Tax Strategy
OCI Holdings and OCI comply with tax laws, faithfully perform tax reporting and payment obligations, evaluate and manage various tax risks, and implement transparent tax policies for sustainable growth, maximizing shareholder value, national fiscal soundness, and community development.
1. Faithful Compliance
OCI Holdings and OCI comply with the domestic tax laws and regulations of each country where they conduct business activities, faithfully fulfill tax reporting and payment obligations, and thoroughly document and preserve relevant data and materials.
2. Transparent transfer pricing policy management
In case of transaction with their related parties, OCI Holdings and OCI comply with transfer pricing policies that conform to the arms length principles under the tax laws of the relevant countries and the OECDs Transfer Pricing Guidelines, and prepare and manage transfer pricing reports with outside tax experts.
3. Transactions in accordance with tax laws
OCI Holdings and OCI make transparent and fair transactions through compliance with tax laws, and do not make transactions such as transferring income to tax havens or low tax jurisdictions for tax avoidance.
4. Implementation of tax cooperation obligations
OCI Holdings and OCI maintain a transparent relationship with each country's tax authorities, and fulfill the obligation to submit data transparently and faithfully in response to the tax authorities' request for data submission.
5. Minimize tax risk
OCI Holdings and OCI monitor and report expected tax risks to management in decision making, and if there is uncertainty in interpretation and application of laws in the process of evaluating and managing tax risks, they resolves tax risks in consultation with outside professional organizations.