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Company Information
Schréder’s Tax Governance, Control and Risks Management We intend to implement a robust tax risk management and governance framework The Board of Directors of Schréder SA is ultimately responsible for tax strategy and compliance, and ensures that the appropriate framework is in place to oversee the identification and management of tax risks. In line with the Group’s tax policy, responsibility for day-to-day tax matters, including compliance and risk management, lies with the Group Finance and Tax functions. These functions report to the Group Chief Financial Officer (CFO). As a member of the Schréder Executive Leadership Team, the CFO has executive responsibility for tax matters. The CFO regularly informs the Audit Committee and the Board of Directors of Schréder SA about the Group’s tax position and important tax matters including tax planning, tax controversies and significant tax return positions. The Group Tax Function proactively identifies, evaluates and monitors potential tax risks, drawing on the expertise of other departments committed to sharing knowledge and documentation on existing procedures and processes. This enables the Group Tax Function to review, analyse, improve and/ or correct these procedures and processes, with the aim of limiting or eliminating the risk of non- compliance. Schréder’s internal controls framework notably foresees an Approval Process for Intercompany Transactions which aims to review transactions from tax, legal, financial and accounting perspectives, and proactively evaluate and prevent non-compliance.
Schréder entities and managers must follow the Transaction Approval Process for planned intercompany transactions, from the initial planning stage through to final management approval and implementation. The Group Tax Function also manages tax compliance and tax risk mitigation through frequent contacts and reviews with local finance departments and internal and external auditors. External advisers are consulted when appropriate, for instance to ensure that the group pays the correct amount of tax on significant transactions, or when there is uncertainty regarding the interpretation of tax legislation. Compliance-related risks are also managed through reviews and audits performed by the Group’s Internal Audit Function (see the Internal Audit section). Tax Planning and Risk Appetite at Schréder Our tax planning aims at supporting the business Schréder uses tax planning as a tool to support business and commercial strategies, ensuring that tax payments are fair and aligned with the group’s business model. The Schréder tax team only proposes relevant, tailored tax solutions that address the specific needs of the business. They advise on appropriate tax treatments and identify available tax efficiencies within the law. Furthermore, Schréder’s tax team closely monitors the rapidly evolving international tax landscape. The team aims to proactively comply with the new tax legislation currently being implemented in line with EU and OECD directives.
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