The Intesa Sanpaolo Group strictly complies with tax laws, convinced that this is a fundamental contribution towards the community where it operates. Intesa Sanpaolo's positive impact in this respect is confirmed by figures forecast in its Business Plan of a total contribution from 2014 to 2017 of approximately 10 billion euro, an amount comparable to a stability law.
Objectives for 2015 were met in full and in particular, all Departments of the Parent Company Tax Division were consolidated. Besides a specific Department for Tax Compliance monitoring being set up, all existing controls were consolidated and new specific controls introduced for international taxation and structured customer transactions (with training for business units most affected). Engagement with the tax authorities was stepped up considerably, to pave the way for the company to join the “cooperation scheme” (a tax authority scheme to help taxpayers identify tax risks).
In addition to indirect taxes of around 877 million euro, the Group recorded accrued direct taxes for 2016 of 1,422 million euro, mainly in Italy, where the majority of operating income was earned, as shown in the table below.
|Direct taxes in 2016||Italy||Europe||Rest of world|
In compliance with applicable laws, Intesa Sanpaolo publishes a “Country by Country” report, with the following information for each country (according to rules established by the Bank of Italy): the gross income; the number of employees; profit or loss before taxes; taxes on profit or loss. The report is available at [i].