TotalEnergies Publishes its First Tax Transparency Report

Source: www.gulfoilandgas.com 3/29/2022, Location: Europe

TotalEnergies is publishing a new tax transparency report designed to provide its stakeholders with a better understanding of the Company’s tax position, with detailed information on the taxes paid in its main countries of operation.

“TotalEnergies has developed a responsible tax approach, based on clear principles of conduct and rigorous governance rules. The Company believes that transparency is an essential factor in building a trust-based relationship with its stakeholders. This report is a further step in that direction,” declared Jean-Pierre Sbraire, Chief Financial Officer of TotalEnergies.

Already, since 2015, TotalEnergies has published in its Universal Registration Document an annual report covering the payments made by its extractive affiliates to governments and the full list of its consolidated entities, together with their countries of incorporation and operation.

With this new report, TotalEnergies is releasing detailed country-by-country information on its tax position and operations in the EU Member States and in the non-cooperative jurisdictions, two years ahead of the entry into force of the European directive mandating this publication. TotalEnergies is going a step further and publishing the same information for all the countries where it conducts extractive activities.

The report relates to the years 2019 and 2020. It will be updated every year.


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