Since our founding as a company, NXP has applied a tax strategy that is sustainable, transparent and fully aligned with well-known and widely recognized international tax principles. NXP aims to support stable, transparent and predictable tax systems that incentivize long-term investments and economic growth. NXP’s tax structures are based on global standards and frameworks supported by the Organization for Economic Cooperation and Development (OECD).
Within NXP, 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, control and governance frameworks.
The NXP 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, and correctly handled and disclosed in the annual and quarterly reports.