Tax Strategy & Reporting
Garanti’s majority shareholder is Banco Bilbao Vizcaya Argentaria S.A. (BBVA) with 49.85% share. Tax policy document (BBVA Group’s Tax Strategy) covering BBVA Group as institutionally adopting transparency, prudence and honesty principles in tax matters has been approved by Board of Directors of BBVA.
Within the framework of BBVA’s commitment to transparency, BBVA publishes voluntarily the Total Tax Contribution Report. The aim of this Report is to provide its stakeholders (shareholders, customers, suppliers, employees and society in general), in a clear and simply way, the information about the tax payments made by the Group, both on its own and on behalf of third parties, in the countries where it operates. This Report aspires not only to be a good example of transparency but also a best practice in the sector.
As a member of BBVA Group, Garanti Bank is obliged to be in compliance with BBVA’s tax policies during the entire strategy, tax policy and reporting period.