The Company strives to ensure the current, timely and reliable performance of its obligations under the tax law. The Company implemented, among others, the following tax procedures:
In order to ensure correctness of tax settlements, the Company employs specialists within financial department (along with department Director) with appropriate qualifications and knowledge, responsible for the fulfillment of tax obligations, the necessary supervision over tax processes and cooperation with tax authorities and external advisors.
Moreover, to ensure that the knowledge of employees responsible for tax settlements is complete and up-to-date, the Company provides employees with access to tax knowledge, including participation in periodic internal and external tax trainings.
With regard to information on current changes in tax law and complex tax issues, the Company relies on the assistance of professional third-party tax advisors.
The Company uses IT systems that support the proper fulfillment of tax obligations, including the calculation of the correct amount of tax liabilities. IT systems are updated and serviced on an ongoing basis in order to maintain the security, correctness and continuity of data necessary to comply with tax law.
|ZUS (Social Security Institution)||Tax remitter / taxpayer|
|Real estate tax||Taxpayer|
Transactions with related parties in 2020 which value exceeded 5% of total assets are presented in the table below (details regarding each transaction are subject to enterprise secrecy):
|Provider||Recipient||Type of transaction|
|IFA Holding GmbH||The Company||Financial|
|IFA Holding GmbH, IFA GmbH & Co. KG||The Company||Financial|
In 2020 the Company did not perform any restructuring transactions that could significantly impact its tax obligations or tax obligations of any related parties. Further, the Company does not plan any restructuring transactions in the upcoming years.