Taxation

8 global tax principles

These principles illustrate our commitment to good corporate practice when it comes to tax management and tax transparency. They also help us balance the interests of various stakeholders, including clients, investors and the governments and communities in the countries in which we operate.

1. A true business partner

The tax function within Fugro supports the company by adding value from a tax perspective, thus helping the company in achieving its business strategy and corresponding financial objectives. This support takes place within the boundaries of legal and tax frameworks.

2. Compliance

Fugro will seek to act in accordance with global tax laws, disclosure requirements and fiscal obligations. We aim to comply with the spirit as well as the letter of the law.

3. Corporate social responsibility

Fugro recognises that tax is both an integral part of doing business as well as a contribution to society; this is a fundamental part of our corporate social responsibility towards a wide range of stakeholders.

4. Corporate Reputation

Fugro ensures that the corporate reputation of the group is considered when managing its tax affairs.

5. Relationships with governments and tax authorities

Fugro will continue to develop and maintain appropriate professional relationships with tax authorities by complying with fiscal reporting requirements and responding to enquiries in a complete, transparent and timely manner.

6. Business decisions

With the significant nature of global operations, the tax function within Fugro will give support and value to the business by providing timely and up to date tax advice such that commercial decisions can be made whilst understanding the tax risks and costs.

7. Financial statements

Fugro will ensure that the tax consequences of company transactions are correctly reflected in the financial statements.

8. Structure

Fugro manages its tax affairs, including optimization thereof, in ways that have operational, commercial and legal substance and thus follow the real business structures of the group.

Tax strategy

In our Tax Strategy we detail the group’s strategic tax objectives. This strategy is reviewed every year.

The Global Tax Strategy and Tax Principles form the basis of the UK group’s tax strategy. This is a stand-alone document that details the Fugro UK Group’s approach to tax. And its compliance with the UK legislative requirements. The strategy applies to all companies in the UK Group. It is reviewed annually.