Corporate culture principles

Our corporate principles are consistent with what is defined within the Group's Code of Ethics, based on the Lamberti Values underlying the company's mission.

we are. Prosperity

Our fiscal approach is based on the principles of prudence, responsibility, consistency and transparency towards the Company's stakeholders, including the Tax Administrations of the various countries.

All activities carried out by the Group comply with the relevant tax regulations and tax planning is always aligned with business activities. Individuals who are assigned the functions of representation towards national and international Tax Authorities must be inspired by the strictest compliance with the applicable legal provisions as well as the principles of fairness, transparency and loyalty, without compromising the integrity or reputation of the Lamberti Group in any way.

In particular, Lamberti carries out intra-group transactions at market conditions (arm's length value), complying with criteria of substantive and procedural fairness for the purposes of a transparent and objective assessment: the fees for the exchange of services and/or goods between Group companies are defined on the basis of market conditions and must always be justifiable.

Transparency and collaboration

The corporate culture principles underlying the implemented fiscal approach are the following:
•    Responsible management of the tax variable based on trust, transparency and collaboration with institutions and inspired by the principles set out in the Code of Ethics;
•    Tracing and measuring of tax risks associated with business processes, aimed to containing them; 
•    Promoting a tax culture and compliance with all tax laws and regulations applicable in the various jurisdictions in which the Group operates;
•    Promoting within the Group of general principles of conduct in tax matters, based on the values of responsibility; 
•    Adequacy of the organization and related processes (tax governance) in compliance with the defined objectives; 
•    Provision of effective monitoring procedures that allow the identification of any deficiencies or errors in its operation and the consequent implementation of the necessary corrective actions;
•    Consolidated relationship with the Tax Authorities managed in a professional, transparent and timely manner.

Membership Area Italy Europe Middle East - Africa USMCA South America Asia
(iii) Employees' number 775 78 14 249 114      123
(iv) Revenues from third-party sales 223.839.285 87.203.501 21.209.988 300.423.958  62.076.584 61.012.184
(v) Revenues from infra-group transactions with other tax jurisdictions 147.222.742 4.119.796 49.903 10.099.056 6.308.688 6.612.725
Revenues from infra-group transactions within the same tax jurisdictions  516.552 24.000 0 6.666.550  0 0
Revenues related to other source of infra-group revenue such as dividends, interest and royalties (not included in turnover) 808.797  5.985.116 0 6.315.954 0 0
(vi) Profit/Loss before tax 17.434.823 12.111.895 1.538.589 55.148.473 11.460.116  2.004.972 
(vii) Tangible assets other than cash and cash equivalents 70.529.450 5.799.099 37.910 57.733.451 3.635.487 5.226.302
(viii) Corporate on income tax paid on a cash basis  43.908 1.947.265  337.197 13.485.839  6.680.611 616.827
(ix) Corporate on income tax acrrued on profit/loss income  1.417.994 1.826.371 157.633 11.711.777 6.064.225 431.217
(x) Reasons for to the difference between the corporate income tax accrued on profit/loss and the tax due if the statutory tax rate is applied to profit/loss before tax The main difference is related to the utilisation of the loss carried forward under the tax consolidation scheme, to other tax incentives (tax credits) for the consumption of electricity and gas for industrial use, and to a minor extent to dividends received (taxable in Italy for 5% of the nominal amount). The energy tax credits received in 2022 by Lamberti SpA represent a non-recurring event The main difference is the dividends received, which are not taxable under certain conditions and minor tax adjustments on the basis of local tax law                                           
      		 0 The main difference is related to dividend received, not taxable in the year of receipt by the recipient company (altready taxed under tax consolidation in the year of generation) The main differences are: 
- temporary adjustments concerning a tax credit provided by Brasilian Tax Authority; 
- the deduction of the Interests calculated on shareholders' equity (Juros) in Brazil;
- the application of adjustment for tax inflation in Argentina 		0