North Media is intensifying its sustainability efforts and ESG reporting this and the next few years, and we welcome the new EU CSDR Directive and the stricter reporting requirements on sustainability that go with it. It is important that companies communicate on sustainability on a comparable basis. It is important that companies communicate on sustainability on a comparable basis.<\/p>\n\n
The Group\u2019s ESG efforts also include tax matters, and as one of only two companies in Denmark North Media has obtained accreditation by the Fair Tax Foundation, an international NGO offering accreditation to companies that pay taxes in those countries where they have activities and pursue an open and transparent tax policy.<\/p>\n\n
\u2018Integrity\u2019 is a key word \u2013 also with respect to North Media\u2019s tax policy. This means that we will always pay our taxes in accordance with the prevailing tax legislation. North Media does not undertake tax planning and does not tolerate any form of tax evasion or aggressive tax planning, and we have now enhanced transparency and reporting in this area,\u201d says Group Chief Financial Officer K\u00e5re Wigh.<\/p>\n\n
Almost DKK 1 billion in taxes over three years<\/strong><\/p>\n\n As part of the extended ESG reporting provided in our most recent annual report for 2023, already structured in line with the future CSRD requirements, North Media presented the Group\u2019s tax payments in a country-by-country statement.<\/p>\n\n According to this statement, North Media contributed DKK 336.3 million in 2023, mainly in Denmark but also in Sweden, of which DKK 142 million was from VAT etc., while the Group\u2019s 399 employees and roughly 10,000 distributors, mainly young people, paid around DKK 116 million in personal income taxes on the wages they earned from working with North Media.<\/p>\n\n The Group has paid almost DKK 1 billion in direct and indirect taxes in the past three years. The profit accumulated over the same period amounted to DKK 540 million.<\/p>\n\n Fastest riser of the year according to Tax Governance Rating<\/strong><\/p>\n\n The Group\u2019s tax policy and efforts in the tax area have also resulted in a third-best Tax Governance Ranking in the mid-cap segment in \u2018\u00d8konomisk Ugebrev\u2019, a Danish weekly online newsletter focusing on finance, management and investment.<\/p>\n\n \u201cWe have set the bar high when it comes to tax transparency and tax reporting, and we have a clear ambition to continue this trend and achieve an even higher ranking next year,\u201d says K\u00e5re Wigh.<\/p>\n\n The period 9\u201316 June 2024 is Fair Tax Week with an international spotlight on businesses\u2019 and organisations\u2019 tax payments in news media, on social media and at debate events. This is including the annual Danish democracy festival \u2018Folkem\u00f8det\u2019 held on the island of Bornholm. Read more at: https:\/\/fairtaxmark.net\/supporters\/fair-tax-week\/<\/a><\/p>\n\n