Panasonic Group Tax Policy

Attitude toward Tax Payment

The Panasonic Group contributes to the development of society and the resolution of issues through its business activities, and by doing so, we set clear tax policies which align with our business purpose and practices and strive to pay taxes accordingly in jurisdictions where we do business.

We conduct our business activities by steadfast adherence to Panasonic’s Basic Business Philosophy, which serves as the foundation for all our business practices, and which remains unchanged, regardless of changes in the times, or nature or scale of our businesses. Our compliance with laws, regulations, and corporate ethics is fundamental to the existence and success of the company and is a core responsibility for our management.

The Panasonic Group will contribute to the betterment of society by paying its fair share of taxes in communities where we operate and in accordance with the tax laws of each country and other tax guidelines published by international organizations such as the OECD.

Basic Policies on Tax Compliance

The Panasonic Group will seek to act in accordance with the following policy regarding tax compliance, as well as complying with our Basic Business Philosophy and the Panasonic Group Code of Ethics and Compliance.

  1. Understand and comply with tax laws and related regulations relating to the Panasonic Group's corporate activities.
  2. Prohibit engagement in tax avoidance through organizational forms or transactions that do not have a business purpose or substance.
  3. Develop trust and mutual understanding with the tax authorities of each country where we do business and strive to resolve tax issues promptly and fairly.

Establishment of a Tax Governance Structure

The Panasonic Group will continue its efforts to enhance tax governance by making investments in developing and strengthening our internal resources to provide proper tax oversight and management and to develop a tax consultation system to increase tax transparency and awareness of tax compliance at each company or business level.

December 2022