Our approach to tax
We are a responsible corporate citizen in all our operating countries. Kemira’s tax approach supports responsible business performance. Our tax approach is based on our corporate strategy, values, the Kemira Code of Conduct and our tax policies. We target upfront certainty on our tax positions. We do not operate in tax haven countries for tax reasons.
Transparency and relationship with tax authorities
We are transparent about our approach to tax. We seek to develop and maintain good working relationships with the tax authorities and aim at open and constructive dialogue with them. Disclosures are made by observing applicable disclosure, documentation and reporting requirements such as IFRS.
Our principle is to strictly follow and pay taxes in accordance with all relevant tax rules and regulations as well as international best practices in all regions where we operate. Kemira monitors closely legislative changes, for example related to the BEPS project (Base Erosion and Profit Shifting), as well as the response of the tax authorities in the states where it operates. In addition to corporate income taxes, Kemira pays other taxes, for example payroll taxes, social security contributions, property taxes, value added taxes and customs duties.
Kemira applies the arm’s length principle in related party transactions in accordance with internationally accepted standards, such as the OECD Guidelines.
Kemira’s global Tax Footprint in 2018
Kemira published its second Tax Footprint report for the financial year 2018 – the first one was published for the financial year 2017. In 2018 Kemira’s total tax contribution was EUR 176.9 million (159.8) of which EUR 51.7 million (42.9) related to taxes borne and EUR 125.2 million (117.6) to taxes collected. Finland share of the tax contribution was EUR 61.5 million.