a.s.r.’s tax policy contributes to its ambition to be a financially reliable and stable organisation with the aim of ensuring that both its short- and long-term commitments towards customers and other stakeholders can be met, thereby creating long-term value. In addition, the outcome of its tax policy is that as a member of society, a.s.r. contributes its fair share to enable and maintain that society. a.s.r. subscribes to the Tax Governance Code developed by the employers’ organisation VNO-NCW.
a.s.r. aims to be a socially responsible taxpayer based on professionally executed tax compliance. It does not apply any tax-aggressive positions. When optimising its tax planning, business considerations always take priority. a.s.r.'s tax policy is published on asrnl.com.
a.s.r.’s tax strategy has been approved and endorsed by the EB. The Audit & Risk Committee (A&RC) of the SB supervises the tax policies pursued in line with the Dutch Corporate Governance Code. The tax policy and tax risks are discussed annually in the A&RC.
Group Tax plays a central role in the tax function of a.s.r. and therefore has an important role in embedding the tax strategy in the organisation’s day-to-day operations. Group Tax is responsible for the establishment, maintenance and testing of the Tax Control Framework that is part of the broader Risk Management Framework, which in turn sets out the various processes, risks and existing control measures.
The EB and the Dutch Tax Authority have concluded the Horizontal Monitoring Covenant (Tax Control Framework). This sets out how a.s.r. and the tax authorities should engage with one another: with mutual trust and in an open, transparent manner. The Horizontal Monitoring has been further developed by the tax authorities into an Individual Monitoring Plan.
In some cases, it is desirable for a.s.r. to obtain certainty from the tax authorities in advance concerning the application of (often complex) tax legislation and regulations. In such cases, a.s.r. will ask the tax authorities for a prior tax ruling on a tax position which a.s.r. has adopted. With operations almost exclusively within the Netherlands, there are no international tax rulings applicable for a.s.r.