Stora Enso pays taxes in full compliance with all applicable local, national and international laws and regulations. In addition to corporate income taxes we also pay other kinds of taxes such as property and energy taxes. Taxes collected by Stora Enso include value added taxes (VAT) and payroll taxes.
Stora Enso’s approach to tax planning
Stora Enso’s approach is to conduct non-aggressive tax planning. This may involve taking advantage of tax incentives granted by governments on reasonable grounds where Stora Enso’s business operations are in alignment with the goals of the incentive scheme.
Stora Enso has operations in following locations that offer favorable tax treatments:
Our joint venture Montes del Plata will start running a pulp mill in a Special Economic Zone in Uruguay in 2014.
Pulp from our joint venture Veracel in Brazil is traded via a pulp sourcing and marketing company based in Amsterdam.
Stora Enso owns 51% of a holding company in the British Virgin Islands. This holding company came into the Group’s ownership structure with the acquisition of the Inpac International packaging company in July 2011. The holding company does not practice any operating or financing activities, and Stora Enso does not make any tax savings by owning this company.
Stora Enso holds two companies in Luxembourg and a company in United Arab Emirates. None of these companies is used for tax planning purposes.