Holcim releases 2023 Tax Transparency Report

Part of Holcim’s ongoing commitment to the highest standards of governance, the report includes a detailed overview of the company’s approach to tax, principles of tax governance, tax risk management and tax advocacy in all countries where we operate.

Holcim’s total economic contribution includes payments to suppliers of CHF19.8 billion, employee expenses for salary, wages and incentives of CHF4.1 billion, payments to shareholders, lenders and investors of CHF2.1 billion, and payments to governments of CHF1.6 billion.

Holcim paid 85% of its taxes and other payments to governments where 90% of sales occurred. The report includes a detailed profile of contributions to governments in the company’s Top 20 countries by revenue as well as data for each country where Holcim operates.

Miljan Gutovic, CEO: “At Holcim sustainability is at the core of our strategy, and tax transparency is too – since a responsible approach is directly linked to our positive impact on people and planet.

“Being a responsible taxpayer, we understand the vital role that taxes play in supporting the functioning of governments and societies. Taxes are the bedrock upon which essential public services and infrastructure are built, from education and healthcare to transportation and security. As such, we recognise the importance of contributing our fair share and strive to do so with the utmost integrity.”

Steffen Kindler, CFO: “As a responsible corporate citizen, we recognise the significance of our economic and tax contributions and the impact they have on the communities we serve.”

Read the article online at: https://www.worldcement.com/europe-cis/02072024/holcim-releases-2023-tax-transparency-report/