The Topy Industries Group complies with laws and regulations and their spirit as well as the Group Code of Conduct in all corporate activities based on Group Basic Philosophy.
Regarding taxation, it is necessary to ensure tax transparency for various stakeholders, and we have set out basic ideas below.
The Topy Industries Group understands the tax laws of the countries in which it operates and the legislative purpose and background of the international standards established by the OECD, and complies with them.
The Topy Industries Group considers the arm's length price for transactions between overseas affiliated companies, distributes profits according to the functions and risks borne by each group company and the assets held, and aims to transfer profits to countries with low tax rates. We will not set a transfer price for the purpose of transiferring profits to low-tax countries.
The Topy Industries Group will not engage in excessive tax planning or tax avoidance using tax havens that are considered tax avoidance without the actual business.
Tax governance of the Topy Industries Group is executed under the responsibility of Topy Industries' director in charge of finance, and is delegated to a certain extent to the tax departments of each group company.
The Topy Industries Group will establish a system for sharing information throughout the Group and appropriately manage tax operations.
Finance and Accounting Department of the head office will strive to manage tax risks by creating an environment in which there is sufficient cooperation within the group.
The Topy Industries Group will respond in good faith to requests for information disclosure, etc. from the tax authorities of each country, build good and sound relationships, and will not provide unfair profits. In addition, we will take measures to prevent recurrence and strive to correct matters that have been instructed by the tax authorities.
If the same economic profit is subject to double taxation in multiple countries or regions, the Topy Industries Group will endeavor to eliminate it by applying tax treaties or mutual agreements between countries.
The Topy Industries Group will endeavor to pay taxes appropriately by understanding and utilizing the purpose and content of legislation such as preferential tax systems established by each country and region.
