Responsibility for tax governance
The Maersk Tax Principles have been approved by the Board of Directors and apply to all entities controlled by A.P. Moller - Maersk.
4.1. The Board of Directors of A.P. Moller - Maersk A/S approves general tax principles and exercises governance over corporate tax affairs through regular updates on our tax positions.
4.2. The Management Board approves the Maersk Tax Principles based on the recommendation of the A.P. Moller - Maersk CFO. The A.P. Moller - Maersk CFO is responsible for the formulation and implementation of the Maersk tax principles.
4.3. Tax Department
- Proposes Maersk tax principles and strategies for implementation to the Group CFO.
- Ensures that the framework for implementing the principles is in place.
- Monitors compliance with the tax principles as part of the tax risk management activity.
- Maintains a tax organisation with appropriately skilled staff and routines designed to support a high level of technical competence in managing Maersk's tax responsibilities.
4.4. The Brand CFO's are responsible for ensuring compliance with the principles in all companies within their respective organisations.