Tratos truly believes and promote the culture of paying taxes. For centuries taxes have been an important fact of national life. Without them it would be impossible to pay for the country’s defence services, its health, welfare and social services, its schools and universities, and its transport systems. In addition to these huge areas of expenditure, financial support is given to other vital areas such as industry, sport, heritage and culture.
Tratos is proud of the fact that it has always paid taxes in Italy and the UK according to its operation and it paid more than 35% on tax rates. Since 1966, Tratos has been paying 10% of its turnover in wages and other employment costs for a total value of £850 million. We are proud we paid taxes in Italy and the UK, according to our operation.
Actively supporting local communities where it operates, Tratos never spared an effort to ensuring that the money it pays via taxes and royalties to governments and local authorities is disclosed transparently. By doing so, Tratos safeguards that the right amount of money is used for development and other community needs.
It also recognises that its business is often the major source of jobs and livelihoods in the communities where it operates, which are often far from metropolitan centres. We take this responsibility seriously.
Tratos actively searching the new ways on how it can better leverage financial tools, including those of social impact investors – again, for the benefit of our communities – and also looking at how it can increase the positive impact of its own community investments.