Tax Strategy Statement
VENTORA Group (VENTORA) is a group of companies in the business of developing, manufacturing and distributing a wide range of windows, doors, shower screens, wardrobes, splashbacks and related building products. VENTORA operates in a number of countries within the Austral-Asia region and in Hawaii, employing over 4,000 employees across the group.
Our Tax Principles
Our corporate values define our culture and serve as guideposts for our daily actions. Chief among our values are building businesses ethically and safely, delivering on our promises, and improving every day. Securing and maintaining the trust of all our stakeholders, including tax authorities, is central to living these values. Consistent with these values, we aim to create long-term sustainable growth and to be a responsible taxpayer.
Our guiding principles for tax are:
- to comply with all applicable tax laws and regulations in all tax jurisdictions where VENTORA has an operation;
- to use available tax reliefs in the way that they are intended;
- to adopt an open, honest and professional approach in our dealings with tax authorities; and
- to work collaboratively with tax authorities to resolve any areas of disagreement while ensuring we
- defend our tax treatment where we consider it is correct in law.
Scope of our Tax Strategy
VENTORA pays a range of taxes including corporate income taxes, stamp duties, withholding taxes, employment and other taxes. We also collect and pay employee taxes as well as indirect taxes such as Goods & Services Tax (GST), Sales & Services Tax (SST), and excise duties. For the purposes of the VENTORA tax strategy, tax is defined as all forms of direct or indirect tax charges or levies. This tax strategy applies to all VENTORA entities within the Austral-Asia region and in Hawaii as well as all employees whose actions or responsibilities impact the management of tax within the VENTORA Group.
Tax Governance Framework
The VENTORA Group Chief Executive Officer (CEO) and Chief Financial Officer (CFO) are responsible for the development and implementation, including oversight, of the tax strategy. The CEO and/or CFO delegate(s) the implementation of the tax strategy to the Group Financial Controller and Compliance & Taxation Manager, supported by tax and finance professionals as appropriate. The tax strategy is reviewed on a regular basis and any significant changes are approved by the CEO and CFO. In addition, any material tax issues, disputes, or litigation regarding VENTORA Group’s tax positions in any jurisdiction in which we operate are reported to the CEO and CFO as they arise, which include details and action plans.
Tax Risk Management
We are committed to complying with tax law and regulations in all tax jurisdictions where VENTORA has an operation. As such, we have established tax compliance procedures throughout all our operations. The VENTORA tax and finance teams regularly assess any tax risks, including those reported by operations. Material issues, disputes, or litigation are notified to the CEO and CFO as they arise.
We will engage in tax planning only to directly support our commercial activities. Thus, any tax planning undertaken will have commercial and economic substance and will have regard to the VENTORA Group’s wider vision and strategy. We will seek to minimize uncertainty, risks or disputes and we will engage external advisors as appropriate to achieve this. As such, our appetite for risk is low in this regard. We do aim to make use of those tax incentives and exemptions intentionally provided in law.
Relationship with Tax Authorities
We engage with all tax authorities with honesty, integrity and transparency in respect of all tax matters. We will work collaboratively with the tax authorities wherever possible to resolve disputes or where there is uncertainty in the interpretation of tax laws.
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