Economic contribution to society
Telenor is a long-term owner, employer and taxpayer in the markets where we operate. Telenor’s operations contribute with tax revenue, employment and investments and our industry drives crucial societal digitalisation. Contributing positively to societies where we operate is a key component in building trust in Telenor and creating a predictable and productive business environment. Together, these elements improve our value creation prospects in all areas in which we are present.
A crucial part of Telenor’s purpose to empower societies and commitment to do business responsibly, Telenor is a significant tax contributor across the markets it operates in, both as a direct taxpayer and by creating economic opportunities by providing access to connectivity and digital services.
Telenor maintains a responsible tax policy and practices in line with legislation in every jurisdiction of operation. The company has reported its country-by country earnings, investments, taxation, and employment since 2014. Telenor is in constant dialogue with the relevant authorities regarding tax, for instance on whether it needs to adapt to new legislation. Telenor follows the terms of applicable Double Taxation Treaties, relevant OECD guidelines in dealing with transfer pricing and establishing taxable presence, and the Base Erosion and Profit Shifting initiatives. The company endorses transparency and fairness across the global tax system, exchange of financial information and concerted action to fight base erosion and profit shifting.
In addition to employing over 16.000 people and constantly striving for high sustainability standards throughout the supply chain, Telenor contributes to the financing of public domains through Taxes Borne as well as Taxes Collected. Total tax contributions are not only the taxes levied on the profit of the Telenor Group, but also takes into account further taxes. Activities that add value to the societies include positive financial impact through wage taxes, social contributions, and value-added taxes.
See the latest Sustainability Report for an overview of the most important elements of Telenor’s direct economic contribution country-by-country.