Compliance and Integrity
Policies and Basic Approach
Basic Approach to Tax
One of the guiding principles of the Mitsui & Co. group is to comply with all applicable laws and regulations in operating countries and to act with integrity and the highest ethical standards. In the same way, we will strive to maintain and improve tax compliance in accordance with national and regional tax laws and regulations as well as standards published by international organizations, and will fulfill our corporate social responsibility by paying appropriate taxes.
We are committed to complying with our tax obligations and simultaneously managing our global tax costs in all operating countries. We publish the "Global Tax Management Basic Policy" as a basic policy for taxation of the entire group after reporting it to the Management Committee and the Board of Directors.
Global Tax Management Policy
We shall manage our taxes with high integrity and ethical values based on the following princeples.
- Tax compliance
We are committed to complying with all applicable laws, rules and regulations, and to following the spirit of the law in meeting our tax obligations in an appropriate and fair manner, including the engagement in open and constructive relationships with tax authorities, in our operational countries.
- Tax management strategy
We are committed to continuously striving for effective tax cost management on a global group basis, such as the elimination of double taxation. However, we do not engage in artificial tax arrangements or structures as stated below:
- Arrangements or structures without reasonable business purpose or commercial rationale other than the intention of tax avoidance.
- Arrangements or structures which inappropriately erode the tax basis, or shift the attribution of profits from a state based on economic activities and value creation to a state in which to achieve tax avoidance.
Published February 2017
Mitsui & Co., Ltd.
Sustainability Governance and Oversight
Tax Governance Structure
The Chief Financial Officer (CFO) promulgates and instructs the corporate policies for the appropriate tax compliance and the tax management strategy, and oversees execution of them.
The Global Controller and the Global Controller Division of the Head Office, under the general direction of the CFO, collaborate with the relevant accounting departments and conduct taxation duties under the following structure. In addition, where significant tax matters or risks are identified, the Global Controller notifies the CFO, the Management Committee and the Board of Directors in a timely and appropriate manner.
|Officer in charge||Takakazu Uchida (Representative Director, Executive Vice President, Chief Financial Officer)|
|Promoting division||Global Controller Div.|