SHV is committed to achieving the highest standards of Ethics and Integrity. We act with integrity, in line with the law and policies. Every day all of us pay, in many ways, attention to the importance of doing business in a compliant and ethical way and in line with the culture of SHV. A culture of shared values where SHV has never tolerated and will never tolerate unethical behaviour.
In line with this commitment, SHV believes its obligation as a responsible taxpayer is to comply with the tax legislation of the countries in which it operates and pay the right amount of tax at the right time. SHV does not only comply with the letter of the law, but also with its spirit. In line with this commitment, we embrace the unique Tax Governance Code, presented by the Confederation of Netherlands Industry and Employers (VNO-NCW) on 18 May 2022, together with 40 other major Dutch multinationals. With the new Tax Governance Code, a next step has been taken towards more transparency regarding taxes. This contributes to a better dialogue about taxes and could help re-establish trust.
SHV uses business structures that are aligned with business activities and that are only driven by commercial considerations. SHV only makes use of tax incentives where they 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.
SHV pays tax on profits according to where value is created within the normal course of its business activities. SHV does not use aggressive tax planning strategies or tax havens to minimize its tax burden. The transfer pricing of intercompany transactions is done in accordance with the arm’s length principle developed by the OECD and is applied consistently.
SHV maintains an open and constructive dialogue with tax authorities based on transparency and trust. SHV engages with them with honesty, integrity and respect.