Sustainable business

Sustainable taxpayer

a.s.r. sets great store by sustainability. Its fiscal policy contributes to the realisation of the corporate strategy, in which a.s.r. presents itself as a sustainable insurer that is aware of its environment. The starting point for its fiscal actions is that a.s.r., as a member of society, contributes its fair share in order to empower and maintain the very society it is part of.

Tax strategy
a.s.r. aims to be a socially responsible taxpayer based on professionally implemented fiscal compliance. a.s.r. does not adopt any fiscally aggressive positions. In fiscal planning, arm’s length considerations are always leading.
The fiscal strategy has been adopted by the Executive Board. In compliance with the Dutch Corporate Governance Code, the Audit Committee supervises the fiscal policy pursued.

Objectives 
Given its fiscal strategy, a.s.r. has the following objectives:

  • a.s.r. ensures the timely payment of tax debts.
  • a.s.r. will present to the Tax Administration the (fiscal) positions it has taken or will take as soon as possible, and actively allow the Tax Administration insight into all the relevant facts and circumstances, the positions taken and its views on their possible consequences.
  • a.s.r. manages the fiscal risks proactively.
  • a.s.r. does not have any products that facilitate customers in evading or avoiding taxes.
  • a.s.r. optimises its fiscal position, thus, within the given framework, limiting the tax burden. a.s.r. only supports transactions or products that have a well-documented corporate objective. a.s.r.’s position is that it acts in accordance with the spirit of the law and that no tax havens are used.

The Fiscal Affairs department has a central role in a.s.r.’s fiscal function, and therefore an important role in embedding the fiscal strategy in the organisation’s day-to-day activities. The Fiscal Affairs department periodically reports to a.s.r.’s management on fiscal matters and risks.

Horizontal Monitoring covenant 
In January 2013, the Executive Board of a.s.r. and the Dutch Tax and Customs Administration signed the Horizontal Monitoring covenant. This covenant sets out how a.s.r. and the Tax Administration engage with one another: with mutual trust and in an open, transparent manner. By signing this covenant, a.s.r. undertakes to develop and maintain a system of internal and external controls.