Tax Strategy
OCI complies with tax laws, faithfully performs tax reporting and payment obligations, evaluates and manages various tax risks, and implements transparent tax policies for sustainable growth, maximizing shareholder value, national fiscal soundness, and community development.
1. Faithful Compliance
OCI complies with the domestic tax laws and regulations of each country where it conducts business activities, faithfully fulfills tax reporting and payment obligations, and thoroughly documents and preserves relevant data and materials.
2. Transparent transfer pricing policy management
In case of transaction with its related parties, OCI complies with transfer pricing policies that conform to the arms length principles under the tax laws of the relevant countries and the OECDs Transfer Pricing Guidelines, and prepares and manages transfer pricing reports with outside tax experts.
3. Transactions in accordance with tax laws
OCI makes transparent and fair transactions through compliance with tax laws, and does not make transactions such as transferring income to tax havens or low tax jurisdictions for tax avoidance.
4. Implementation of tax cooperation obligations
OCI maintains a transparent relationship with each country's tax authorities, and fulfills the obligation to submit data transparently and faithfully in response to the tax authorities' requests for data submission.
5. Minimize tax risk
OCI monitors and reports expected tax risks to management in decision making, and if there is uncertainty in interpretation and application of laws in the process of evaluating and managing tax risks, it resolves tax risks in consultation with outside professional organizations.