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Tax Footprint

Sampo Group companies are significant and responsible tax payers. With the information provided by the tax footprint, the Group companies want to increase transparency regarding the Group's taxes.

In 2017, the taxes payable and collected by Sampo Group (excluding Topdanmark) totaled EUR 987.9 million. If represents 77.8 per cent and Mandatum Life's 21.4 per cent of the total. The parent company Sampo plc's share was insignificant as it is usually not conducting taxable operations.

If is committed to ensure full compliance with all statutory obligations and full disclosures to the relevant tax authorities. The company views tax compliance as an important part of its corporate responsibility, both as an insurance company and as a member of a listed group of companies. If's governance model, the applicable mandatory requirements, and the supervision carried out by the financial supervisory authorities ensure that If maintains a high level of tax compliance.

Mandatum Life has been a significant taxpayer in Finland for many years, bearing its responsibility toward society through the company's business profits. In 2016, Mandatum Life was the 18th largest corporate taxpayer in Finland, according to business ID and information reported by the Finnish tax authority.

Taxes payable by the company, Sampo Group excluding Topdanmark

EURm   2017 2016
Corporate income tax Corporate income tax accrued for the financial year 289.5*  196.3
Employment taxes Social security charges and other similar taxes payable on salaries  79.4  73.9
Other taxes    4.7 4.8 

Taxes collected by the company, Sampo Group excluding Topdanmark

EURm   2017 2016
VAT Total payable VAT 28.7  28.5
Insurance premium tax Insurance premium taxes payable to domestic and foreign tax authorities 237.3  242.3
Withholding tax Taxes withheld on employee salaries and taxable claims payments 348.3 352.3
TOTAL   987.9 898.2

* Includes a one-time tax payment connected to a reorganization.

Distribution of Total Payable and Collected Taxes by Country 2017, Sampo Group excluding Topdanmark

Distribution of Corporate Income Tax by Country 2017, Sampo Group excluding Topdanmark

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Updated 10/29/2018