Tax Governance Policy
In response to international trends in tax governance, to fulfill its corporate citizenship responsibilities, to manage its tax risks and to comply with tax regulations, Nan Shan Life has established the “Tax Governance Policy”. The Board of Directors serves as the highest decision-making and oversight body for tax risk management mechanisms. The Accounting Department under the Finance and Actuarial Division is the designated unit responsible for all tax-related matters across the Company. The Chief Financial Officer (CFO) is tasked with supervising tax operations and tax risk management, and reports the status of tax-related implementation to the Board of Directors annually to ensure the effective functioning of the tax governance mechanism.
Tax Jurisdiction Information
Nan Shan Life is committed to complying with the tax regulations in all jurisdictions where it operates, in alignment with international tax standards. The Company ensures accurate tax calculation and fulfills its tax obligations by completing filings within statutory deadlines.
Tax Status by Country
Income Tax Information
In 2024, Nan Shan Life’s effective tax rate was 1.51%, a decrease of 7.88% compared to 9.39% in 2023. The decline was mainly due to a higher amount of tax-exempt income under statutory provisions and adjustments for overestimated income tax from prior years, resulting in lower income tax expenses. Additionally, an increase in profit before tax contributed to the decrease in the effective tax rate.
Multi-Year Income Tax Information
