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Vodafone's tax principles and strategy

Tax laws are often unclear and subject to a broad range of interpretations, as discussed earlier in this report. When combined with the unavoidably complex financial affairs of large multinational companies, this can lead to uncertainty and, on occasion, unpredictable outcomes.

Vodafone operates within a clearly defined governance framework on tax that is designed to provide certainty for all stakeholders with an interest in our tax affairs. We have a long-established Tax Strategy that is underpinned by our Tax Principles and supported by our Tax Risk Management Policy (first published in 2009) and includes our Tax Code of Conduct (first published in 2007). This Tax Policy is mandatory for all our local operating subsiduaries and any associated legal entities, and we encourage our joint ventures and associates to follow similar principals to those we have outlines.

Our tax governance framework is overseen by the Group Executive Committee (ExCo) as well as the Audit and Risk Committee of the Vodafone Group Plc Board, with key issues reviewed at least twice a year.

Vodafone's Tax Principles

Vodafone's Tax Principles

We employ professionals who are responsible for our tax affairs in every country in which we operate.

Key components of our Tax Strategy

Tax Value

To manage efficiently the tax cost to the Group of doing business, including the Group's cash taxes and effective tax rate, within the ambit of all applicable laws

Risk and reputation

To control and manage tax risks and the Group's reputation through appropriate policies, communication and robust defence

Business partnering

To be recognised as a vital business partner by our stakeholders and to facilitate the growth and development of the Group's business activities in a tax-efficient manner

Influencing

To influence govermments and tax authorities constructively and positively in the interests of all our stakeholders

People

To develop and enhance our people professionally and personally as part of a world-class international tax team

Compliance

To ensure the integrity of all reported tax numbers and timely compliance with all relevant statutory tax obligations

Customer experience

To act, where possible, in meeting the above objectives in a way that will enhance our customers' experience

Learn more about our contribution to economics

Tax and emerging markets

Tax and emerging markets

Employment and skills development and are widely recognised as a positive force for good by governments and civil society alike.

Vodafone, Luxembourg and tax havens

Vodafone, Luxembourg and tax havens

Many governments choose to develop tax regimes that offer multinational companies some form of competitive advantage in order to attract inward investment.

Vodafone corporation tax

Vodafone corporation tax

Governments seek to adjust their tax regimes to stimulate investment and encourage job creation.