Progress 2020: Responsible tax
A.P. Moller - Maersk wants to be a compliant and accountable tax payer with responsible and transparent tax practices.
This includes ensuring full compliance with tax regulations in all countries where we operate, and to continue to engage in dialogue with stakeholders on tax matters.
We operate under different tax regimes, notably our shipping activities are taxed under the tonnage tax regime, which means that we are taxed based on our available tonnage and not our profit. As our business grows on land, more of our income will be taxed according to regular corporate tax rules based on profit.
We have activities in a number of countries included in the EU list of noncooperative tax authorities. Every year, we disclose profits and taxes paid in each of these countries in our sustainability report.
We also disclose full country by country reporting to the Danish tax authorities in accordance with our legal obligations.
Read about our 2020 performance and activities on page 41 in the 2020 Sustainability Report.