The Calzedonia Group is committed to paying all taxes owed in the various countries in which it operates, in a way that is transparent and collaborative with the relevant tax authorities.
For this purpose, where possible, Calzedonia seeks to establish a cooperative relationship with the tax authorities of various countries, based on transparency, mutual respect and good faith.
If it encounters any difficulty in interpreting applicable laws, the Calzedonia Group makes, when possible, advance requests for clarification or agreements that are addressed directly to the relevant authorities. In the event of divergent interpretations with the tax authorities of a given country, the Calzedonia Group will preferably use tools that make it possible to settle disputes out of court.
As of today, the Group has not had any significant tax issues.
Calzedonia is a vertically-integrated company that handles all production phases and sales of its products directly. Because the Group's activities take place in more than 50 countries, one of the most important tax problems it faces is transfer pricing. The Calzedonia Group follows the instructions found in the OECD Guidelines. In 2015, it launched a preliminary agreement program relating to transfer pricing with the tax authorities in the countries that potentially pose the greatest risk, in order to minimize the fiscal risks linked to the determination of intra-group prices.
The Group's corporate structure is transparent. There are no companies registered in tax havens. There are no confidential agreements (individual rulings) that provide for preferential tax treatment.
In 2020, the Group's activities resulted in a tax contribution of 171 mio (VAT excluded) in the countries in which the Group operates. This amount includes direct and indirect taxes, contributions to social security and consumption taxes.
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