The Kyocera Compliance Statement specifies that Kyocera Group shall comply with the laws and regulations, including tax laws, of the related countries. Accordingly, we have established a Tax Policy as part of our efforts to ensure that all applicable taxes are paid appropriately.
We at Kyocera Group, who have the Management Rationale "to provide opportunities for the material and intellectual growth of all our employees, and through our joint efforts, contribute to the advancement of society and humankind", fulfill our social responsibilities by such as adhering to legal compliance and paying tax appropriately as established in the Kyocera Philosophy whose central principle is "Do what is right as a human being."
With respect to tax compliance, we stipulate that we comply with laws and regulations, including tax laws, of the related countries in the "Kyocera Compliance Statement" which has been enacted in view of the legal compliance, and we conduct regular internal study meetings with respect to taxation in order to establish the awareness of tax compliance within our group. Furthermore, in cases of uncertainty over the application or interpretation of tax laws, we respond appropriately after seeking out the advice of external professionals.
We also strive to improve the transparency of our tax practices by submitting appropriate information to build trust with the tax authorities in each country and we strive to mitigate tax risks by confirming the appropriateness of our tax practices with the tax authorities in advance whenever possible.
In accordance with OECD's BEPS (Base Erosion and Profit Shifting) Action Plan, we conduct responsible taxation by ensuring that our economic activities and value creation occur in the right tax payment places in line with the revision of tax regulations, such as transfer pricing legislation and controlled foreign companies legislation, stipulated in BEPS. Especially, we conduct the international transactions within our group based on the arm's-length price in accordance with the OECD transfer pricing guidelines, and we make appropriate tax returns by utilizing Advance Pricing Agreement with the tax authorities. We also prevent the transfer of sources of tax revenue to low tax rate countries and regions (so called "tax havens") with the purpose of excessive tax avoidance and work to make proper tax returns in accordance with each country's tax system.
Tax Rate Information
Tax rate information of the Kyocera Group over the last two fiscal years is provided below.
Effective tax rate = Income taxes / Profit before income taxes
April 1, 2018 to March 31, 2019: 18.3%
April 1, 2019 to March 31, 2020: 24.8%
Cash tax rate = Income taxes paid / Profit before income taxes
April 1, 2018 to March 31, 2019: 29.8%
April 1, 2019 to March 31, 2020: 11.1%
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