Our overall vision for tax is to manage tax in a way that maintains compliance with all relevant laws and regulations whilst achieving our overall vision of being a global world class information technology and business process services leader helping our clients succeed. We will achieve our vision by pursuing the below strategic objectives on tax, each of which are underpinned by CGI core values, our ethical principles and standards for business conduct. As with any area of our organisation, our collective success is based on our competence, commitment and enthusiasm in pursuit of the below objectives.
Strategic objectives on tax
We follow the best management practices and have implemented a management model to ensure an appropriate level of oversight and review of key tax processes to ensure effective internal control. We adhere to the highest values of quality, objectivity and integrity. The Board will also oversee the integrity of the Company's internal control and management information systems by reference to the COSO (Committee of Sponsoring Organization) framework, whilst the Audit & Risk Management Committee reviews and monitors our internal control procedures, programs and policies, and assesses the adequacy and effectiveness of internal controls. On a day to day basis, management assumes the responsibility ensuring that we are compliant in our tax compliance obligations and are proactively mitigating tax risks to acceptable levels. Our Global Tax Strategy compliance is ensured by Management and material matters are reported to the Audit & Risk Management Committee and escalated to the Board as necessary. The Audit & Risk Management Committee is sensitive to and aware of the tax environment and its evolution.
We strive to deliver strong, consistent financial performance which sustains long term growth and benefits for both our members and shareholders, minimising our tax cost whilst abiding by relevant tax laws and regulations. We ensure that we pay tax responsibly in all the jurisdictions in which we operate, as members, we embrace our social responsibilities and contribute to the continuous development of the communities in which we live and work. We undertake all business activities in compliance with laws and regulations, and in accordance with the CGI values. All tax decisions undertaken have an underlying commercial rationale to support our growth and commitment to clients, members and shareholders. We view tax as a cost to our business which we have a duty to manage in accordance with the interests of our wider stakeholders, however we do not engage in aggressive tax planning and always seek to operate within the letter and the spirit of the law.
We always act honestly and ethically. We never seek to gain undue advantages and we avoid conflicts, whether real or perceived with tax authorities. We strive to maintain an open, transparent and pro-active relationship with tax authorities in the jurisdictions where we operate. We always act honestly and ethically, engaging in fair and transparent business activities. We will interpret tax law using relevant guidance and discussing such interpretation with tax authorities where appropriate, to minimize the extent of disputes and review possible risks. We maintain full and timely disclosure of necessary information as required by law, by providing tax authorities with necessary information on a real-time basis, wherever possible. If any disputes arise, we will maintain an open, collaborative and constructive relationship with tax authorities to achieve early agreement and resolution. One of our core values is respect - in all we do, we are respectful of our various stakeholders, including tax authorities.
We promote a culture of teamwork, intrapreneurship and sharing to deliver tax compliance. We promote a culture of innovation and initiative where we are empowered with a sense of ownership in supporting clients, thus ensuring our profitable growth. From a tax perspective, through teamwork, sharing our knowledge and expertise across our global operations, and ensure tax and those with tax specialist knowledge (including advisors) form active links with the wider business. This ensures sufficient tax knowledge and support is available for the Group to make good business decisions. For us, partnership and quality are both a philosophy and a way of life so where appropriate, we will seek advice from external professional advisors to ensure we remain compliant with our obligations.
Published 31 December 2018