We are committed to conducting business in compliance with all applicable tax laws, and have established tax standards that are intended to ensure compliance with these laws. Legal obligations and societal expectations require that our transactions are based on sound tax strategies, and that we act in good faith in all dealings with tax authorities and other stakeholders.
This is why our approach to tax is based on the following:
- We comply with local rules and regulations;
- Business decisions are not determined by tax considerations alone;
- We pay tax commensurate with the activities we perform and substance we have in a particular country;
- We are open and transparent with tax authorities in the countries where we do business;
- We do not engage in aggressive tax planning, and we do not have in place any contrived tax structures; and
- We do not operate “letter box” companies.
