Nissui Group Tax Policy
At Nissui Group, we rightly fulfill our tax filing and payment duties in accordance with the tax laws and regulations in all countries and regions where we operate. Returning portions of our business profits in the form of taxes enables us to contribute to further development of these communities. These align with what we believe are important corporate social responsibilities.
We value a fair stance to taxes and an established governance structure that reduces tax risks and ensures transparency, as it allows us to create a foundation of trust with our stakeholders which ultimately contributes to the continuous growth of our corporate value.
Accordingly, we have established the following tax policies that all companies within the group must comply with for tax matters.
We have designated the Chief Financial Officer (CFO) of Nissui Corporation to be ultimately responsible for the tax governance of the Nissui Group, and the accounting department of Nissui Corporation will oversee the tax governance of the group as a whole. The accounting department of Nissui Corporation is to optimize tax operations for the group as well as construct a tax governance structure, which they periodically assess effectiveness of. Each group company is to conduct its own tax operations under this tax governance structure.
We comply with applicable tax laws, regulations, and treaties in the countries and regions where we operate, and conduct tax filings and payments appropriately. All required tax information disclosures will be made in accordance with the respective laws and regulations of each jurisdiction.
For any transactions that may involve unclear tax interpretations, all efforts will be made to reduce associated tax risks by consulting with external experts, advance rulings, or other methods, as applicable. In the event of conflicting opinions with tax authorities on specific tax matters, tax risks will be assessed with care, and appropriate steps will be taken for risk control.
For related party transactions within our group, arm's length prices in accordance with the OECD Transfer Pricing Guidelines will be adhered to. We comply with the transfer pricing documentation, as governed by the laws and regulations of each country and region.
We aim to optimize tax costs to increase corporate value by utilizing measures available under the tax laws and regulations of each jurisdiction. No excessive tax planning will be engaged in, such as transactions with no substance or use of tax havens solely for the purpose of tax avoidance.
Communication with Tax Authorities
Not only will tax obligations be met in accordance with tax laws and regulations, but all requests from tax authorities will be responded to with sincerity to maintain a mutually respectful relationship. In the event there are findings resulting from tax audits or other regulatory procedures, corrective measures will be taken.
Released on August 28, 2023