Responsible tax policy

We recognise the important role taxation can play in our sustainability strategy, where we use our financial expertise for the benefit of society. We aim for a moderate tax risk profile, acting at all times in accordance with all applicable laws and regulations and guided by relevant international standards.

Our aim is to comply with the spirit as well as the letter of the law and with any legitimate disclosure requirement at first demand. We seek to develop strong, mutually respectful relationships with national tax authorities based on transparency and mutual trust. We do not use secrecy jurisdictions or so-called tax havens for tax avoidance, nor do we create or help create tax structures that are intended for tax avoidance, have no commercial substance and do not meet the spirit of the law. Our transfer pricing is always based on the arm’s-length principle. Products we offer that include tax advantages for clients are only acceptable when these products fully meet the regulations in force, are transparent and do not contravene the intended purpose of these regulations. We are transparent about our approach to tax and comply with all the relevant rules regarding transparency.