Rotary’s Tax Policy Statement
Rotary Group is committed to managing our taxes in a sustainable manner with regard to the
commercial and economic needs of our business and stakeholders.
Compliance with Tax Laws
We respect the intent of the relevant laws and regulations and are committed to a high standard of
compliance with the laws, regulations and requirements in all countries in which we operate and do
business, including the relevant tax laws and regulations. Taxes will be managed with the objective that
all tax liabilities properly due under the law are correctly recorded, accounted for and paid on a timely
basis. We commit to updating our policies and procedures when necessary to reflect changes in
relevant tax laws and regulations, business activities and landscapes. We do not enter into tax planning
where financial benefit is tax related and we do not engage in artificial tax arrangements or tax haven
jurisdictions, lacking business purposes, to create a contrived tax result. We have no tolerance for tax
evasion and tax fraud. We will only engage in responsible tax planning aligned based on genuine
commercial activities of the group.
Governance Structure for Managing Tax Risks
We have a risk governance structure in place which provides details on the roles and responsibilities
for the Board of Directors (“Board”) and management in risk monitoring, escalation, mitigation, and
reporting:
• The Board has overall responsibility for governance of risks including tax risk, and oversees
management in the design, implementation and monitoring of the risk management and internal
control systems; and
• The Chief Financial Officer (“CFO”), supported by the Group Tax Department and Finance
Departments, is responsible for management of the financial risks, including tax risks; and the
oversight of day-to-day management of tax compliance, planning and risk monitoring. The CFO
also updates the Board, where appropriate, of key tax issues that may give rise to substantial
tax exposure or affect the Company’s reputation.
We maintain a sound system of risk management and internal controls to identify, assess and manage
tax risks and ensure accurate reporting.
External advisors will be sought where appropriate to assist with the compliance process and/or to seek
advice on complex issues.
We have formalised a tax governance policy which documents our tax strategy, governance structure
for managing tax risks and approach to tax risk management. The policy is reviewed periodically or
when necessary (e.g., whenever there are significant changes to the Company’s business strategies or
tax risk environment). The CFO is responsible for overseeing the review and recommending appropriate
changes to the Board for review, alongside the support of the Group Tax Department. Changes to the
Policy will be approved by the Board.
Relationship with Tax Authorities
We are committed to collaborative and transparent relationships with the relevant tax authorities in the
jurisdictions that we operate in. Where appropriate, we will seek clarifications from tax authorities on
material transactions or interpretation of tax laws relevant to our business.