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Company Information
implications of these transactions are presented to the Group’s decision-making bodies for approval. Where appropriate, it is understood that the Group Tax Function will be involved well in advance to analyse the transactions to be implemented from a tax perspective and ensure they are properly documented. We strive to maintain an open and constructive relationship with tax authorities worldwide All Schréder entities must file tax returns and forms by the legal deadlines, and disclose relevant information to enable the tax authorities to conduct audits. In the event of an audit, the Schréder tax team and all other relevant business units will respond promptly and comprehensively to any questions or requests for information, in order to facilitate open and transparent dialogue with the tax authorities. When the tax authorities provide justified/legitimate recommendations on potential tax treatments and implications of a transaction or tax position, Schréder takes them into account to adjust its tax position to comply with these recommendations and to address their concerns. Such recommendations are taken into account not only for the tax periods under examination by the tax authorities, but also when determining the Group’s future tax strategy. Where significant tax and transfer pricing implications are involved, Schréder may seek to enter into Advance Pricing Agreements (APAs) with the relevant authorities to obtain prior tax approval. If the position of the tax authorities in their interpretation of the arm’s length principle leads to tax adjustments, Schréder may use all available tax dispute resolution channels to avoid or reduce double taxation.
We do not seek abusive tax outcomes that are contrary to the spirit and intent of the law Schréder only uses tax incentives and tax efficiency opportunities when they reflect the economic substance of the relevant legal entities and only implements them where there is at least a ‘more likely than not’ level of confidence that the position taken will be upheld by the tax authorities in the event of an audit. Schréder does not use tax incentives, reliefs or exemptions for purposes that are contrary to the intent of the law, nor to avoid having a tax presence in the jurisdictions in which it operates. We also do not purchase off-the-shelf tax planning solutions or engage in artificial or aggressive tax planning that lacks economic substance. Our transactions comply with the arm’s length principles and OECD standards When entering into intercompany transactions, Schréder follows OECD guidelines and local transfer pricing regulations to ensure compliance with the arm’s length principle. For similar intercompany transactions involving Schréder entities, the Group intends to apply a consistent intercompany pricing methodology that considers the interests of all parties involved. Relationship with Internal Stakeholders, Tax Authorities and Governments Our Group Tax Function acts as an equal business partner The Group Tax Function aims to work as an equal partner with the business, providing clear, timely and relevant business-focused advice on all aspects of tax. When Schréder considers business transactions that could have significant tax implications, or where the tax treatment is uncertain, the main tax
If the complexity of tax regulations and differing interpretations of certain tax rules lead to disagreements with the tax authorities, Schréder will seek to resolve any differences in an open, cooperative and professional manner. In exceptional cases, Schréder may decide to resolve tax disputes through formal proceedings. We advocate positive tax changes to help businesses create value The Group Tax team monitors changes in tax legislation and government consultations/ debates on tax policy in key jurisdictions to stay informed and anticipate potential future impacts on the business. Where relevant, we discuss tax initiatives and provide input to the business, primarily by participating in industry trade bodies, professional tax working groups, and roundtables. Our primary objective is to share experiences and advocate potential improvements to existing and future tax regulations, helping businesses to create value for the company, its customers and society. Schréder is not required to prepare a country-by- country report due to its size, in accordance with the current OECD guidelines, Council Directive (EU) 2016/881 and relevant national legislation.
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