29 Nov 2019 - 13:07 CET
Top position NN Group in 2019 Tax Transparency Benchmark
NN Group is the top-scoring company in the fifth annual Tax Transparency Benchmark published by the Dutch association of investors for Sustainable Development (VBDO). The benchmark ranks 77 Dutch companies on the level of transparency they provide on tax and the quality of tax governance they demonstrate.
NN Group scored above average on all ‘good tax governance principles’ promoted by the VBDO. After consultation with an expert jury, NN was chosen as the winner. The jury praised NN for being able to demonstrate that it proactively seeks to act in a responsible and transparent way regarding its taxation. In addition, NN was complimented on its extensive tax strategy, description of why tax is an integral part of its business principles, and its Total Tax Contribution Report including country-by-country information.
With tax remaining an area of public and political scrutiny, the benchmark continues to play an important role in guiding companies in raising transparency on tax. The jury remarks that Dutch companies have made impressive results and progress in providing improved transparency and information on tax over the last five years. At the same time, the jury emphasizes that there remains room for improvement, especially in the areas of country-by-country reporting and tax assurance.
Delfin Rueda, Chief Financial Officer of NN Group: ‘We are very proud to be ranked first in this year’s benchmark, especially given the quality of the transparency efforts made by other participants. Tax is an area that continues to develop. We consider this award as an encouragement to keep working on further improvements.’
- Download the 2019 Tax Transparency Benchmark from the VBDO website here
- Read more on our tax strategy and principles: NN's approach to tax
Fltr: Nathalie van Toren (Corporate Citizenship), Jessica de Sitter - Liem (Group Tax), Peter Paul Boon (Head of Group Tax)