Group Tax Policy
Dai-ichi Life has a Group Tax Policy that stipulates the core philosophies and implementation policies for tax with the approval of the board of directors. This policy sets out Dai-ichi Life's fundamental values for taxes, including compliance with tax laws and attitude towards prevention of tax avoidance, etc.
Group Tax Policy
1.Basic Tax Policy
The Dai-ichi Life Group (comprising Dai-ichi Life Holdings, Inc. and all its subsidiaries and affiliated companies) has always put our customers first. The Dai-ichi Life Group will continue to stand by the side of its customers and their loved ones, for life, and contribute to local communities by passing on peace of mind through the provision of life insurance and related services.
Based on the philosophy stated above, in order to discharge responsibility to its multi-stakeholders such as customers, shareholders, society and employees, the Dai-ichi Life Group shall satisfy corporate social responsibility and achieve sustainable growth and enhancement of corporate value over the mid- to long term through proper tax payments in all countries and regions of business.
2.Compliance with tax laws
The Dai-ichi Life Group complies with tax-related laws and regulations of each country and region, and standards published by international organizations such as OECD, and properly files, pays taxes and reports.
3.Establishment of system
The Dai-ichi Life Group satisfies proper tax responsibility and establishes tax governance system to contribute to the enhancement of corporate values with collaboration of the Dai-ichi Life Group entities around the world.
In order to penetrate and thoroughly enforce the tax governance, Executive Officers responsible for tax accurately acknowledge the situations and promotes establishment of the appropriate tax risk management system.
4.Building and maintaining relationships with tax authorities
The Dai-ichi Life Group builds and maintains good cooperative relationships with tax authorities in each country and region by providing them with the necessary information in a timely and appropriate manner and having constructive conversations with them through systems such as the advance inquiry.
5.Ensuring transparency
The Dai-ichi Life Group discloses tax-related information fairly, in a timely and appropriate manner.
6.Dealing with tax risk
The Dai-ichi Life Group manages tax risks by having due consideration in advance from tax perspectives, consulting professionals, and making advance inquiry to tax authorities.
7.Attitude towards prevention of tax avoidance
The Dai-ichi Life Group always reviews tax issues in line with purposes and actual conditions of business activities. The Dai-ichi Life Group does not interpret laws and regulations contrary to the purpose of the system, or carry out tax planning solely for purpose of reducing tax liability.
8.Appropriate transfer pricing
The Dai-ichi Life Group conducts fair transactions at prices calculated in accordance with the arm's length principle and manages transfer pricing documentation appropriately, based on OECD transfer pricing guidelines and tax-related laws and regulations applicable in each country.
9.Tax strategy / Enhancement of corporate value
The Dai-ichi Life Group has a good understanding of tax-related laws and regulations in each country and region by cooperating with tax representatives of the Dai-ichi Life Group entities around the world, and strives to manage tax costs through elimination of double taxation and utilization of appropriate tax incentives.
(Effective in April 2022)