Tax Strategy and Payment Transparency
Importance and Mission
PTTEP has set tax strategy that shape the corporate tax policy of the Company and subsidiaries, to ensure transparency, legal compliance as well as alignment with good corporate governance and business ethics. PTTEP believes that transparency, legal compliance, and adherence to good governance and business ethics are the key towards sustainable development for the Company and all stakeholders.
Corporate Tax Strategy
PTTEP's tax strategy guide PTTEP Group's tax management towards transparency, legal compliance and adherence to best governance practices and business ethics. Details are outlined below. PTTEP Tax Strategy.
Remarks: PTTEP Tax Strategy approved by the Chief Executive Officer (CEO) representing the member of the Board of Directors as the Director and Secretary of the Board.Transparency
PTTEP adheres to governance best practices and business ethics, by ensuring that disclosed financial and non-financial data to shareholders and stakeholders is accurate and complete as required by applicable laws and contractual obligations imposed by the host countries of its operations.
PTTEP is committed to operating business with righteousness, transparency, and equitable treatment of all stakeholders who are assured of equitable benefits and protection under the Company's governance practices and business ethics. To ensure righteous revenue management, PTTEP fully supports the Extractive Industries Transparency Initiative (EITI). Created by a global coalition of governments and private companies, EITI promotes improved governance of extractive industries to ensure natural resources exploitation is truly for global population's benefits.
PTTEP supports EITI Principles that require extracting industries' public disclosure of revenue and expenses relating to their operations, to ensure that PTTEP's business activities generate added value and contribute to sustainable development in addressing stakeholders' energy needs.
PTTEP ensures that PTTEP pays fair share of taxes to authorities according to applicable laws of every country where PTTEP operates. PTTEP also does not have a policy to pay taxes to any authorities or any organizations which are not in accordance with applicable laws of the countries where PTTEP operates.
Additional information on revenue transparency, payments to government, contributions to associations is here: Economics Performance Data.