Tax Policy
This section introduces initiatives we have in place at the Yamaha Motor Group for tax governance.
In our Code of Ethics, we declare that “We follow accounting and taxation procedures based on accounting and taxation-related laws and regulations, and prohibit any processes such as window dressing or concealment.” Based on this, we have established a basic tax policy and disclose information on corporate tax by major region, as well as a list of companies acting as tax-paying entities in each country and region.
Tax Policy
Basic Tax Policy
The Yamaha Motor Group has established the following basic tax policy. The tax function of the head office is to carry out required tax duties in accordance with the company’s tax policy and report the status of its progress to the director in charge of the corporate planning and financial domains in a timely manner.
Based on the company’s basic tax policy, the tax function of the head office provides employees throughout the company and within the Yamaha Motor Group companies with appropriate guidance on taxation. The head office also works to maintain a governance system related to taxation across the group itself.
Aims
Contributing to the nation and society through tax payment is one of Yamaha Motor's management principles and is part of the company’s global implementation of social responsibility. In pursuit of this philosophy, Yamaha Motor Group companies always pay their taxes both correctly and in a timely manner.
Three Basic Elements
| Compliance with Tax-related Laws and Regulations | The Yamaha Motor Group complies with applicable tax-related laws and regulations in the countries and regions where it operates and conducts our business activities in line with international standards such as OECD transfer pricing guidelines. |
|---|---|
| Maintaining Transparency | Yamaha Motor will disclose tax payment information to stakeholders including tax authorities in a timely and appropriate manner. |
| Relationship with Tax Authorities | Yamaha Motor strives to establish and maintain appropriate relationships with the tax authorities based in each country.
Yamaha Motor endeavors to be fully accountable to ensure against any discrepancies with the tax authorities on individual matters. In the event of a differing viewpoint with an authority, Yamaha Motor will always take appropriate measures to solve any dispute, and in this way, maintain our business value. |
Structural framework to secure the above three elements
| Tax Governance System | Yamaha Motor positions tax governance as management responsibility for the director in charge of corporate planning and financial domains and gives corporate tax function its executive authority. The Yamaha Motor group companies and their employees receive appropriate guidance from the head office tax function as required and carry out business activities in accordance with Group Financial and Accounting Detailed Guidelines. |
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| Tax Function Responsibilities | The head office tax function establishes and manages the tax governance system within the group based on this basic tax policy and monitors that business activities are properly conducted in accordance with this policy. |
| Business Activity Principles | Role and cost sharing among group companies are based on the beneficiary-to-pay principle. For regular transactions between group companies, we recommend the setting of transaction prices based on the arm’s length principle. Yamaha Motor does not use transactional structure that lack economic substance nor shift its profit to low-tax jurisdictions (so-called tax havens) , for the purpose of tax avoidance. |
| Double Taxation Avoidance | Through various activities aimed at avoiding double taxation, Yamaha Motor has established and maintains appropriate relations with tax authorities and works to optimize mid- and long-term tax related expenses. |
