Tax Transparency

[GRI 207-1 (2019)] The Aboitiz Group (the “Group) believes in, and adheres to the fundamental principles of good governance in the Philippines.

We believe in paying the correct taxes on time and complying with all administrative and reportorial requirements. We recognize that transparent engagement with our stakeholders is critical to sustainability and the creation of long-term value of our business.

As a responsible corporate citizen living in the value of integrity, guided on tax matters by the Tax Committee chaired by the Group Chief Finance Officer, the Group commits to:

• Contribute our share to the country’s economic development efforts by paying the correct taxes on time;
• Create, implement, review, and enhance business processes to comply with applicable tax regulatory requirements efficiently;
• Adopt sustainable tax principles, philosophies, and best practices that are aligned with the overall Group’s goals and strategies;
• Engage with stakeholders with transparency and establish a cooperative relationship with tax authorities in jurisdictions where we operate; and
• Keep our business partners’ trust and confidence by operating with transparency and accountability.

We monitor and function as an added layer of security regarding the Group’s compliance with tax filings and payments as well as records retention and management. There are periodic discussions to ensure uniformity of best practices and positions across the group.

We continuously educate ourselves to keep up with tax, legal, and business developments in the industries and tax jurisdictions applicable to the Group’s portfolio. To ensure that the Group is updated and compliant with the new tax rules and regulations, we actively identify and address competency gaps, consistently advocate for continuous learning & development, review existing policies & controls, and consult our external advisors where appropriate. 

Policy Influence

[GRI 415-1 (2016)] The company abides by the applicable laws on lobbying interests in accordance with: Republic Act No. 1827 “An Act to Regulate Lobbying in the Congress of the Philippines and in the Commission on Appointments”, Republic Act 11232 “Act Providing for the Revised Corporation Code of the Philippines” and the Omnibus Election Code of the Philippines. 

The company prohibits the influence of any legislators or committees of Congress, to pass or defeat legislation that may be beneficial or in favor of the company, in exchange for money or property. The company in its conduct of business does not provide any monetary contributions for the following activities:

1. Political campaigns, ballots measures or referendums.
2. Political organizations whose role is to influence political campaigns or legislative activities
3. Policy Lobbying Groups.