For us at Inter IKEA Group, it is all about doing good business with common sense, based on honesty, respect, fairness and integrity. To support and ensure that all of us live up to these expectations, we have supplemented our values with the Inter IKEA Group code of conduct and our Policy House which includes the Inter IKEA Group policy on tax.
At Inter IKEA Group we have a Tax Control Framework (TCF) in place, in which our Inter IKEA Group policy on tax forms a key part of. The main objective of the TCF is to provide guidance to the co-workers in the management of tax issues. The TCF is a set of standards, policies, procedures, requirements and controls to ensure compliance with tax laws and regulations. It provides a systematic approach to identify, assess, and manage tax risks, as well as to monitor and report on tax-related activities. As part of this process Group Tax reports at least once a year to the Finance Committee on key tax issues.
In our organizational model, the local finance team of each company is responsible for managing compliance and tax monitoring at local level, supported by tax specialists. The Inter IKEA Group Management Board has delegated its responsibilities regarding business steering, finance, governance and legal to the Inter IKEA Group Finance Committee. The Finance Committee approves our policy on tax and monitors the implementation thereof and decides on key tax matters which could affect the overall tax position of the Inter IKEA Group.
