Providing NXP taxation principles, approach, governance and engagements applied across our geographic operational footprint.
NXP follows a tax strategy that is sustainable, transparent, fully aligned with well-known recognized international tax principles and maintain strict adherence with applicable tax laws. NXP aims to support stable, transparent and predictable tax systems that incentivize long-term investment and economic growth. NXP’s tax structures are based on global standards and frameworks supported by the Organization for Economic Cooperation and Development (OECD).
The Tax department is led by a Senior Vice President (SVP), reporting directly to the Chief Financial Officer (CFO). The CFO is responsible for updating the Audit Committee of the Board of Directors on a regular basis, with support from the Tax department leadership. NXP reviews and approves tax plans and targets annually, consistent with industry-wide, best-in-class control and governance frameworks.
The Tax department is a centralized organization that manages both regional and functional requirements. The organization regularly engages with external tax advisors and/or local tax authorities to provide assurances that our tax obligations are properly, effectively, correctly handled, and disclosed in annual and quarterly reports.