| Application of Preferential Tax Benefits | Yamaha Motor considers the applications of any preferential tax benefits and strives to optimize all tax-related expenses in the planning and promotion of its business activities. |
Tax Information
List of taxable entities
| Tax Jurisdiction | Constituent Entities Resident in the Tax Jurisdiction |
|---|---|
| Japan | Yamaha Motor Compay Limited |
| Japan | Yamaha Motorcycle Sales Japan Compay Limited |
| Japan | Y's gear Compay Limited |
| Japan | Yamaha Marine Hokkaido Manufacturing Co., Ltd. |
| Japan | Yamaha Kumamoto Products Compay Limited |
| Japan | Yamaha Amakusa Manufacturing Compay Limited |
| Japan | Yamaha Motor Powered Products Compay Limited |
| Japan | Yamaha Motor Electronics Compay Limited |
| Japan | Hamakita Industry Company Limited |
| Japan | Yamaha Motor Precision parts Manufacturing Company Limited |
| Japan | Yamaha Motor Hydraulic System Company Limited |
| Japan | Yamaha Marina Co., Ltd. |
| Japan | Yamaha Motor Biz Partner Co.,Ltd. |
| Japan | Yamaha Motor Solutions Company Limited |
| Japan | Sunward International Inc. |
| Japan | Yamaha Motor Engineering Company Limited |
| Japan | Sugo Company Limited |
| Japan | Nishi Nippon Skytech Company Limited |
| Japan | Yamaha Motor Mirai Company Limited |
| Japan | Yamaha Motor Robotics Holdings Co., Ltd., |
| Japan | SHINKAWA LTD. |
| Japan | SHINKAWA Technologies Ltd. |
| Japan | PFA Corporation |
| Japan | APIC YAMADA CORPORATION |
| Japan | CourieMate Co.Ltd. |
| Japan | Shizuoka BlueRevs Co.,Ltd. |
| United States of America | Yamaha Motor Corporation U.S.A. |
| United States of America | Yamaha Motor Finance Corporation U.S.A. |
| United States of America | Yamaha Motor Credit-Card Receivables Corporation. |
| United States of America | Yamaha Motor Receivables Corporation |
| United States of America | Yamaha Motor Golf-Car Lease Receivable Corporation |
| United States of America | Yamaha Motor Installment Receivables Corporation |
| United States of America | Yamaha Golf-Car Company |
| United States of America | Yamaha Motor Manufacturing Corporation of America |
| United States of America | Yamaha Jet Boat Manufacturing U.S.A. Inc. |
| United States of America | Skeeter Products Inc. |
| United States of America | Yamaha Marine Systems Company Inc. |
| United States of America | Siren Marine Inc. |
| United States of America | Connected Boat LLC |
| United States of America | Siren IOT, LLC |
| United States of America | Industrial Power Products of America Inc. |
| United States of America | Yamaha Motor Distribution Latin America Inc. |
| United States of America | Yamaha Motor Ventures, Inc. |
| United States of America | Yamaha Motor Exploratory Fund, L.P. |
| United States of America | Yamaha Motor Exploratory Fund GP, L.L.C. |
| United States of America | Yamaha Motor Sustainablity Fund, L.P. |
| United States of America | Yamaha Motor Sustainablity Fund GP, L.L.C. |
| United States of America | Shinkawa U.S.A., Inc. |
| Canada | Yamaha Motor Canada Limited |
| Canada | Yamaha Motor Finance Canada Limited |
| Netherlands | Yamaha Motor Europe N.V. |
| Belgium | Yamaha Motor Europe N.V. - Belgium Branch |
| France | Yamaha Motor Europe N.V. - France Branch |
| France | Yamaha Motor Finance France S.A.S |
| France | MBK Industrie |
| Italy | Yamaha Motor Europe N.V. - Italy Branch |
| Italy | Yamaha Motor Research & Development Europe S.r.l. |
| Italy | Yamaha Motor Racing S.r.l. |
| Germany | Yamaha Motor Deutschland GmbH. |
| Spain | Yamaha Motor Europe N.V. - Spain Branch |
| Spain | Motor Center BCN S.A. |
| Spain | Yamaha Motor Espana S.A. |
| Portugal | Yamaha Motor Europe N.V. - Portugal Branch |
| Austria | Yamaha Motor Europe N.V. - Austria Branch |
| Slovakia | Yamaha Motor Europe N.V. - Slovakia Branch |
| United Kingdom | Yamaha Motor Europe N.V. - Great Britain Branch |
