We operate aiming at the excellence of the service provided to our customers, creating value for the shareholder and the communities, in respect of those who work for the Group and the principles established by our Ethics Code. The Group's industrial and financial strategies are oriented to the pursuit of these values, as well as the resulting operational conduct, inspired by the quality, convenience and innovation of the products and services offered. Our group working all over in world (the mother company is in Italy and one company is in United Kingdom - the publication of our tax strategy statement is regarded as complying with Part 2 of Schedule 19 of the 2016 Finance Act) is ensuring that we pay the right amount of tax, in the right place, at the right time in order to grant our commitment to conduct a responsible business. Our strategy, referred to 2019, has not be changed in comparison with the previous year.
Our Tax policy comprises five key components:
- Commitment to compliance – we are committed to compliance with tax law in every country in which the group operates (our mother company is in Italy and United Kingdom is one of them). Compliance for us is meaning paying the right amount of taxes in the right place and in the right time.
- Responsible attitude to arranging our tax affairs – in our relation with customers and supplier, we do not put in place any arrangement that are contrived or artificial
- Effective risk Management – the Group is equipped with an effective internal control and risk management system, in which the correct definition of tasks and responsibilities, the separation of roles with a consistent set of operational delegations, are particularly important. Traceability of acts and operations, reliability of financial information, compliance with laws, regulations and internal procedures. Where there is significant uncertainty or complexity in relation to risk, external advice is required
- Constructive approach to engaging tax authorities – We engage tax authority in the country in which the group operates (and in particular with HMRC in the United Kingdom with our subsidiary TI Sparkle UK limited) with honesty, integrity, respect and fairness in a spirit of cooperation. In case of queries or areas of judgement, we try to resolve the matter through active and transparent discussion.
- Board ownership and oversight – the tax policy is aligned with our Ethics Code approved by the Board and accepted by our customers and suppliers
Our reputation is the basis of our success