Boskalis_CSR_report__2016

CSR 2016 – boskalis 57

staff, having been incorporated in the accompanying employee manual. Boskalis employees are provided with targeted information and are monitored with regard to regulations and legislation concerning bribery and corruption. Boskalis has a Whistleblower Policy in place that offers employees the possibility to report suspected misconduct within the company. These include any subject of a general, financial or operational nature which are not in line with the Code. A confidential independent counsellor has been appointed for the purposes of the Whistleblower Policy. The counsellor shall take the reported suspected misconduct immediately into consideration and gain information in relation thereto. Based on this information the counsellor shall decide which actions are appropriate and necessary, including a possible investigation on the reported misconduct. The employee who has in good faith reported the suspected misconduct to the counselor, in accordance with the Whistleblower Policy, shall not suffer any detriment as a consequence of this notification. Furthermore the principle that no bribes or other favors shall be offered, paid, requested or accepted for the purpose of acquiring or bestowing any improper business, financial or personal advantage has also been incorporated in the Supplier Code of Conduct, which is part of the contractual relationship between Boskalis and its suppliers. Suppliers are obliged to select their own suppliers in accordance with the Boskalis Supplier Code of Conduct. In many countries where Boskalis operates it is impossible to conduct activities without a local partner or sponsor. The guidelines for collaborating with such a partner are set out in a contract, which also specifically includes the principle from the Code as described above. Local contacts are maintained by an agent, who also assists in the efficient setting up and execution of projects. Control of integrity risks and compliance with the procedures for concluding agent contracts are part of the internal audits as well as being included by the external auditor in the audit of the financial statements. The Whistleblower Policy was reviewed at the beginning of 2016 and can be found on the corporate website.

Tax payments

We believe a coherent and responsible position on tax to be an important element of our CSR strategy. In this context, we have adopted the following tax principles.

Compliance

Boskalis follows the statutory regulations relating to tax payments. Over the last five years we have paid an average of around 15% tax in more than 50 tax jurisdictions around the world, including more than 30 jurisdictions classified as developing countries by the OECD. Compliance is monitored within a Tax Control Framework.

Business rationale

Tax follows business and profit is allocated to countries where value is created in accordance with domestic and international rules and standards as well as applying the arm’s length principle. Boskalis does not seek to avoid taxes through ‘artificial’ structures in tax haven jurisdictions.

Relationship with tax authorities

We seek an open and constructive dialogue with tax authorities on the basis of disclosure of relevant facts and circumstances. We aim to enhance clarity and upfront certainty around tax and have covenants in place with Dutch tax authorities.

Transparency

We are transparent in our approach to tax and our tax position. Disclosures are made in accordance with the relevant domestic regulations, as well as applicable reporting requirements and standards such as IFRS.