Over recent years, taxation has become a topic of societal debate. Fugro believes a responsible approach to tax is an integral part of doing business sustainably.
Fugro recognises that tax is both a cost of doing business, but also a contribution to the countries in which it operates.The management of tax affairs by multinationals is an area of international debate. There is also interest in how Fugro makes decisions about tax.
Fugro has adopted the following set of global tax principles. We believe these principles illustrate good corporate practice in the area of tax management and tax transparency, balancing the interests of various stakeholders, including clients, investors and the governments and communities in the countries in which we operate.
1. A True Business Partner
Tax within Fugro is considered an integral part of the business. The tax function within Fugro supports the company in achieving its business strategy and corresponding financial objectives. This support takes place within the boundaries of legal and tax frameworks.
Fugro will seek to act in accordance with global tax laws, disclosure requirements and fiscal obligations. We aim to comply with the spirit as well as the letter of the law.
3. Corporate social responsibility
Fugro recognises that tax is both a cost of doing business, but also a contribution to society; this is a fundamental part of our corporate social responsibility towards a wide range of stakeholders.
4. Relationships with governments and tax authorities
Fugro will continue to develop and maintain appropriate professional relationships with tax authorities by complying with fiscal reporting requirements and responding to enquiries in a complete, transparent and timely manner.
5. Business decisions
With the significant nature of global operations, the tax function within Fugro will give support and value to the business by providing timely and up to date tax advice such that commercial decisions can be made whilst understanding the tax risks and costs.
6. Financial statements
Fugro will ensure that the tax consequences of company transactions are correctly reflected in the financial statements.
Fugro manages its tax affairs, including optimization thereof, in ways that have operational, commercial and legal substance and thus follow the real business structures of the group.