NN Group continues strong position in the Tax Transparency Benchmark
For the fourth consecutive year, NN Group (NN) is top scorer of the Dutch Tax Transparency Benchmark, with a score of 36 from a maximum of 40 points. Repsol is the winner of the EU Tax Transparency award, with a score of 38 out of 40 points.
For the first time the Dutch Association of Investors for Sustainable Development (VBDO) published a European edition of the benchmark, which ranks 103 EU (25) and Dutch (78) listed companies on the level of transparency they provide on tax and the quality of tax governance they demonstrate. Moreover, the role of tax in the environmental, social and governance (ESG) strategies of companies was an important element in the ranking.
According to the jury, NN was able to demonstrate that it proactively seeks to act in a responsible and transparent way regarding its taxation. The company continued its clear and very extensive tax strategy. Despite the new methodology and more stringent assessment, NN achieved a higher number of points than in 2021. The companies’ tax charter includes a tax control framework containing a detailed description of how the implementation and execution of the tax strategy is monitored. In addition, NN provides an extensive tax risks analysis and describes control factors per risk.
Annemiek van Melick, Chief Financial Officer of NN Group: ‘We are pleased with our strong position in the Tax Transparency Benchmark and our continued leading position in the Dutch benchmark. The external recognition reflects our clear commitment to tax transparency and being a responsible tax payer. We would like to congratulate Repsol with their first position. As always, we will use the benchmark results to identify areas for further improvement.’
Here you can read the full VBDO benchmark.