Solidium as a tax payer
The State owner requires that all companies in which it is a majority shareholder itemise the taxes paid per country.
Solidium’s tax matters are managed as part of its financial administration. Any significant observations and measures related to tax matters and risks are reported to the company’s Board. We also monitor the tax reporting of our portfolio companies as part of our corporate responsibility analysis.
Solidium’s Board regularly reviews its policies concerning tax payment and responsibility matters as an owner. We work to promote practices which enhance transparency and openness in the governance and reporting of our portfolio companies.
Finland is Solidium’s only country of operation, so income tax is paid to Finland only.
For the financial year of 1 July 2016–30 June 2017, Solidium received EUR 8.2 million income tax refund pursuant to the Business Income Tax Act in Finland and a tax of EUR 5.3 million was withheld on Telia Company’s dividends in Sweden. In addition, Solidium paid EUR 0.5 million in employer contributions. The taxes paid by the personnel on salaries totaled EUR 0.7 million.