Sustainability - Governance
Tax
Tax Policy
The Iida Group will pay appropriate taxes in accordance with the Group's management policies and code of conduct.
Furthermore, based on this tax policy, we will ensure fairness and transparency, conduct appropriate tax management, and fulfill our social responsibilities with high ethical standards.
1. Compliance with Laws and Regulations
We will comply with tax laws in Japan and abroad, and will promptly and appropriately understand the content of any new or revised tax laws, in order to fulfill our appropriate tax obligations.
2. Tax risk management
The Group's tax department recognizes that compliance with tax laws both in Japan and abroad is an extremely important corporate responsibility, and will endeavor to reduce tax risks by conducting thorough advance consideration of transactions in which tax risks are anticipated, such as by consulting with external experts and, if necessary, utilizing the system for prior referral to the authorities.
3. Transfer pricing taxation
In transactions with overseas affiliates of the Group, we will allocate profits appropriately, taking into consideration arm's length prices and based on an analysis of the roles played, assets used, and risks assumed by each country and each Group company.
4. Relationship with tax authorities
We will provide appropriate information to the tax authorities of each country, cooperate with them, and refrain from providing inappropriate benefits to them in order to build good and healthy relationships with the authorities and ensure their credibility in tax matters.
When we receive a complaint from the tax authorities, if there is a difference of opinion, we will seek the opinion of tax experts and resolve the complaint through constructive dialogue to prevent recurrence.
5. Ensuring transparency
The Group will disclose its approach to taxes and strive to provide easy-to-understand explanations and ensure transparency in tax matters to the tax authorities of each country.
