American Businesses for Clean Energy
Transparency and Openness in Tax
At ABCE, it is our purpose to improve corporate governance by improving openness and transparency. This commitment to openness and transparency runs across all boards and sectors, especially in tax. We have a tax policy that stipulates the appropriate course of action required to manage all task risk properly and adequately. Our task risk appetite is low, which is why our company does not engage in tax avoidance schemes or take aggressive tax positions.
Our commitment to openness is implemented through the complete avoidance of corporate structures that are shady or unoriginal. All our operations conform with an underlying business performance from the perspective of tax transparency. The commitment to tax transparency guides our compliance with all statutory tax duties in the territories we operate in.
ABC’s global tax framework and strategy are managed in line with the Groups Tax Governance Policy, which was approved by the board at the Group level. Any amendment to this policy goes through the checks of Audit, Risk and Committee of the group for their endorsement. After this, the board must approve such an amendment at a Group level before it comes into effect.
ABC’s relationship with tax and revenue authorities has always been transparent and productive. Evidence of this is in the voluntary disclosure of tax information published recently. In September 2011, ABCE signed up to Spain’s Code of Good Tax Practices to regulate its global operations.
The Code of Good Tax Practices was created by the Large Companies Forum in Spain and is promoted by the Spanish Tax Agency. This Code was established to promote the tax system’s application in Spain by improving legal certainty, reciprocal cooperation between the Tax Agency and companies. This relationship is based on good faith and legitimate trust as companies’ Board of Directors commit to responsible tax policies.
Our corporate governance is led by an experienced executive leadership team consisting of experts in various corporate governance fields. There is a managing director for energy and the managing director for infrastructure. The executive leadership team also consists of two sub-teams for energy and infrastructure.
Australia’s energy team consists of a general manager, markets & policy; a general manager, engineering & construction; a general manager, development; and a general manager, operations.
ABC’s projects are overseen by this executive leadership team, who supervise every phase of each project and ensure that optimum quality is delivered. This team also ensures that the company’s projects are in line with the company’s objectives, which mainly is to promote a safe environment with the use of sustainable options for energy, transport, and so on.
The infrastructure team consists of a chief operating officer, Australia and New Zealand; an executive general manager, construction; an executive general manager, Coleman rail; an executive general manager, John Beever Australia; and an executive general manager, Geotech.
Our tax transparency code is published on our website and is opened for public view.
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