T&D Insurance Group (the “Group”) establishes the following basic tax policy, ensures proper handling of tax matters, and fulfills its corporate social responsibility.
1. Basic Idea
Based on the Group’s management philosophy, the Group aims to contribute to people and society through its business activities in order to realize a sustainable society.
In addition, for the purpose of conducting corporate activities that are sincere, fair and appropriate for all stakeholders, the Group stipulates compliance with laws and regulations in its Compliance Code of Conduct.
Also, the Group will strive to further improve governance and compliance, and in order to ensure proper handling of tax matters, the Group will deal with them in a sincere and responsible manner in line with the tax laws and regulations of each country or region and the purport thereof when conducting its business.
2. Appropriate Tax Burden
The Group strives to realize an appropriate tax burden through the elimination of double taxation based on the use of tax treaties and the appropriate use of various tax systems.
The Group will not interpret the laws and regulations in a way that deviates from the purport thereof or conduct tax planning that is solely intended for tax avoidance.
3. Responding to Transfer Pricing Taxation
The Group will conduct international transactions between Group companies at arm’s length prices in accordance with the OECD Transfer Pricing Guidelines and will pay appropriate taxes based on appropriate income reflecting the economic activities conducted in the relevant country or region.
4. Establishment of Tax Payment System
The Group will establish a system to properly conduct tax operations applicable in each country or region.
T&D Holdings is working to strengthen its tax governance system in cooperation with domestic and overseas Group companies.
5. Relationships with Tax Authorities
The Group strives to build sound relationships with tax authorities by responding to them sincerely and providing timely and appropriate explanations that are based on facts.