Tax Policy
The overall aim of our Tax policy and our Code of Ethics is to reflect and support our business by ensuring a sustainable tax rate, mitigating tax risks in a timely and cost-efficient way and complying with rules and regulations in the jurisdictions in which Orbia operates. Any corporate and/or transaction structuring should be driven by economic and commercial substance. Our commitment is to be a good corporate citizen in which taxes are an important part of social responsibility.
Orbia is present in many countries and by its presence contributes to society through various taxes and charges such as corporate taxes, duties, payroll taxes and indirectly through VAT levied on the products sold to customers.
We firmly believe in contributing with our fair share of taxes in the countries in which we operate, this implies that our income is taxed in the country where the economic activities that generate them take place. Therefore, it is our commitment not to use aggressive structures intended for tax avoidance with no commercial or economic substance.
Similarly, Orbia Management and Board of Directors are committed not to migrate value from one country to another for the simple purpose of allocating income to jurisdictions considered to be of low taxation.
In principle, all transactions between Orbia companies should comply with the arm’s length principle as defined in the OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations and included in Article 9 of the OECD Model Tax Convention.
Compliance with OCDE´s Action 13 is required within Orbia Group in the applicable jurisdictions.
At Orbia we are aware of the importance that transparency in the payment of Corporate income taxes has in companies' long-term corporate value, therefore the Management is committed not to use countries considered as Tax Havens or Secrecy Jurisdictions with the aim of achieving opacity of financial information.