Taxation is a hot topic in society. At Fugro, we believe a responsible approach to tax is an integral part of doing business sustainably.
We recognise that tax is more than a cost of doing business – it is a contribution to the countries in which it we operate.
7 global tax principles
These principles illustrate our commitment to good corporate practice when it comes to tax management and tax transparency. They also help us balance 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
To us, taxes are an integral part of the business. Our tax function helps in achieving Fugro’s business strategy and corresponding financial objectives. This support takes place within the boundaries of legal and tax frameworks.
We always try 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
Tax isn’t just the cost of doing business, it’s a contribution to society. This notion is a fundamental part of our corporate social responsibility. Towards a wide range of stakeholders.
4. Relationships with governments and tax authorities
We’re always developing and maintaining appropriate professional relationships with tax authorities. How? By complying with fiscal reporting requirements and responding to enquiries. Fully, transparently, and timely.
5. Business decisions
Our tax function doesn’t just support our business around the world, it adds value. It does so by way of timely and up to date tax advice such that commercial decisions can be made whilst understanding the tax risks and costs.
6. Financial statements
We make sure that the tax consequences of company transactions are correctly reflected in our financial statements.
We manage and optimise our tax affairs in ways that have operational, commercial and legal substance and thus follow the real business structures of the group.
In our Tax Strategy we detail the group’s strategic tax objectives. This strategy is reviewed every year.
The Global Tax Strategy and Tax Principles form the basis of the UK group’s tax strategy. This is a stand-alone document that details the Fugro UK Group’s approach to tax. And its compliance with the UK legislative requirements. The strategy applies to all companies in the UK Group. It is reviewed annually.