01 Introduction and strategy 02 Measuring and managing sustainability 03 Climate change related disclosure 04 Str engthening our foundation 05 Our universal principles 04.4 Tax transparency € 19.5 bn Total Tax Contribution in 2022 Our ambition is to support the fairness, transpar ency and balance of all tax systems at national and international levels in dialogue with key stakeholders and to transparently communicate tax positions. 04.4.1 Our tax strategy The taxes we pay are an important part of our contribution to the economic and sustainable development of the countries in which we operate. Fair, effective and stable tax systems are beneficial for governments, companies and the wider society. Our tax strategy is closely aligned to our business strategy and our sustainability strategy . It supports U.N. SDG 16, Peace, justice and strong institutions and SDG 17, Partnerships for the goals. Guided by our Sustainability Strategy, we embed en vironmental (E), social (S) and governance (G) aspects in all our business and corporate citizenship activities. Responsible tax is a fundamental aspect of this. Our Code of Conduct sets out our values and principles and guides our behavior, including our tax str ategy which requires full compliance with tax regulations and tax laws in all countries in which we operate. Our tax strategy has been approved by the Board of Management of A llianz SE as the ultimate decision taking body and is reviewed on an annual basis. It comprises the following fundamental objectives: • Full compliance with tax regulations, accurate and timely reporting and effective tax risk management. • Safeguarding of the Group’s reputation as a responsible taxpayer. • Existence of a sound organizational set- up for appropriate tax management. • Full compliance of tax planning and optimization activities with tax laws, supported by solid business reasons to sustain a credible long-term reputation with tax authorities. • Disclosure of meaningful tax information in a transparent way. • Continuous improvement and harmonization of tax processes through simplification and digital solutions. Based on our tax strategy, Allianz is committed to acting tr ansparently and responsibly in all tax matters and to working closely with the tax authorities to ensure we pay our fair share of taxes. Our processes and internal governance are implemented in line with our tax strategy to ensure full compliance in every jurisdiction where we operate. 04.4.2 Promoting tax transparency Our strong commitment to transparency is reflected in the publication of our Tax Transparency Report. 1 This provides insight into our approach to tax ation in line with our tax strategy, including key elements and principles that have an impact on decision making and compliance aspects regarding taxes. It discloses our total tax contribution as well as taxes paid in detail for the 10 countries most contributing to the Group’s total tax contribution and an overview of expanded country-by-country data. You can find further information on income tax charge per country in our Tax Transparency Report 2022. In compliance with the OECD Base Erosion and Profit Shif ting (BEPS) Actions, we prepare a Country-by-Country-Report for the Group and submit it to the German tax authority which shares the data with countries which have signed agreements allowing for exchange. As a member of the B Team – a coalition of business and civil society leaders advo cating sustainable business practices – Allianz promotes the B Team Responsible Tax Principles. 2 These provide a common framework of c ore principles and practical commitments for companies to demonstrate responsibility and sustainability in their tax approach. We aim to provide transparency of our appr o ach to tax and we encourage and support others to do the same. To facilitate the debate with relevant data, Allianz contributes to several studies relating to tax transparency (e.g. benchmarking studies). 1 The Allianz Tax Transparency Report 2022 contains disclosures related to GRI 207. 2 Find more details about the B Team Responsible Tax Principles here. Allianz Group Sustainability Report 2022 129