Amounts in thousands of EUR

The Netherlands

Belgium

United Kingdom

Spain

Germany

Total

2022

 

 

 

 

 

 

Tax on Profit

7,916

1,500

1,250

1,559

315

12,540

Value Added Tax (VAT)

13,058

1,211

3,625

2,238

458

20,590

Banking Tax

-

2,755

-

702

-

3,457

 

 

 

 

 

 

 

2021

 

 

 

 

 

 

Tax on Profit

9,498

3,011

635

1,017

25

14,186

Value Added Tax (VAT)

11,580

868

2,732

2,242

531

17,953

Banking Tax

-

2,913

-

644

-

3,557

Triodos Bank’s approach to tax reflects its values. It sees paying taxes not as a burden, but as a contribution to the societies that the bank operates in. Taxes are an important instrument to fund education, infrastructure and systems.  As such, companies should pay taxes as an important part of their role as a responsible business. The VAT included in the table above are the non-deductible VAT paid on invoices to suppliers.

Accounting policy

The segments (branches and subsidiaries) are reported in a manner consistent with the internal reporting provided to the Executive Board. The Executive Board is responsible for allocating resources and assessing performance. Segment profit before tax, as included in internal management reports reviewed by the Group’s Management Committee, is used to measure performance because management believes that this information is the most relevant in evaluating the results of the respective segments relative to other entities that operate within the same industries.

Segment assets, liabilities, income and results include items directly attributable to a segment as well as those that can be allocated on a reasonable basis. Transactions between segments are conducted at arm's length. All transactions between segments are eliminated as intercompany income and expenses. Segment assets, liabilities, income and results are measured based on our accounting policies. The geographical analyses are based on the location of the office from which the transactions are originated.