CSR

Tax strategy implementation report

Tax strategy implementation report

TORPOL S.A. pursues the management of tax issues in a manner aimed at ensuring proper assessment of the tax consequences of its operations from an economic and regulatory perspective (including in terms of tax law), taking into account the interpretation of legal regulations presented by tax authorities, administrative courts and judicature.

As part of the Company’s operational activities, key aspects of the Company’s operations are analysed in terms of their compliance with the Company’s Tax Strategy, the tax consequences of the actions taken, compliance with the applicable tax laws, as well as the internal procedures and processes in force at TORPOL S.A.

The above assumptions are directly reflected in the significant amount of taxes paid by the Company in Poland, in the due diligence of TORPOL S.A. in performing its obligations under the tax law and in strengthening the Company’s perception as a reliable Business Partner by clients, counterparties and the tax authorities.

The Company’s broad tax strategy is conservative in nature, providing the Company with the greatest possible tax security. As a result, the Company, in order to avoid disputes with tax authorities, identifies and fulfils its tax obligations concerning it under tax law with due diligence.

The tax policy of TORPOL S.A. does not assume or is not aimed at tax avoidance or evasion, and the transactions performed by TORPOL S.A. have a business justification and result from the business activity conducted by the Company. TORPOL S.A. does not use, within the scope of its business activities, the so-called aggressive tax optimisations, including in particular not structuring transactions in a manner which has no business justification, including through the use of jurisdictions of countries applying harmful tax competition.

Information on the fiscal strategy implemented by TORPOL S.A. in 2020 – file available for download (230 kB).