- Purpose of the Tax Policy TAIYO YUDEN Group has CSR Charter and CSR Code of Conduct which clarify its social responsibility and the rules for its conduct and stipulate compliance with all laws and international rules and their purport. CSR Code of Conduct includes reference to taxes. By detailing it as a separate document, we clarify our tax policy.
TAIYO YUDEN Group believes that balancing (compatibility) between social values (compliance/CSR activities) and economic values (pursuit of return to shareholders) will enhance its corporate value.
This is also true for tax accounting. We will enhance our corporate value by balancing (compatibility) between compliance (appropriate tax payment) and the application of tax rules to our business necessary to improve the shareholder value (appropriate tax savings).
Tax payment is one of the most fundamental social responsibilities of a company. Underpayment or overpayment of taxes may damage the social credibility or the corporate value of a company. Recognizing this, we will make appropriate and timely tax payment in accordance with the tax laws and regulations of the individual countries in which we operate.
To that end, we obtain the latest tax information and improve our tax education program.
We are a Global Enterprise
TAIYO YUDEN Group does not implement schemes or transactions intended to arbitrarily avoid taxes.
TAIYO YUDEN Group adequately complies with international tax frameworks such as the OECD guideline and the BEPS project.
Appropriate Profit Distribution and Tax Payment on a Global Basis
TAIYO YUDEN Group appropriately distributes profits among related parties in order to properly pay taxes in each country it operates its business.
Appropriate profit distribution will be determined according to the functions and risk burden of the parties involved based on the arm' s length principle of the OECD guideline.
TAIYO YUDEN Group maintains a distribution channel that can manage the profit distribution. It will use the bilateral advance pricing agreement (BAPA) with tax authorities for important profit distribution.
Relationship with Tax Authorities
TAIYO YUDEN Group maintains a sound and cooperative relationship with tax authorities, and makes timely and appropriate response to them.
We reduce tax risks and build trust relationships with tax authorities by making inquiries or using BAPA as necessary.
Established on October, 2018