Our approach to tax
Kemira’s approach to tax matters is to support responsible business performance in a sustainable way. Taxation is an essential factor in our current business environment and it has a significant impact on our businesses, financing and growth opportunities. Kemira manages taxes according to the principles set in Kemira´s global tax policy (“Tax Policy”). In order to support sustainable business operations with high ethical corporate responsibilities, Tax Policy is aligned with our corporate strategy and values as well as the Kemira Code of Conduct. We are committed to conducting our business in compliance with all applicable laws and regulations and according to high ethical standards. We are a responsible corporate citizen in all our operating countries.
Transparency and relationship with tax authorities
We are transparent and proactive in all interactions with the tax authorities. We have an open and positive working relationship with the tax authorities and we aim at constructive dialogue with them. We are committed to prompt disclosure and transparency in all tax matters with the tax authorities.
We are committed to meet all statutory compliance obligations in each jurisdiction. Our target is to comply with the applicable tax rules in our operating countries for all tax filing, tax reporting and tax payment obligations, including DAC6 reporting. Kemira monitors closely legislative changes and developments globally. In addition to corporate income taxes, Kemira pays or collects other taxes, for example, indirect taxes, property taxes, customs duties, energy and waste taxes, employment taxes like payroll taxes and social security contributions.
We apply the OECD standards in cross-border transactions and we ensure that our transfer pricing is in accordance with the “arm’s length principle”. Kemira also meets the transfer pricing and Country-by-Country (“CbC”) reporting requirements in each jurisdiction as required.
Kemira’s global Tax Footprint in 2021
Kemira publishes its fifth Tax Footprint report for the financial year 2021 in Spring 2022 – the first tax footprint report was published for the financial year 2017. In 2021, Kemira’s total tax contribution was EUR 211.4 million (EUR 207.1 million) of which EUR 57.4 million (EUR 62.3 million) related to taxes borne and EUR 154.0 million (EUR 144.8 million) to taxes collected.