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Penta-Ocean Construction Group Tax Policy

Management

The corporate vision of Penta-Ocean Construction Group (hereinafter POC Group) articulates our aspiration of becoming “A genuine global general contractor who practices sustainability management.” One of the core principles of sustainability management is maintaining integrity in our corporate activities. To that end, the “Penta-Ocean Construction Group Code of Conduct” covers issues such as “Compliance with laws and regulations” and “Appropriate accounting procedures and tax payment.”
In accordance with the above frameworks, and under the belief that fulfilling obligation through appropriate tax payment contributes to the economic growth and social development of each country and region, we have hereby established the “Penta- Ocean Construction Group Tax Policy”. The Policy serves as a guideline to comply with tax laws and regulations of every country and region in which we operate and to undertake initiatives towards maintenance and enhancement of tax risk management.

1. Tax Compliance

POC Group is committed to adhering to tax laws and regulations of every country and region in which we operate, as well as international rules such as Base Erosion and Profit Shifting (BEPS) Project and Transfer Pricing Guidelines established by the OECD. We strive to promote tax transparency while ensuring accurate reporting and tax payments. In addition, we endeavor to build and develop tax compliance awareness among all executive officers and employees across POC Group by providing regular and comprehensive training and e-learning opportunities.

2. Tax Governance

The tax governance of POC Group is managed by the Accounting Division under the guidance and supervision of the Head of the Corporate Administration Divisions Group, in close cooperation with other Group companies. The Head of the Corporate Administration Divisions Group reports material tax matters to the Board of Directors in a timely manner.

3. Managing Tax Risks

POC Group is committed to minimizing tax risks by conducting thorough risk assessments before engaging in any transactions that may pose potential tax issues. When necessary, we will engage external advisors to seek their advice.

4. Tax Cost Optimization

While ensuring compliance with tax laws and regulations in every country and region in which we operate, we will seek opportunities for tax cost optimization within the relevant statutory framework by utilizing preferential tax regimes and eliminating double taxation.

5. Relationships with Tax Authorities

POC Group is committed to building and maintaining healthy and good relationships with tax authorities by acting sincerely. This includes providing access to all relevant information in an appropriate and timely manner when requested by national and local tax authorities.
In the event of any differences in opinions with tax authorities, we strive to proactively engage in an open dialogue with them in order to ensure prompt resolution.


September 17, 2024

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