Elena Distaso
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Edison admitted by the Italian Revenue Agency to the cooperative compliance system
Milan, January 18, 2024 - Edison announces that it has been admitted to the Cooperative Compliance Tax System promoted by the Italian Revenue Agency. In line with the OECD's call for Cooperative Compliance, the institute allows for the establishment of forms of prior notification and cooperation between the tax authority and taxpayers, aimed at reducing the level of uncertainty in situations which may generate tax risks and thus prevent disputes.
Being admitted to this system represents for the Company and the Edison Group an important recognition of a commitment to continually improve processes and the internal control and risk management system, particularly with regard to tax. The admission comes as a result of a positive assessment conducted by Tax Administration on the Tax Control Framework (TCF), the system adopted by Edison some years ago for the detection, management, control and mitigation of tax risks.
"Being admitted to the Cooperative Compliance system is in line with best practice in fiscal risk management and represents a crucial component for an ethical and responsible business management", says Ronan Lory, Edison's Chief Financial Officer. "It confirms Edison’s constant focus on improving its processes and internal control and risk management system, in line with the Group's sustainability strategy, based on transparency and the desire to contribute to Italy's economic and social development".
Admission to the tax system, which takes effect from the 2022 tax year, confirms Edison's commitment to adopting prudent and balanced fiscal policies and to maintaining open and transparent relations with the Authorities, including in response to the growing interest shown by all stakeholders towards these issues. Being admitted to the Cooperative Compliance system also marks an important acknowledgement of the Edison Group’s efforts in recent years to promote within its organisation a tax culture based on the correct management of tax liabilities, which are a key indicator for the Group, including in terms of Sustainability.
As required by the regulations, with the admission measure notified by the Revenue Agency, Edison S.p.A. was included in the list of companies operating in full transparency with the Italian Revenue Agency, as published on the Internal Revenue Service's website.
Being admitted to this system represents for the Company and the Edison Group an important recognition of a commitment to continually improve processes and the internal control and risk management system, particularly with regard to tax. The admission comes as a result of a positive assessment conducted by Tax Administration on the Tax Control Framework (TCF), the system adopted by Edison some years ago for the detection, management, control and mitigation of tax risks.
"Being admitted to the Cooperative Compliance system is in line with best practice in fiscal risk management and represents a crucial component for an ethical and responsible business management", says Ronan Lory, Edison's Chief Financial Officer. "It confirms Edison’s constant focus on improving its processes and internal control and risk management system, in line with the Group's sustainability strategy, based on transparency and the desire to contribute to Italy's economic and social development".
Admission to the tax system, which takes effect from the 2022 tax year, confirms Edison's commitment to adopting prudent and balanced fiscal policies and to maintaining open and transparent relations with the Authorities, including in response to the growing interest shown by all stakeholders towards these issues. Being admitted to the Cooperative Compliance system also marks an important acknowledgement of the Edison Group’s efforts in recent years to promote within its organisation a tax culture based on the correct management of tax liabilities, which are a key indicator for the Group, including in terms of Sustainability.
As required by the regulations, with the admission measure notified by the Revenue Agency, Edison S.p.A. was included in the list of companies operating in full transparency with the Italian Revenue Agency, as published on the Internal Revenue Service's website.
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