Legislative and regulatory risks
Vopak is a decentralised company with a clear network strategy and branches in 30 countries. The company initiates regular local external audits of its compliance with laws and regulations. The Corporate Tax department regularly visits divisional offices and terminals to discuss tax positions, increase awareness and management of these positions and ensure smooth communications between terminals, the division and the Corporate Tax department. Guidelines for dealing with tax issues were updated and implemented in the organisation during the year. Vopak also maintains a compliance database.
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