Sato Kogyo (S) Pte Ltd (“we”, “us” or “our”) recognises our duties as a responsible corporate citizen and is committed to comply with all relevant tax laws and regulations.
We seek to ensure that all tax liabilities properly due under the law are correctly recorded, accounted for and paid on a timely basis.
Our business is driven by genuine commercial activities.
Governance Structure for Managing Tax Risks
We have a risk governance structure in place which provides clearly defined roles and responsibilities in risk monitoring, escalation, mitigation, and reporting:
The Board is responsible for setting the risk appetite and risk management framework and overseeing the systems of internal control including approval of this policy. The Board is also responsible for the oversight of the Company’s tax risk.
General Manager of Administration and Finance Department, supported by the Administration and Finance Department, is responsible for managing the Company’s tax risk.
We have formulated a tax governance policy and accordingly, maintain a sound system of risk management and internal controls to identify, assess and manage tax risks and ensure accurate reporting.
We have a team of people with the necessary skills and knowledge in managing tax compliance. External advisors will be sought where appropriate to assist with the compliance process and/or to seek advice on complex issues.
Relationship with Tax Authorities
We value cooperation and seek to build and sustain open and professional relationship with the Inland Revenue Authority of Singapore (IRAS) that are constructive and based on trust and mutual respect.
We are committed to making accurate and timely disclosure to the IRAS. Where appropriate, we will seek clarification or rulings from the IRAS on material transactions or interpretation of tax law relevant to us.
