Colruyt Group’s Corporate Tax Commitment and Social Responsibility in 2022/23 Financial Year

2024-01-14 19:24:00

The retailer notably highlighted that it was subject to corporate tax in all the countries where it operates, and that it had paid almost 25% in taxes in the 2022/23 financial year. “We positively appreciate the commitment to the purchasing power of the consumer,” however, underlined the group.

In his speech on Sunday in Anderlecht, PTB president Raoul Hedebouw presented figures showing that Colruyt had made profits of 1.8 billion euros in 2022, on which 0.27% tax had been paid.

According to the 2022/23 balance sheet, in which the Colruyt Group presents its results according to international IFRS standards, around 62.2 million euros in corporate taxes were paid in all countries where the company operates and its subsidiaries, on a consolidated profit of 250.9 million euros, or approximately 24.8%. For comparison, the corporate tax rate is 25% in Belgium

In addition to this particular tax, the retailer recalls having paid, during the 2022/23 financial year, a total contribution of 974.5 million euros to the Belgian Treasury, representing 46.8% of the net added value generated by Colruyt in Belgium.

Finally, the group emphasizes that it is “deliberately choosing to create sustainable jobs and promote dignified work”. Thus, as of March 31, 2023, Colruyt Group had 33,384 employees, including 28,332 in Belgium, according to its own figures. The company also describes itself as “the only Belgian retailer” to “guarantee the best prices for each product”.

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