INDICATOR: 11.21.6
Stakeholder engagement and management of concerns related to tax
A description of the approach to stakeholder engagement and management of stakeholder concerns related to tax, including:
i. the approach to engagement with tax authorities;
ii. the approach to public policy advocacy on tax;
ii. the processes for collecting and considering the views and concerns of stakeholders, including external stakeholders.
i. Regular and Interim audits are performed from the relevant authorities for tax & customs issues confirming compliance with the existing framework.
The tax framework and practices in Greece, which determine the tax base for the transactions of the Group’s main entities, may result in inherent uncertainties, due to its complexity and it being subject to changes and alternative interpretation by relevant authorities at different points in time and across different entities. Where a tax audit results in a different assessment to the one adopted by the Group entity, and for which the Group after consideration, disagrees with, the process for resolving the issue is usually through a court of law proceeding, which has many stages and can take a considerable number of years to reach its final and irrevocable ruling.
ii.Pending litigations are evaluated regularly by the relevant legal advisers and are assessed on a quarterly basis as per legal advice provided.
It is conducted with the intention of being in full compliance with all relative legislation and in line with internal tax and customs policies, to support global operations and commercial activity. We strive to be efficient with our tax affairs and whilst we make use of available reliefs and allowances, our primary focus is on ensuring compliance with all relevant tax laws and practices.
The Senior Group’s Tax & Customs Director, actively participates in relevant bodies, in order to be on a timely basis informed about any change in the relevant framework and provide suggestions in the context of public advocacy of new laws.
More specifically:
- Hellenic Petroleum Marketing Companies Association (ΣΕΕΠΕ) – Coordinator of the Supply & Customs Committee.
- Hellenic Federation of Enterprises (ΣΕΒ) – Member of the Taxation Committee
- American Hellenic Chamber of Commerce – Member of the Taxation Committee
- International Fiscal Association (IFA) – Member
- Consultation Committee of the Hellenic Accounting and Auditing Standards Oversight Board (ΕΛΤΕ) – Member
iii. There are both internal and external processes that enable stakeholders to participate in this engagement.
Internally, the GT&CD provides expert opinions and guidelines within the Group, in all entities and jurisdictions, also tax clearance from tax and/or customs perspective acting as tax & customs internal consultant, ensuring proper guidelines are provided keeping updated all stakeholders on a timely basis, ensuring tax awareness within the Group.