For the Zambon Group, tax risk management and all related work processes are of the utmost importance. This is to minimise the risk of working against the principles or purposes of the taxation system and to ensure a transparent approach as well as mutual collaboration with the Tax Authorities.
The Fiscal Policy defines the objectives and the approach adopted by Zambon to manage tax variables; it has been approved by the Board of Directors and made available to every stakeholder in compliance with company regulations.
Zambon S.p.A. has been admitted into the Cooperative Compliance Regime by the Italian Inland Revenue to guarantee that tax risks can be correctly identified and adequately monitored thanks to an approach based on a transversal analysis of any company procedures that may have an effect on taxation, with the aim of preventing and mitigating the risk of breaking any tax laws. The Tax Risk Management activities established to ensure that the Tax Control Framework is correctly implemented, are articulated in 4 main steps:
- Adoption of the Risk & Control Matrices;
- Drawing up of the Monitoring Plan;
- Tax Risk Assessment;
- Testing Activities.