Tax footprint

Our approach to tax

Business rationale

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.

Compliance

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. 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.

Transfer pricing

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 2019

Kemira publishes its third Tax Footprint report for the financial year 2019 in Spring 2020 – the first tax footprint report was published for the financial year 2017. In 2019, Kemira’s total tax contribution was EUR 235.0 million (EUR 176.9 million) of which EUR 72.6 million (EUR 51.7 million) related to taxes borne and EUR 162.4 million (EUR 125.2 million) to taxes collected.

 

Additional information

Kemira Tax Footprint Report 2019 (.pdf)
Kemira Tax Footprint Report 2018 (.pdf)
Kemira Tax Footprint Report 2017 (.pdf)
Kemira UK Tax Strategy (.pdf)

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