporting frameworks.

GRIPrimary

GRI 207-1

within GRI 207: Tax 2019

Open official source →

→

ESRSRelated

ESRS G1

Business Conduct — closest topical match (post-Omnibus ESRS catalogue).

→

IFRSNo equivalent

—

No direct IFRS S1/S2 topical equivalent.

Related & explore

Tax governance, control, and risk managem… Guide ✓Stakeholder engagement and management of … Guide ✓Country-by-country reporting Guide ✓

More in GRI 207 → Browse full catalogue → Disclosure Library home → Search all disclosures →

Questions this page answers

For GRI 207-1, what should I have ready before I start drafting the tax disclosure page?

The page says to prepare a tax approach summary, confirm whether a tax strategy exists, gather the public strategy link, identify the strategy approver, note the review cycle, describe the compliance approach, and capture how the strategy aligns with the business. Use those items as your starting checklist before drafting. ↑ section

How do I use the step-by-step 'how to prepare' section for GRI 207-1 in practice?

Use it as a working sequence for collecting the core inputs, checking what evidence exists, and turning that into a draft disclosure. The page is designed to help you move from raw information to a report-ready narrative. ↑ section

Who should own the GRI 207-1 tax disclosure data in my organisation?

The page points you to the kinds of people who may hold the inputs, including a sustainability/ESG manager, HR or another data owner, and an assurance reviewer. In practice, assign ownership for the strategy, approval, review cycle, and evidence so the disclosure can be assembled consistently. ↑ section

What evidence should I collect for GRI 207-1 so the disclosure is assurance-ready?

The page includes an evidence pack with five items and also sets out six assurance claims to verify, each with a claim, risk, and evidence angle. Use those materials to build a file that shows where each reported point came from and who can support it. ↑ section

What are the six assurance claims on the GRI 207-1 page, and how do I use them?

The page says there are six claims to verify, each framed around a claim, risk, and evidence. Use them as a review checklist to test whether the draft disclosure is supported and whether anything is missing before assurance. ↑ section

What are the most common mistakes people make when drafting GRI 207-1 tax disclosures?

The page lists common reporting gaps and mistakes to watch for. Use that section as a pre-submission check so you can spot missing inputs, weak evidence, or inconsistencies before the draft is finalised. ↑ section

How do I turn the GRI 207-1 page into a draft disclosure quickly?

The page gives you draft-output support, including visualisation ideas, narrative starters, and a GRI content-index line. That means you can use the page to move from collected data to a first draft without starting from a blank page. ↑ section

How should I use the synthetic example disclosure on the GRI 207-1 page?

Treat it as a model for structure and level of detail, not as a real company example. The page says the example is synthetic and includes a quantitative table, so you can use it to see how the disclosure might read once your own data is inserted. ↑ section

Can I reuse my GRI 207-1 tax data for ESRS G1 Business Conduct reporting?

The page notes ESRS G1 (Business Conduct) as the closest correspondence, so the data may be reusable across both. It does not say the requirements are identical, so you should still check the other framework separately. ↑ section

Where do I find the workbook and printable card for GRI 207-1 preparation?

The Download Centre includes a Prep & Assurance workbook in .xlsx format and a printable Library Card in .pdf format. Use the workbook to organise the inputs and the card as a quick reference while drafting or reviewing. ↑ section

Approach to tax

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