In line with our code of conduct and in compliance with applicable tax legislation in the countries where we operate, VIVAT acts as a responsible taxpayer. VIVAT ensures that the tax return is complete, timely and accurate and that taxes are paid in connection with its business activities. We strive for an open and constructive dialogue with the tax authorities on the basis of transparency and trust. We do not establish subsidiaries in jurisdictions for tax reasons and try to avoid cooperation with parties that are only present for tax reasons. We do not advise our clients on tax avoidance structures and do not take an active role in (international) structures aimed at tax avoidance. Our approach to tax matters is currently based on the VIVAT Code of Conduct and our ambition is to formulate a VIVAT tax policy that describes our approach as a responsible taxpayer.