Managing our tax affairs
Our approach to tax strategy and governance
We are committed to the highest standards of tax governance. We comply with all tax laws and obligations in the jurisdiction in which we operate and pay tax consistent with our business presence and operations.
In accordance with our Tax Risk Management and Assurance Policy, we maintain a conservative tax risk profile. All transactions we enter into are based on commercial considerations and we do not take positions that are tax driven, artificial or contrived, or that interpret a tax law beyond its spirit and intent. Where appropriate, we minimise risk and uncertainty on tax matters by obtaining sign-offs from revenue authorities.
We undertake a real time review of tax risks on all material transactions and are committed to continuous improvement of our tax compliance systems, processes and practices.
We are committed to full transparency and disclosure in all dealings with revenue authorities.
This open and cooperative approach includes regular interactions with the Australian Tax Office (ATO) under the Pre Lodgement and Post Lodgement Compliance Review Programs and the Justified Trust initiative. The ATO categorises Telstra Corporation Limited as a key taxpayer for both income tax and GST within the ATO's risk-differentiation framework.
We have adopted the Board of Taxation's Voluntary Tax Transparency Code, providing the recommended disclosures in this report and in Note 2.4 of the Financial Statements in the 2017 Annual Report.
Telstra regards this publication as complying with the duty under paragraph 16(2), Schedule 19 Finance Act 2016 United Kingdom