TC Transcontinental Tax Strategy
By publishing this tax strategy, Transcontinental Inc., a Canadian corporation with direct and indirect subsidiaries located in Canada, the United States, Latin America and the United Kingdom (collectively, “TC Transcontinental”) is fulfilling its obligation under Schedule 19, paragraph 16(2) of the UK Finance Act 2016, outlining its commitment to transparency and compliance in tax matters.
Governance
Central to TC Transcontinental's tax strategy is a strong governance framework, ensuring effective oversight and optimal resource allocation across the organization. The Montreal Head Office tax team oversees centralized tax management, while local finance teams supervise day-to-day operations. Management is responsible for administering and governing tax risks and provides ongoing briefings to TC Transcontinental’s board of directors and audit committee.
Compliance and Risk Management
Compliance is fundamental to TC Transcontinental’s tax strategy. The organization is committed to complying with applicable tax laws globally, ensuring accurate and timely tax filings and settlements. External tax experts complement internal tax resources, while continuous training equips internal tax teams with the skills needed to meet their tax compliance responsibilities.
Tax Planning and Optimization
TC Transcontinental’s tax planning strategy is in line with its main objective of creating shareholder value. Prioritizing a low-risk approach, TC Transcontinental engages in tax planning only when it is commercially beneficial and consistent with its organizational goals. Opportunities for tax relief or incentives are pursued diligently, without resorting to artificial tax structures.
Dealings with Tax Authorities
TC Transcontinental values open and proactive communication with global tax authorities, promoting professionalism and facilitating timely dispute resolution to minimize uncertainty and effectively manage tax risks.
