Tax Compliance

TEPCO Group Tax Policy

In accordance with its Corporate Philosophy and Charter of Corporate Conduct, the TEPCO Group will fulfill its responsibilities to Fukushima while enhancing corporate value and contributing to the creation of a sustainable society.

The TEPCO Group believes that giving back a portion of the profits it has earned and contributing to the development of regional society in order to create a sustainable society through the appropriate payment of taxes in the nation and region in which it is doing business is an important social responsibility for any company.

In order to fulfill its social responsibilities, the TEPCO Group has created a Code of Conduct Related to the Corporate Ethics and Compliance Policies of the TEPCO Group, which gives details on conduct pertaining to corporate ethics by which directors and employees must abide. Through responsible and transparent tax administration based upon this code of conduct and the TEPCO Group Tax Policy, we shall strive to maintain and improve tax compliance.

1. Basic Policy

The TEPCO Group shall comply with all laws and regulations in the nations and regions in which it does business, engage in tax affairs with good faith, and properly file, pay, and report taxes.

2. Tax governance system

The accounting department shall create and employ in-house rules for appropriately carrying out accounting matters under the responsibility of the Chief Financial Officer (CFO) who is a director. If necessary, important tax issues shall be brought to the attention of the Board of Directors in an effort to engage in suitable tax governance. Furthermore, through regular in-house education and training, we shall heighten the understanding and awareness of tax compliance amongst each and every employee.

3. Addressing tax risks

In order to suitably fulfill our duty to file, pay, and report taxes, the advice of external experts shall be sought and efforts made to reduce tax risks if the potential for serious tax risks is foreseen.

4. Sharing appropriate tax burden

The TEPCO Group shall strive to leverage tax burden mitigation measures properly and shall not interpret/apply tax law in a manner that deviates from its intended meaning, nor intentionally avoid the payment of taxes for unsubstantiated purposes that do not match corporate objectives.

5. Relationship with tax authorities

The TEPCO Group shall interact with tax authorities in good faith and strive to maintain/build trust by filing/paying taxes and submitting tax information to tax authorities in a timely and appropriate manner.