L&T has operations in Finland and Sweden, and the Group complies with the tax laws of its operating countries in its tax reporting. The Group companies are committed to operating responsibly and fulfilling all obligations and requirements set out in legislation in the country they operate in.
All L&T companies pay their taxes on time, without delay. In tax-related matters, the Group operates within the framework of legislation and legal praxis when planning the taxable profits of its companies.
The management of tax-related matters is centralised in the Group’s financial organisation, which is responsible for the management and monitoring of tax affairs.
Decisions concerning taxation are made at Group level. The management of tax risks is part of the Group’s risk management process.
L&T is committed to reporting and disclosing its tax information in accordance with the valid legislation and the company’s own transparency objectives. L&T reports its tax footprint annually in connection with the Group’s financial review. The tax strategy and changes thereto are approved by the Group CFO.
