Economic Contribution
In BESTSELLER, we are proud to contribute to the countries and regions in which we operate. We do this by means of tax payments and other economic contributions. We consider tax compliance and a responsible approach to tax an integrated part of our social responsibility towards societies in which we operate. Read on to learn more about BESTSELLER’s figures and policies.
Skilled work forces, effective infrastructure and opportunities presented by local communities around the world enable BESTSELLER to operate and grow our business. With a global presence, BESTSELLER recognises the reciprocal nature of these relationships and we consider tax contributions and responsible tax policies an inherent part of these relations.
A responsible business approach
In BESTSELLER, we regard ourselves as a dedicated member of the global community and we consider tax a business cost to be managed in a responsible and balanced way. Through our tax policy, we take a responsible approach to tax, managing and mitigating tax risks and complying with rules and regulations in the jurisdictions in which we operate.
We do not set up tax structures or artificial tax schemes that are intended for tax avoidance and that have no commercial or business substance. We follow the arm’s length principle and we adhere to the principles of the OECD regulations on transfer pricing.
Total tax contribution
Taxes are recognized in almost every aspect of our business. Each year the BESTSELLER Group discloses its Total Tax Contribution, aiming to provide an overview of our total economic contribution to public finances as generated during our financial year.
*It is important to note that the figures provided in this overview are not an economic model as the disclosed taxes are categorized as taxes borne and collected, which do not always align with economic incidences. The overview aims to disclose the BESTSELLER Group’s contribution to public finances
Include taxes and duties levied on producing, selling, or using goods and services, and comprise of Value Added Taxes (“VAT”), Goods and Service Tax (“GST”), and Sales taxes.
Includes all taxes and social contributions in relation to the employment of staff. The employee taxes cover the taxes collected by the BESTSELLER Group on behalf of the employees and which are withheld from employee wages and salaries.
Includes all taxes in relation to the companies’ profit and covers both taxes payable on tax settlements and tax assessments in the form of tax pre-payments. No tax provisions or accruals are included.
Includes all duties levied on goods imported and exported across international borders.
Includes among others council taxes, property taxes, lease taxes as well as other taxes which are not included in the above tax categories.
