Latest transparency report details contributions in top 16 countries, representing 80% of payments
HOLCIM have today [21 July] published the second edition of their Tax Transparency Report as part of their ongoing commitment to the highest governance standards.
Holcim’s total economic contribution includes payments from procurement of CHF17.8 billion; employee expenses for salary, wages, and incentives of CHF3.8 billion; payments to shareholders, lenders, and investors of CHF1.9 billion; and payments to governments of CHF 1.9billion.
Holcim paid 89% of their taxes and other payments to governments where 90% of sales occurred. The report includes a detailed profile of contributions to governments in the company’s top 16 countries as well as data for each country where Holcim operate.
Chief executive officer Jan Jenisch said: ‘Sustainability is at the heart of our strategy, and finance is no exception. Being a responsible taxpayer wherever we operate strengthens our communities by funding essential services like education, health care, and transport.
‘This report shows our contribution to economic development, the role we play in society, and the rigour of our tax practices. Being transparent on all these aspects of our business is an essential part of building progress for people and the planet.’
The report includes a detailed overview of Holcim’s principles of tax governance, tax risks management, and tax advocacy across all countries. Holcim say their overall approach to tax is rooted in compliance, transparency, and commitment to sustainable economic development.
Holcim’s Tax Transparency Report 2021 is available here.