Tax Policy
Daifuku Group Tax Policy
Article 1 Objective
Daifuku Co., Ltd. together with its subsidiaries (hereinafter collectively referred to as "the Group") shall fulfill its corporate social responsibility and contribute to economic and social development by paying taxes in a timely and appropriate manner in all countries and regions in which it operates. To this end, the Group Accounting Department must select and adopt accurate and appropriate tax procedures. To achieve the above objectives, this document sets out the Daifuku Group Tax Policy applicable to our Group. The relevant officers and employees shall comply with the following:
Article 2 Compliance with tax laws
The Group shall comply with the tax laws of all countries and regions in which it operates.
Article 3 Payment of taxes
The Group shall pay the taxes prescribed by laws and regulations by the fixed due date.
Article 4 Transfer price
The Group shall take arm's length prices into account and make appropriate profit distribution with regard to cross-border intra-Group transactions in accordance with the OECD Transfer Pricing Guidelines. In addition, transfer pricing documents shall be prepared in accordance with the tax laws and regulations of each country and submitted to the tax authorities if necessary.
Article 5 Elimination of double taxation
The Group shall seek to apply tax treaties and mutual agreements between the countries in which it operates to eliminate double taxation on the same economic interests in more than one country.
Article 6 Tax risk mitigation
The Group shall respond to changes in tax laws and practices in each country and seek advice from external tax advisors when tax risks are identified. The Group shall work collaboratively with the tax authorities of each country whenever possible to resolve disputes and to achieve prompt resolution. The Board of Directors shall be responsible for overseeing tax risks, and the Finance Officer shall be responsible for tax management.
Article 7 Tax haven
The Group shall not use tax havens for tax avoidance purposes.
Article 8 Relationship with tax authorities
The Group shall strive to build and maintain good relationships with local tax authorities. Upon request from the tax authorities, the Group shall provide timely responses to queries and information requests. The Group shall engage in constructive discussion with the tax authorities in cases in which the Group’s position may differ from that of the tax authorities. Measures shall be put in place to prevent recurrence of any matters identified by the tax authorities.
Article 9 Fostering awareness of tax compliance
The Group shall strive to maintain, improve, and firmly ensure awareness of tax compliance through tax training courses.
Article 10 Human resource development
The Group shall strive to maintain and train experienced and skilled tax accounting staff.
Article 11 Interpretation
Should any doubt arise in the interpretation of this policy, all parties involved shall adhere to the interpretation of the Finance Officer.
Article 12 Further information
- Revision or abolishment of this policy shall be drafted by the accounting general manager and approved by the Finance Officer.
- This policy shall take effect on April 1, 2024.
UK tax strategy
The Group will comply with the various tax laws, accounting standards, and internal rules of each country in which we operate in order to perform accounting procedures, pay appropriate and fair taxes, and contribute to the development of the country or region. Our tax strategy in the UK is shown in the PDF below.