Prevention of Tax Evasion and Facilitation Policy
This policy defines the company’s stance on preventing tax evasion and facilitation, ensuring a culture of
transparency and accountability.
Scope
This policy applies to all employees, contractors, and third-party service providers who work with or on behalf of smslocal.com, ensuring everyone understands their role in preventing tax evasion and maintaining the highest standards of integrity and compliance.
Definitions
Tax evasion refers to illegal activities that involve deliberate concealment or misrepresentation of information to reduce tax liability, including but not limited to false invoicing, misdeclaration of income, and other forms of tax fraud. Facilitation of tax evasion means assisting or enabling others to engage in tax evasion, which is also strictly prohibited and may include activities such as providing false documentation or advice.
Policy Statement
smslocal.com prohibits the facilitation of tax evasion by its employees, contractors, and third-party service providers. We are committed to complying with all applicable tax laws and regulations and expect the same from our partners, ensuring a culture of transparency and accountability.
Responsibilities
All employees, contractors, and third-party service providers are responsible for reporting any suspicious activities or concerns to management, who will investigate and enforce policy compliance. This includes being vigilant and reporting any activities that may indicate tax evasion or facilitation of tax evasion.
Procedures
To prevent tax evasion, we conduct thorough due diligence, monitor transactions and activities regularly, and report suspicious activities to relevant authorities, ensuring a robust framework for compliance and minimizing the risk of tax evasion.
Training and Communications
Regular training and updates on tax evasion risks and prevention ensure that all employees and third-party service providers understand their roles and responsibilities in preventing tax evasion and maintaining compliance. This includes training on identifying red flags and reporting suspicious activities.
Breaches of the Policy
Any breaches of this policy will be thoroughly investigated, and disciplinary action, up to and including termination, may be taken against employees and contractors, and contracts may be terminated with third-party service providers. Repeated breaches may lead to more severe consequences.
Responsibilities for the Process
A designated responsible officer oversees the implementation and enforcement of this policy, ensuring clear procedures are in place for reporting and investigating suspicious activities, and providing guidance and support to employees and third-party service providers.
Reporting Suspected Tax Evasion
A secure reporting mechanism allows employees and third-party service providers to report suspected tax evasion confidentially, with protection for whistleblowers and prompt investigation of all reports. Reports can be made anonymously, and all concerns will be treated seriously.
Consequences of Non-Compliance
Non-compliance with this policy may result in disciplinary action, legal consequences, and reputational damage to(smslocal.com), including fines, penalties, and loss of business.
Review and Revision
This policy is reviewed and updated annually or as needed to reflect changes in laws, regulations, or business practices, ensuring ongoing effectiveness in preventing tax evasion and maintaining compliance.
