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Tax Policy
Basic Policy
All officers and employees of the NTT Group, whether in Japan or overseas, will not only comply with laws and regulations (including the purpose and background of their enactment), social standards, and internal company rules, they will also act with high ethical standards in both public and private life.
We strive to sustain and increase compliance by also maintaining tax-related operations guidelines and educating employees.
Governance Structure
NTT has established a basic policy of internal control systems for NTT Group to deal with various risks including tax risks which has been approved by NTT's board.
We define each company's roles in tax-related operations as follows.
Optimizing Tax costs
We work to appropriately and effectively use measures to lessen tax burden and more from the perspective of maximizing the NTT Group's shareholder value.
Furthermore, we do not pursue tax savings by way of interpretations or applications of laws, regulations, etc. that deviate from their intent.
Tax Risks
When undertaking international transactions, NTT and its consolidated subsidiaries should ensure such transactions are given due consideration in advance of execution. NTT and its consolidated subsidiaries should consult with tax advisors and seek advice as necessary.
Furthermore, we have laid out the following measures regarding transfer pricing taxation and controlled foreign companies rules.
Transfer Pricing Taxation
・Prices that are applied to NTT Group's international transactions will be calculated in accordance with the laws and regulations of each country or region and the Transfer Pricing Guidelines published by the OECD and also in accordance with the "arm's length principle."
・In cases where the documentation of the price calculation method is obligatory, or where such documentation is necessary due to factors such as transaction size and potential taxation risks, we will generate the documents in an appropriate manner.
Controlled Foreign Companies Rules
・NTT and its consolidated subsidiaries shall not use a low-tax country for tax avoidance. When investing in a low-tax country for business reasons, we will make appropriate tax payments in accordance with the laws and regulations of the relevant country or region.
Relationship with Tax Authorities
NTT Group aims to maintain good relationships with tax authorities through communication with them. All explanations given to tax authorities should be based on facts. NTT and its consolidated subsidiaries should work with them in a sincere and appropriate manner.
If tax authorities were to notify NTT and its consolidated subsidiaries of tax adjustments, NTT and its consolidated subsidiaries should determine the cause of such issue (s) immediately, and take appropriate measures to prevent similar recurrences, unless NTT and its consolidated subsidiaries file a petition of objection or tax lawsuit.
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| Unit | FY2022 | ||
|---|---|---|---|
| Revenues | Billions of yen | 135,451 | |
| Japan | 108,157 | ||
| U.S.A. | 6,632 | ||
| Germany | 2,410 | ||
| Spain | 1,563 | ||
| U. K. | 1,435 | ||
| Australia | 1,153 | ||
| Italy | 886 | ||
| Others | 13,215 | ||
| Profit before Income Tax | Billions of yen | 17,559 | |
| Japan | 18,002 | ||
| Others | -443 | ||
| Income Taxes Accrued-Current Year | Billions of yen | 4,947 | |
| Japan | 4,349 | ||
| U.S.A. | 204 | ||
| Others | 395 | ||
| Income Taxes Paid | Billions of yen | 7,760 | |
| Japan | 7,260 | ||
| Others | 500 | ||
The above amounts are based on "Country-by-Country Report" submitted to Japanese Tax Authorities, and not directly related to the Consolidated Financial Statements.
Governance
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