Tax strategy

Novozymes’ overall tax strategy and transfer-pricing policy support a positive tax contribution to society and governments in the countries in which Novozymes operates. Novozymes continuously works to fulfill our tax obligations in the countries where we operate. We seek to obtain a competitive tax level in a fair and responsible way, and with full regard to national and international laws and regulations. Besides taxes, our economic contributions consist of duties, VAT, employee taxes, employee pension and benefit programs, procurement from local vendors and job creation, among others.

In 2015, Novozymes incurred taxes as corporate income taxes, and other taxes and duties came to approximately DKK 1,425 million. In addition, Novozymes collected and withheld tax contributions on dividends and wages totaling approximately DKK 1,275 million. Novozymes’ total tax contribution therefore amounted to approximately DKK 2,700 million, compared with approximately DKK 2,425 million in 2014.