JSW Steel Group is committed to full compliance with all applicable laws and regulations across the countries where we operate. Our in-house tax team continuously monitors regulatory changes, including new taxes and amendments, and provides regular updates to senior leadership for guidance on complex issues.
We follow a robust internal tax framework that ensures independent technical and legal evaluations, consistent application across transfer pricing, income tax, cross-border taxation, and indirect taxes, and proactive risk assessment. For unique or contentious matters, we seek expert opinions from tax professionals and senior legal counsels, ensuring transparency and accuracy. All open tax matters are reviewed periodically and presented quarterly to the Audit Committee.
JSW Steel follows a robust and consistent tax framework across all matters, including transfer pricing, local income tax, cross-border taxation, and indirect taxes. Every tax position undergoes detailed evaluation based on the “more likely than not” principle, supported by technical analysis and reviewed by senior leadership before implementation. For complex or contentious issues, we seek expert opinions from tax professionals and senior legal counsels to ensure accuracy and compliance. Overseas entities are managed by professional boards and senior management in their respective jurisdictions, maintaining effective governance.
We stay aligned with OECD guidelines and actively monitor developments under Pillar 1 and 2 to ensure readiness for global minimum tax regimes. Our anti-tax-avoidance policy strictly prohibits the use of tax havens or structures lacking commercial substance, and related-party transactions are conducted on an arm’s-length basis in line with OECD principles. Proactive risk mitigation measures, strong internal controls, and periodic reviews by the CFO and Audit Committee ensure transparency, compliance, and timely response to regulatory changes.
Our tax team remains abreast of developments in the tax regulations and jurisprudence relevant to the tax matters of the Company.
In case any change in a material key predetermined tax position is anticipated on account of developments in law, the tax position is re-visited by the tax team.
Consultations are sought from external tax advisors if any change in tax position is envisaged.
The material tax positions are discussed with the audit committee and are revised if necessary.
We are committed to transparency in all tax and regulatory matters, including clear disclosure of positions challenged by tax authorities. We classify open tax matters as Probable, Possible, or Remote based on outcome likelihood and conduct periodic assessments.
| Classification | Treatment & Disclosure |
|---|---|
| Probable (Risk of non-acceptance) | Appropriate provisions are made in the financial statements. |
| Possible (Uncertain matters) | Reported as contingent liabilities in the Annual Report. |
| Remote (Low likelihood) | Neither provided for nor disclosed. |
All classifications are reviewed by third-party tax consultants, and outstanding liabilities are disclosed as Key Audit Matters in the statutory audit report and as contingent liabilities in the Annual Report. This tax exposure analysis is reviewed by senior leadership and presented quarterly to the Audit Committee, ensuring robust governance and compliance.
For more details, please refer to our Tax Transparency Report.
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