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All directors and employees of NTT Group have declared their commitment to complying with all laws and regulations, social standards, and internal company rules, whether in Japan or overseas, and acting in accordance with the highest ethical standards in both private and public activities. In tax-related operations, we also strive to maintain and enhance tax compliance by setting up guidelines and educating our employees.
NTT has established the basic policy of internal control systems for NTT Group to deal with various risks including tax risks which has been approved by NTTís board. We define each companyís roles in tax-related operations as follows.
NTT and Company should strive to utilize appropriately and effectively the tax relief measures with a view to maximizing shareholder value of NTT Group. NTT and Company shall not implement any measures which may be considered or interpreted as tax evasion by the regulators.
When undertaking international transactions, NTT and Company should ensure such transactions are given due consideration in advance of execution. NTT and Company should consult with tax advisors and seek advice as necessary.
Furthermore, we have laid out the following measures regarding transfer pricing taxation and controlled foreign companies rules.
Transfer Pricing Taxation
Controlled Foreign Companies Rules
NTT Group aims to maintain good relationships with tax authorities through communication with them. All explanations given to tax authorities should be based on facts. NTT and Company should correspond with them in a sincere and appropriate manner. If tax authorities were to notify NTT and Company of tax adjustments, NTT and Company should determine the cause of such issue(s) immediately, and take appropriate measures to prevent similar recurrences happening unless NTT and Company file a petition of objection or tax lawsuit.
*The publication of this strategy statement is regarded as satisfying the duty under Paragraph 16(2), Schedule 19, Finance Act 2016 in UK.
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