Generali approves the Group’s Tax Strategy
17 April 2020 - 13:15
- The strategy is in line with international best practices and represents an important aspect of the Group’s sustainability strategy
Turin - At a meeting chaired by Gabriele Galateri di Genola, the Assicurazioni Generali’s Board of Directors approved the Group’s Tax Strategy, an essential part of the tax risk control system that defines sound and prudent taxation management methods for all of the Group’s companies. The Tax Strategy, published on the Company’s corporate website, is in line with international best practices and is an important aspect of the implementation of the Group’s sustainability strategy.
More specifically, the Strategy ensures the correct application of tax regulations, guided by the principles of honesty, integrity and transparency in the relationship with tax authorities, and combines value creation for all stakeholders with long-term protection of the Company’s reputation. In order to promptly fulfil its tax obligations in maximum transparency with regard to tax authorities, the Group commits to acting in full compliance with the applicable tax regulations in the countries where it operates and to interpreting them in such a way as to responsibly manage tax risk, ensuring consistency between the place of value production and the place of taxation.
The Tax Strategy follows Generali’s sustainability principles given that tax revenues make a significant contribution to the economic and social development of the communities in which the Group operates.
Due to the ethical importance of this topic, the Company promotes the culture and values of the correct application of tax regulations and organises training sessions for all of its employees.