113 Corporate Governance and Business Ethics Fostering Action on Climate Change Fostering Responsible Supply Chains Fostering an Inclusive Workplace Charting the Path to Sustainable Growth GRI Index Arise IIP | Sustainability Report 2023 mindful of environmental and social risks at the origin and communicate these to all stakeholders, such as manufacturers and tenants, requesting compliance with all ESG requirements. We also conduct third-party industry audits, post obtaining permission from stakeholders, to identify any gaps and collaboratively work on a risk mitigation plan. We proactively address the financial implications of climate change by integrating sustainability into our business strategy. By embracing adaptation strategies, investing in renewable energy, and prioritizing risk management, we aim to navigate challenges posed by climate change while seizing opportunities for growth and resilience. Tax Practices at Arise IIP Taxes are an important source of government revenue and play a crucial role in the fiscal policy and macroeconomic stability of countries. Our business supports and boosts local economies, and the taxes we pay reflect that our profitability depends on various external factors, such as access to workers, markets, public infrastructure and services, natural resources, and public administration. As a responsible company, we seek to comply with tax legislation and meet the expectations of good tax practices for our stakeholders. Our tax strategy is aligned with our corporate governance framework and our compliance and risk management framework. The group tax team regularly reviews the current tax and regulatory laws in different regions and adapts our tax strategy accordingly. Our tax strategy is aligned with the emerging trends in the businesses in which we operate. We discuss the tax strategy and overall tax governance and risk management framework with our internal stakeholders regularly. Tax incurred is an indicator of our economic performance, and therefore, we take cognizance of and calculate countryby-country tax. Compliance with countrywide tax regulations is a key priority for us in each jurisdiction where we operate. We seek to comply with tax filing, tax reporting, and tax payment obligations as per the laws of the respective countries. We also seek external tax advisor support on a need basis to comply with local country tax regulations. As we operate special economic zones in Gabon, Togo, Benin and Chad, we have been awarded tax benefits in these countries of operations as per applicable laws. These benefits include but are not limited to corporate tax and Value Added Tax (VAT) exemption for a given period as permitted by local laws. We adopt a responsible approach to the management of taxes, supporting the principles of transparency and constructive engagement with our stakeholders to deliver long-term sustainable value. We proactively govern tax matters as essential for our business operations, and our company-wide tax team periodically reviews our current tax positions as per applicable tax regulations. We take necessary steps to manage the tax risk for the company and engage with our business teams to identify any key business issues that may impact our taxes. Where there is significant uncertainty or complexity about risk, we seek external advice to comply with the relevant tax legislation and avoid potential risks. At Arise IIP, we maintain open and constructive relationships with tax authorities in the countries of our operations. Each of our operations files individual tax returns/filings according to statutory laws and engages proactively with the local tax authorities.
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