PotlatchDeltic Shares Tax Strategy and Importance of Transparency
PotlatchDeltic emphasizes the importance of tax transparency and governance in its operations. The company's tax strategy is aligned with the interests of stakeholders such as governments, shareholders, employees, and communities. Robust tax governance and risk management policies are in place to ensure compliance with tax requirements. The CFO oversees tax policy, while the Tax Director manages day-to-day tax affairs. The company partners with business operations to enhance value through tax planning and sustainable development. Stakeholder engagement includes maintaining transparent relationships with tax authorities and advocating for tax legislation that fosters innovation and growth.
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NORTHAMPTON, MA / ACCESSWIRE / April 26, 2024 / Our approach to tax aims to align with the needs and long-term interests of our various stakeholders including governments, shareholders, employees, and the communities where we operate. When considering tax affairs, we consider the Company's corporate and social responsibilities and reputation and the benefit of transparency on tax matters. We recognize the importance of tax systems in helping governments fund programs to meet the needs of their communities.
TAX GOVERNANCE AND RISK MANAGEMENT: The policies and procedures we have in place are designed to ensure we comply fully with all applicable tax requirements in every jurisdiction where we operate. We have established robust internal controls in financial and tax reporting, and we rely on technology and appropriately qualified and capable employees across our operations to timely and accurately calculate, report, and pay our tax liabilities. Employees and external stakeholders can report tax concerns through our hotline. Responsibility for setting and implementing our tax policy and management of our tax risks ultimately sits with our Chief Financial Officer (CFO). Day-to-day responsibility for the application of the tax policy and the management of our tax affairs is delegated by the CFO to the Tax Director, who is supported by a team of in-house tax and finance professionals. Oversight is provided by the Audit Committee of the Company's Board of Directors, consistent with our Enterprise Risk Management Framework.
ALIGNMENT WITH OUR BUSINESS: Our tax team partners with our business operations to provide tax planning that enhances value and sustainable development and manages tax risks. Our internal policies and procedures are designed to ensure we comply with applicable tax laws, including monitoring and minimizing tax risks. We have a low tolerance for tax risk and do not engage in planning opportunities that are not in line with our values or are inconsistent with our reputation. Where uncertainty exists, and when appropriate, we seek clarification from external professional advisors.
STAKEHOLDER ENGAGEMENT: We are committed to maintaining professional, open, and transparent relationships with tax authorities in all jurisdictions in which we operate, including the Internal Revenue Service and U.S. state and local tax and revenue departments. In the event a tax authority disagrees with our views on the appropriate tax treatment of a given item, we will work constructively to resolve the issue in a timely manner through appropriate methods of dispute resolution. We seek to be a valued partner to governments and advocate for tax legislation that encourages innovation and growth.
Forward Looking Statement
This release contains certain forward-looking statements within the meaning of the federal securities laws. Words such as "aims," "campaign," "can," "committed", "designed," "ensure," "initiatives," "long-term," "opportunities," "planning," "seek," "will," and similar expressions are intended to identify such forward-looking statements. These statements reflect management's views of future events based on assumptions and are therefore subject to known and unknown risks, uncertainties, and other factors, and are not guarantees of future conduct, results, or policies. Please view the Cautionary Statement Regarding Forward-Looking Information on page 134 of PotlatchDeltic's 2022 ESG Report.
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Contact Info:
Spokesperson: PotlatchDeltic
Website: https://www.3blmedia.com/profiles/potlatchdeltic
Email: info@3blmedia.com
SOURCE: PotlatchDeltic
View the original press release on accesswire.com
FAQ
What is PotlatchDeltic's approach to tax and why is it important?
PotlatchDeltic's approach to tax aims to align with the needs and long-term interests of stakeholders such as governments, shareholders, employees, and communities. Tax transparency and governance are important for the company's operations.
Who is responsible for setting and implementing PotlatchDeltic's tax policy?
The Chief Financial Officer (CFO) is responsible for setting and implementing PotlatchDeltic's tax policy. The day-to-day management of tax affairs is delegated to the Tax Director, supported by a team of in-house professionals.
How does PotlatchDeltic manage tax risks and compliance with tax laws?
PotlatchDeltic has robust internal controls in financial and tax reporting to ensure compliance with tax requirements. The company partners with business operations to enhance value through tax planning and sustainable development while managing tax risks.
How does PotlatchDeltic engage with tax authorities and handle disputes?
PotlatchDeltic maintains transparent relationships with tax authorities in all jurisdictions where it operates. In case of disagreements on tax treatment, the company works constructively to resolve issues through appropriate dispute resolution methods.
What values guide PotlatchDeltic's tax planning and risk management?
PotlatchDeltic has a low tolerance for tax risk and does not engage in planning opportunities that are not in line with its values or reputation. The company seeks clarification from external advisors when uncertainty exists.
