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INFORMATION ON THE IMPLEMENTED TAX STRATEGY FOR THE TAX YEAR 2020

29 DECEMBER 2021

 

INFORMATION ON THE IMPLEMENTED TAX STRATEGY FOR THE TAX YEAR 2020

 

This document constitutes the implementation by Sarantis Polska S.A. with its registered office in Piaseczno (hereinafter: the "Company") of the obligation resulting from Article 27c of the Corporate Income Tax Act of 15 February 1992 (Journal of Laws of 2020, item 1406, consolidated text, as amended, hereinafter: "CIT") for the tax year lasting from 1 January 2020 to 31 December 2020.

 

Sarantis Polska S.A. is a part of the Sarantis Group, predominantly engaged in the production and distribution of cosmetic products and household goods.

As part of an international group, the Company adheres to and acts in accordance with the rules, code of conduct and policies of the Sarantis Group.

 

The Company's tax strategy consists in:

  • fulfilling all legal requirements and submitting all relevant tax returns and making all tax payments, in accordance with the law in force in Poland;
  • seeking to use available tax relief and incentives in a manner consistent with public policy objectives;
  • complying with appropriate processes related to tax risk management and ensuring the Supervision of the Management Board over compliance with these processes.

 

One of the priorities of the Company's operation is to treat tax settlements as key issues in the field of corporate liability. The Company's activities in this area are carried out with due diligence by employees with high substantive qualifications.

Taking into account the scale of activity and the size of tax liabilities of Sarantis Polska S.A., from time to time there may be risks related to the interpretation of tax law due to their complicated nature. The Company actively identifies, evaluates, monitors and manages these risks to ensure that compliance with tax obligations is in line with the Company's objectives. The tax risk management processes in the Company are adapted to the procedures and control policies in force throughout the Sarantis Group and are aimed at fulfilling all tax obligations resulting from the provisions of tax law within the meaning of Article 3 point 2 of the Tax Ordinance. If tax risk is identified, the Company takes measures to reduce this risk, which ensures the application of risk management procedures and dialogue with Polish tax authorities.

Guided by the content and requirements indicated in Article 27c(2) of the Corporate Income Tax Act (Journal of Laws of 2020, item 1406), the Company would like to submit the following statements:

  1. Information on the processes and procedures used by the Company regarding the management of the performance of obligations arising from the provisions of tax law and ensuring their proper performance.

The Company has appropriate procedures and processes enabling the management of the performance of tax obligations – in particular the procedure for preventing non-compliance with the obligation to provide information on tax schemes.

  1. Information on the voluntary forms of cooperation with the authorities of the National Tax Administration used by the Company.

 

The Company did not participate in any of the voluntary forms of cooperation with the authorities of the National Tax Administration.

Regardless of this, the Company cooperates with tax authorities in a transparent and reliable manner, providing all required information and explanations in the field of tax settlements.

 

  1. Information on the company's implementation of tax obligations on the territory of the Republic of Poland, together with information on the number of information provided to the Head of the National Tax Administration on tax schemes referred to in Article 86a § 1 point 10 of the Tax Ordinance, divided into taxes to which they relate.

 

The Company timely and with due diligence fulfilled tax obligations on the territory of the Republic of Poland, which result from applicable law. At the same time, the Company did not provide the Head of the National Tax Administration with any information about tax schemes, due to the lack of tax schemes that would require such notification.

 

  1. Information on transactions with related parties within the meaning of Article 11a(1)(4) of cit, the value of which exceeds 5% of the balance sheet total of assets within the meaning of the accounting regulations, determined on the basis of the last approved financial statements of the Company, including entities that are not tax residents of the Republic of Poland.

The Company was involved in transactions with related parties consisting in the purchase of goods and the granting of loans, the value of which exceeded 5% of the balance sheet total of assets within the meaning of accounting regulations, determined on the basis of the last approved financial statements.

  1. Restructuring activities planned or undertaken by the Company that may have an impact on the amount of tax liabilities of the taxpayer or related entities.

 

The Company did not conduct and did not plan to carry out restructuring activities that could affect the amount of its tax liabilities or tax liabilities of related entities.

  1. Information on applications submitted by the Company for a general tax ruling.

 

The Company has not submitted applications for a general tax interpretation referred to in Article 14a § 1 of the Tax Ordinance.

  1. Information on applications submitted by the Company for interpretations of tax law.

 

In 2020, the Company did not submit applications for an interpretation of tax law provisions referred to in Article 14b of the Tax Ordinance.

 

  1. Information on applications submitted by the Company for the issuance of binding rate information.

In 2020, the Company did not submit applications for the issuance of binding rate information referred to in Article 42a of the Act of 11 March 2004 on the tax on goods and services (Journal of Laws of 2020, item 106, consolidated text as amended).

  1. Information on applications submitted by the Company for the issuance of binding excise information.

 

In 2020, the Company did not submit applications for the issuance of binding excise information referred to in Article 7d(1) of the Act of 6 December 2008 on excise duty (Journal of Laws of 2020, item 722, text as amended).

 

  1. Information on the Company's tax settlements in territories or countries applying harmful tax competition.

 

The Company did not make tax settlements in territories or countries applying harmful tax competition indicated in the implementing acts issued on the basis of Article 11 j paragraph 2 cit and on the basis of Article 23v paragraph 2 of the Act of 26 July 1991 on personal income tax (Journal of Laws of 2020, item 1426, one text as amended) and in the announcement of the minister competent for public finances issued on the basis of Article 86a § 10 of the Tax Ordinance.

 

The information contained in this document has been published respecting the information covered by the Company's commercial, industrial and professional secrets.

INFORMATION ON THE IMPLEMENTED TAX STRATEGY FOR THE TAX YEAR 2020 (186.7KB)

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