Cathay FHC established its Tax Governance Policy with the Board of Directors as the highest-level decision-maker for tax risk management mechanisms to effectively control tax risks. The Tax Management Unit is the accounting department within the Finance Division and is responsible for delivering reports to the Risk Management Division on a regular basis. The Risk Management Division is responsible for delivering reports on tax governance matters to the Board of Directors on an annual basis to ensure effective operation of the tax management mechanism.
Cathay FHC paid a total of NT$13.2 billion in taxes worldwide in 2020; major tax categories included corporate income tax, undistributed profits tax, business tax, and house and land tax. The amount of taxes paid in Taiwan account for 82% of taxes paid worldwide due to the fact that Taiwan is our main country of operation.
For more detailed information: Cathay Financial Holdings Tax Governance Report 2020