Total Tax Contribution
For the third consecutive year, Cattolica decided to publish complete reporting regarding its total tax contribution. Total Tax Contribution, an initiative launched in 2017 and warmly welcomed, reflects a trend in international legislation which aims to promote greater tax transparency by economic groups.
The main goal is to communicate to stakeholders, in an intuitive and transparent manner, the data on taxes and contributions paid1 in Italy, also in order to strengthen the perception of the Group’s commitment to social responsibility.
The Total Tax Contribution approach provides full disclosure by the Group to the tax jurisdictions in which it operates, and presents in detail the types of income withdrawn that generate the payment of a tax. The following tables show the Total Tax Contribution of the Cattolica Assicurazioni Group in 20192.
1 The Total Tax Contribution considers all the taxes paid during 2019 according to the “cash” principle, instead of on an accrual basis, as used in the model for the determination of the economic value generated and distributed.
2 The data refer to the scope of the Cattolica Group as at 31.12.2019, including the data of Cattolica Agricola, which was not included in 2018. For the purposes of a homogeneous comparison with the 2018 financial year, it can also be considered that this company’s contribution to the Group’s tax contribution is negligible.