In February 2021, VNO-NCW announced in its agenda for 2030 ‘Ondernemen voor brede welvaart’ that
the business community would develop a Tax Governance Code.

This Tax Governance Code should lead to more transparency on the tax position of Dutch listed companies and could, in future, be incorporated into the Corporate Governance Code.

Taxes are a vital source of revenue for countries around the world and help to fund essential services like
education, healthcare and transport. Today, it is more important than ever that companies are open
about their tax payments, so that people can understand how much is paid and why. Transparency builds
trust. It is about putting the numbers into context, but also about demonstrating the commitment to
comply with legislation and explaining a company’s approach to tax.