Why do we at ING want to make sure we are not facilitating the aggressive avoidance of tax, even though it is illegal?
Please select the correct answers and click submit.
This aligns with our values
This aligns with our principles
This aligns with the expectations of society
This aligns with the expectations of our regulators
Answer (2)
ING seeks to avoid facilitating aggressive tax avoidance because it aligns with their values, principles, societal expectations, and regulatory expectations. This approach reflects their commitment to ethical and responsible business practices. Ultimately, it promotes fairness in corporate taxation.
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Ensuring that a company like ING does not facilitate aggressive tax avoidance, even though aggressive tax avoidance itself is legal, is important for several reasons that align with values, principles, societal expectations, and regulatory compliance.
This aligns with our values: Companies usually have core values that guide their operations. By avoiding aggressive tax strategies, ING demonstrates a commitment to ethical business practices, fairness, and transparency. These values foster trust with customers and stakeholders.
This aligns with our principles: Many organizations have guiding principles that dictate how they want to operate in society. For ING, it is important to act responsibly and maintain integrity. Facilitating aggressive tax avoidance could contradict these principles, and adhering to them ensures the company's long-term sustainability and reputation.
This aligns with the expectations of society: Society expects companies, especially large financial institutions like ING, to contribute fairly to the economy by paying their due share of taxes. Public sentiment often frowns upon businesses that engage in aggressive tax avoidance as it may be perceived as unfair and unethical.
This aligns with the expectations of our regulators: Regulatory bodies expect businesses to follow not only the letter of the law but also the spirit of the law. Engaging in practices that avoid taxes aggressively might draw negative attention from regulators, leading to stricter scrutiny and potential reputational damage.
By focusing on these areas, ING not only mitigates risks associated with aggressive tax avoidance but also positions itself as a responsible and ethical business leader within the financial sector.
