As SHV is committed to achieving the highest standards of Ethics and Integrity, we believe it is our obligation as a responsible taxpayer to comply with the tax legislation of the countries in which we operate and pay the right amount of tax at the right time. SHV not only complies with the letter of the law, but with its spirit too.
We employ business structures that are aligned with our business activities. These structures are driven solely by commercial considerations. We only make use of tax incentives that are aligned with business activities and operational objectives, generally available to all market participants and specified by law. As such, tax always follows the business.
We pay tax on profits according to where value is created within the normal course of our business activities. We do not use aggressive tax planning strategies or tax havens to minimise our tax burden. The transfer pricing of intercompany transactions is done in accordance with the arm’s length principle developed by the Organisation for Economic Cooperation and Development (OECD) and is applied consistently.
SHV maintains good working relationships with the relevant tax authorities. These relations are based on transparency and trust and we engage with honesty, integrity and respect.