Geo Energy 09 DISTRIBUTING ECONOMIC VALUE [GRI 3-3, 201-1] We continue to create economic value for our stakeholders through our operations, including delivering low ash, low sulphur coal at a competitive price to our customers, making dividend payments to shareholder and taxes to local authorities. On the social front, we foster an inclusive and caring work culture for our staff and reward our high-performing employees and contractors. Beyond looking out for our people, we continue to care for our community and invest in their infrastructure, we also hire and source locally. Revenues Operating Costs Employee Wages and Benefits USD 489.0 million USD 386.5 million USD 20.8 million Tax Payment to Government Payments to Providers of Capital Community Investments USD 26.7 million USD 61.5 million USD 0.4 million OUR TAX APPROACH [GRI 207-1, 207-2, 207-3, 207-4] Geo Energy’s tax strategy is aimed at ensuring compliance with the relevant tax laws. We have adopted the following approach for our tax strategy: • To engage constructively and openly with the tax authorities and tax consultants; • To monitor the tax regulations of jurisdictions that we operate in, in consultation with tax consultants; • To be transparent with our tax disclosures which enables us to meet regulatory requirements and to reflect best practices; and • To engage in reasonable tax planning that is aligned with our commercial and economic activities. The Chief Financial Officer (CFO) performs a monthly review on the tax computation workings reported by the Group’s Senior Tax Manager, and advises on the strategic direction on tax matters. The Group’s Tax department also seeks advice from tax consultants on tax queries and tax computation workings. To ensure that we comply with tax regulations, we actively engage with our external tax advisers for updates on tax regulations and for matters of uncertainty in relation to taxation. Our tax approach is linked to the business and sustainable development strategies of the Group, whereby the Group pays the taxes in compliance with regulations, considers tax incentives and tax exemptions where appropriate and engages in reasonable tax planning that is aligned with our commercial and economic activities.
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