Amounts in thousands of EUR | The Netherlands | Belgium | United Kingdom | Spain | Germany | Total |
|---|---|---|---|---|---|---|
2022 |
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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 |
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2021 |
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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.