Tax Contribution

We recognise our duty to pay annual tax to the government based on our income. We have policies and procedures to guide our tax management, ensuring compliance with all applicable standards, laws and regulations in the countries where we operate. Our tax management strategy is aligned with our business strategy and based on sound commercial considerations.

Fraser & Neave Holdings Bhd (F&NHB) Group Tax Strategy

F&NHB has established principles governing our tax policies and related tax practices which have been the result of a longstanding F&NHB experience. These principles are annually reviewed and approved by the management of F&NHB. These tax policies and related tax practices allow F&NHB’s business to be conducted according to its core business plans and in accordance with the law.

The tax policies and related tax practices of F&NHB are set out as below:-

A. Tax Compliance

We act at all times in accordance with all applicable laws and relevant international standards and we aim to comply with all prevailing tax laws and regulations in the relevant countries in which we operate.

  1. Process Compliance
    We commit to act responsibly in relation to our tax affairs. We commit to be compliant in a timely and accurate manner to ensure compliance with all relevant legal disclosure requirements.
  2. Monitoring & Reporting
    We are committed to having in place appropriate internal and external tax monitoring and reporting.
B. Transfer Pricing

Our intragroup pricing is aimed at achieving a commercial market price. We have in place a transfer pricing documentation and benchmarking study for our intragroup transactions to ensure that all the prices and considerations are fairly and commercially allocated in comparable situations across the Group.

C. Tax Management

Our tax management is based on sound commercial rationale. The tax management strategy is aligned with business and commercial strategy and tax management opportunity are explored and evaluated within clear legal and risk parameters.

D. Relationship with Tax Authorities

We respect the rights of governments to determine their own tax structures, rates of tax and collection mechanisms. We ensure that full disclosure will be given to fulfill all regulatory requirements in all jurisdictions we operate in.

Tax Reporting YA2020

Note: F&NHB Group of companies enjoyed tax incentives as well as tax exempt dividend income.