Crisis management is a critical part of our corporate governance, enabling us to keep operating in times of crisis. Our Group Global Crisis Management Policy lays out basic policies, rules and standards for crisis management. The Policy supports the systems and operations we have in place to respond to a crisis swiftly and effectively, and minimize any potential harm to our people, Takeda’s finances or the world around us.
As with risk management (see “Risk Management” section), our businesses and functions are responsible for establishing their own crisis management systems, introducing preventive measures and taking appropriate action if a crisis occurs. In the event of a crisis calling for companywide action, a Global Crisis Management Committee (GCMC), chaired by our President and CEO, will coordinate the response. For example, in January 2020, we activated a GCMC to help govern our response and efforts to the COVID-19 pandemic.
Takeda’s operations incur a significant amount of business tax in a number of forms, including corporate income taxes, customer duties, excise taxes, property taxes, stamp duties and employment taxes, such as those for public benefit and retirement plans. We also collect and pay employee taxes and indirect taxes such value-added tax. The taxes we collect and pay are part of our contribution to local economies and their well-being.
We’re committed to compliance with prevailing tax laws where we do business and building transparent, professional and constructive relationships with tax authorities. We support increasing public trust and transparency in national and international tax regimes.
To comply with applicable disclosure regulations and to support our transparent approach to taxation, we’ve published “Takeda’s Position on Taxation” on our corporate website. This document explains our approach to the following: