Tax commitment

Tax commitment

We are aware of our obligations and responsibilities

We made a commitment to the State and to a transparent business management through a framework tax policy because we are convinced that those resources will be reflected in local and regional development.

Esquema de gestión de impuestos e interacción

https://www.gruposura.com/wp-content/uploads/2021/06/compromiso-tributario.png

Indicators of responsible management

Taxes, fees and contributions

403.1

Millions of dollars, paid in 2023

Profit percentage

48.4%

Destination to pay taxes in 2023

Countries

11

Where we pay taxes

Framework policy

Our Framework tax policy supports operations, consolidating the transparency and accountability processes with procedures that set up protocols for their management and application in our company and its affiliates.

Framework tax policy

Guidelines of the tax strategy

The companies must keep in mind the following considerations in all their actions:

Carry out a reasonable and responsible interpretation and application of the tax regulations.

Develop synergies and knowledge networks among the companies.

Encourage development of tax initiatives to limit those that lead to reputation and economic risks which are not properly justified, such as the use of non-transparent structures, or in jurisdictions with preferential or non-cooperative tax regimes, and operations that represent tax abuses.

Evaluate fiscal implications during business reorganization operations, such as mergers, splits, acquisitions, and divestments.

Set up joint (us and our affiliates) indicators for tax management, and follow-up on those indicators.

Manage legal risks in an efficient manner, consistent with our interests as a company.

Relationship

Build fluid, transparent and responsible relationships with the different tax authorities in the countries in which we operate, based on the principles of good faith, trust and loyalty.

Cooperate to diligently provide accurate and complete information to the authorities.

Encourage the exchange of proposals with tax administrations with the aim of contributing to the improvement and strengthening of tax systems.

Reports and disclosures

Recognize current and deferred income taxes, as appropriate, carry out the reconciliations with the tax rates, and disclose any required information.

Present information about taxes, duties and contributions caused and/or paid, as required by the competent authorities, our company, and our affiliates.

Determine the frequency with which contingencies and litigations that have a material impact involving our companies must be reported to us and to our affiliates.

Send the appropriate information to our affiliates in a timely, accurate and complete manner, within the times and in the form agreed with the respective legal and tax departments.

Using their web pages, if they have them, to make it available to all stakeholders any tax information that they are required to publish.

Materiality

Materiality of issues that have positive or negative fiscal impacts is defined as the lower number between USD5 million, 5% of the actual or profits budgeted for the period, or 2% of the previous year’s equity.

Situations for which materiality must be evaluated include:

Interpretation and application of tax regulations that lead to uncertain fiscal positions, as well as those proposed for the promulgation of the regulation.

Business reorganizations, mergers, divestments, splits, joint venture operations, or any associative operation.

Operations among related parties subject to the transfer regime.

Operations that give rise, produce, or lead to a contingency or litigation related to tax matters. Dividend flows among the companies.

Governance

The policy shall be approved by our Board of Directors and, after approval, it must be approved by the corporate boards of directors, and finally by the boards of directors or equivalent bodies in each of our affiliates.

The financial vice presidents or managers and tax areas in each company will ensure compliance with the laws, internal regulations, and the policy.

We and all our affiliates will be responsible for aligning any initiatives and other actions required for compliance.

Certain situations must be reported to the corporate tax areas:

Issues that meet the definition of materiality.

Any matters with tax implications that are presented to the boards of directors of the companies.

Fiscal situations that involve a negative reputational impact.

Taxes and contributions paid by the Company

We voluntarily publish our reported figures in the Country-by-Country Fiscal Report (CbCR).

Country Grupo SURA SURA ASSET MANAGEMENT SURAMERICANA
       
Argentina – – 20,44
Bermuda – – –
Brazil – – 6,73
Chile – 37,31 5,89
Colombia 5,87 22,55 136,42
El Salvador – -3,31 1,73
Mexico – – –
Panama – 43,04 6,45
Peru – – 5,28
Dominican Republic – 24,78 –
Uruguay – – 4,23
United States – 0,05 12,32
Total 5,87 124,42 199,49
Total (Millions of USD)     329,78
Country Grupo Sura Sura Asset Management Suramericana
       
Argentina – 0,00 6,15
Bermuda – – 0,06
Brazil – – 8,94
Chile – 31,16 5,22
Colombia 13,58 43,67 170,64
El Salvador – 8,55 -2,80
Mexico – 60,30 15,24
Panama – – 2,92
Peru – 19,34 –
Dominican Republic – – 1,46
Uruguay – 3,39 15,30
United States – – –
Total 13,58 166,42 223,14
Total (Millions of USD) – – 403.14
País 2022 2023
Argentina 20.44 6.15
Bermuda – 0.06
Brasil 6.73 8.94
Chile 5.89 5.22
Colombia 136.42 170.64
El Salvador 1.73 -2.80
México – 15.24
Panamá 6.45 2.92
Perú 5.28 –
República Dominicana – 1.46
Uruguay 4.23 15.30
United States 12.32 –
Total (In millions of dollars) 199.49 223.14
País 2022 2023
Argentina – 0.00
Bermuda – –
Brasil – –
Chile 37.31 31.16
Colombia 22.55 43.67
El Salvador -3.31 8.55
México – 60.30
Panamá 43.04 –
Perú – 19.34
República Dominicana 24.78 –
Uruguay – 3.39
United States 0.05 –
Total (In millions of dollars) 124,42 166,42
País 2022 2023
Argentina – –
Bermuda – –
Brasil – –
Chile – –
Colombia 5.87 13.58
El Salvador – –
México – –
Panamá – –
Perú – –
República Dominicana – –
Uruguay – –
United States – –
Total (In millions of dollars) 5.87 13.58

Income, profit and taxes paid by Company

We voluntarily publish our reported figures in the Country-by-Country Fiscal Report (CbCR).

Country Income Profits Before Taxes Income Tax Current Tax Deferred Tax Income Tax Paid Employees
               
Argentina 378,5 0.80 -0,00 3,81 -12,81 0,21 537
Brazil 182.76 1.60 0.26 0.14 0.12 0.99 335
Chile 927.38 197.08 6.69 18.68 -11.99 40.47 682
Colombia 5,170.86 283.03 54.77 15.95 38.81 27.63 30,023
El Salvador 135.68 5.31 2.65 3.42 -0.77 -2.18 286
United States 0.00 -0.72 0.00 0.00 0.00 0.00 –
Bermuda 8.59 -8.76 0.00 0.00 0.00 0.00 –
Mexico 548.28 147.27 18.93 28.21 -9.27 27.15 656
Panama 121.85 -8.33 -0.93 0.01 -0.95 0.04 436
Peru 98.52 40.83 9.37 14.33 -4.96 18.68 –
Dominican Republic 65.30 3.52 -0.01 1.13 -1.13 1.13 265
Uruguay 125.75 29.87 2.63 1.65 0.97 3.58 –
Total (In millions of dollars) 7,763.53 691.48 85.36 87.33 -1.97 114.10 33,220

Country Income Profits Before Taxes Income Tax Current Tax Deferred Tax Income Tax Paid Employees
               
Argentina 4,65 -162 0,00 0,00 0,00 5,92 8
Brazil 199.01 5.38 1.87 1.31 0.57 0.43 304
Chile 1,079.56 313.79 49.33 39.19 10.14 20.82 2,506
Colombia 6,160.75 693.63 244.45 100.86 143.58 124.82 25,155
El Salvador 49.80 21.32 6.40 7.62 -1.22 2.94 627
United States 0.12 -1.05 0.00 0.00 0.00 0.00 –
Bermuda 12.45 -19.72 0.00 0.00 0.00 0.00 –
Luxembourg 0.00 -0.03 0.00 0.00 0.00 0.00 –
Mexico 627.32 236.69 39.91 36.34 3.57 32.07 2,708
Panama 137.16 14.08 0.00 0.01 0.00 0.01 420
Peru 125.32 64.23 16.14 16.96 -0.83 11.45 749
Dominican Republic 73.27 7.00 1.25 1.94 -0.69 0.38 246
Uruguay 155.36 16.11 3.46 3.78 -0.32 1.99 393
Total (In millions of dollars) 8,624.79 1,349.80 362.80 208.01 154.80 198.44 33,116

Investor Kit

Download our investor kit, a tool that allows you to know in detail the main figures of our company.

Download
Icono cerrar