Our approach to taxation
Nexi Group is the result of the merger of Nexi, Nets and Sia and is one of the largest player in the payments market and operates in more than 20 countries.
The integration in 2021 with Nets has brought the Nexi Group, which until 2020 was present with operating offices only in Italy, to a completely international dimension, with a presence in 25 countries, fully in line with the strategic objective of being a PayTech leader in Europe.
Moreover, this integration has been progressively evolving, in line with the strategic goal of being a PayTech leader in Europe.
While engaged in a complex and transversal redesign of its processes, the objective of the correct application of tax regulations remains a priority for the Group, as evidenced by the creation of a dedicated and stronger function more focused on the matter.
Our tax strategy is aligned with our mission and values, and we are committed to being an honest and fair taxpayer who operates responsibly in his or her economic sector and in dealing with the authorities.
Our tax management
In principle, each company of the Group is responsible for tax risk management and is supported when necessary, by the competent function of the parent company.
Nexi Group’s appetite for tax risk is very low, and for this reason, the Group provides documents and procedures to ensure the correctness and completeness of data for tax reporting and tax payments purposes.
The Group does not tolerate any kind of tax avoidance and evasion.
Our tax planning
Nexi Group does not consider any aggressive tax planning and does not want to support the use of artificial structures, nor does undertake transactions to artificially transfer value to low tax jurisdictions or tax havens that are established in order to avoid paying tax and have no business purpose or economic substance.
Since Nexi Group operates throughout all the world, it is engaged in many transactions between international customers and companies. In line with internationally recognized rules for cross border transactions, the pricing of these transactions are aimed at reflecting an arm’s length price.
The pricing is driven by the activities undertaken and the value created in the countries.
This approach is expected to be consistently applied in all countries where Nexi Group operates and balancing what the local tax laws prescribe and allow.
Relationship with tax authorities
Regarding our relationship with the authorities, the Group wants to act openly and proactively through a constant and productive dialogue with all the tax authorities involved in Group’s activities.
Moreover, Nexi Group seeks to comply with all tax filing, tax reporting and tax payment obligations, in a spirit of a cooperative compliance while maintaining a transparent relationship with tax authorities in countries in which the Group operates.