| Turkey | Yamaha Motor Sanayi ve Ticaret Limited Sirketi |
| Sweden | Yamaha Motor Europe N.V. - Sweden Branch |
| Norway | Yamaha Motor Europe N.V. - Norway Branch |
| Denmark | Yamaha Motor Europe N.V. - Denmark Branch |
| Poland | Yamaha Motor Europe N.V. - Poland Branch |
| Czech Republic | Yamaha Motor Europe N.V. - Czech Republic Branch |
| Hungary | Yamaha Motor Europe N.V. - Hungary Branch |
| Germany | Yamaha Motor Europe N.V. - Germany Branch (IM) |
| Finland | Yamaha Motor Europe N.V. - Finland Branch |
| Finland | Inha Works Ltd. |
| Russian Federation | Yamaha Motor CIS |
| Australia | Yamaha Motor Australia Pty Limited |
| Australia | Ficeda Pty Limited |
| Australia | Yamaha Motor Finance Australia Pty Limited |
| Australia | Australian Motorcycle and Marine Finance Pty Ltd. |
| Australia | Yamaha Motor Insurance Australia Pty. Ltd. |
| New Zealand | Yamaha Motor New Zealand Limited |
| New Zealand | Yamaha Motor Finance New Zealand Limited |
| New Zealand | Yamaha Motor Insurance New Zealand Limited |
| Micronesia | TriFork Reinsurance Corporation |
| Indonesia | PT. Yamaha Indonesia Motor Manufacturing |
| Indonesia | PT. Yamaha Motor Nuansa Indonesia |
| Indonesia | PT. Yamaha Motor Parts Manufacturing Indonesia |
| Indonesia | PT. Yamaha Motor Electronics Indonesia |
| Indonesia | PT. Yamaha Motor Mold Indonesia |
| Indonesia | PT. Yamaha Motor R&D Indonesia (YMRID) |
| Indonesia | PT Otoraja Network Indonesia |
| Philippines | Yamaha Motor Philippines Inc. |
| Philippines | LIYAM Property Inc. |
| Philippines | Yamaha Robotics Philippines, Inc. |
| Thailand | Thai Yamaha Motor Company Limited |
| Thailand | Yamaha Motor Parts Manufacturing (Thailand) Company Limited |
| Thailand | TYMA Company Limited |
| Thailand | Yamaha Motor Electronics Thailand Company Limited |
| Thailand | Yamaha Motor Asian Center Company Limited |
| Thailand | Yamaha Robotics (Thailand) Co., Ltd. |
| Thailand | Yamaha Robotics Manufacturing Asia Co., Ltd. |
| Thailand | Apic Yamada Precision (Thailand) Co., Ltd. |
| Malaysia | HL Yamaha Motor Research Centre Sdn. Bhd. |
| Malaysia | Yamaha Robotics (Malaysia) Sdn. Bhd. |
| Vietnam | Yamaha Motor Vietnam Company Limited |
| Vietnam | Yamaha Motor Parts Manufacturing Vietnam Company Limited |
| Vietnam | Yamaha Motor Electronics Vietnam Company Limited |
| Vietnam | Yamaha Robotics Engineering Asia Co., Ltd. |
| Cambodia | Yamaha Motor Cambodia Company Limited |
| India | Yamaha Motor India Pvt. Ltd. |
| India | India Yamaha Motor Pvt. Ltd. |
| India | Yamaha Motor India Sales Pvt. Ltd. |
| India | Yamaha Motor Research and Development India Pvt. Ltd. |
| India | Yamaha Motor Electronics India PVT.Ltd. |
| India | Yamaha Motor Solutions India Pvt. Ltd. |
| India | Moto Business Service India Pvt. Ltd. |
| Pakistan | Yamaha Motor Pakistan Pvt. Ltd. |
| Singapore | Yamaha Motor Asia Pte. Ltd. |
| Singapore | Yamaha Motor Distribution Singapore Pte. Ltd. |
| Singapore | Yamaha Robotics Asia Pte. Ltd. |
| Taiwan | Yamaha Motor Taiwan Company Limited |
| Taiwan | Yamaha Motor Taiwan Trading Company Limited |
| Taiwan | Yamaha Motor R&D Taiwan Company Limited |
| Taiwan | Yamaha Motor Electronics Taiwan Company Limited |
| Taiwan | Topmost Consulting Company Limited |
| Taiwan | Yamaha Robotics Taiwan Co., Ltd |
| Korea | Yamaha Robotics Korea Co., Ltd. |
| China | Yamaha Motor (China) Co. Ltd (YMCN) |
| China | Shanghai Yamaha Jianshe Motor Marketing Compnay Limited |
| China | Zhuzhou Yamaha Motor Shock-absorber Company Limited |
| China | Yamaha Motor R&D Shanghai Company Limited |
| China | Yamaha Motor Power Products Jiangsu Company Limited |
| China | Yamaha Motor Electronics Suzhou Company Limited |
| China | Yamaha Motor Solutions Company Limited Xiamen |
| China | Yamaha Motor IM Suzhou Company Limited |
| China | Shinkawa (Shanghai) Co., Ltd. |
| China | Apic Yamada Technology (Shanghai) Co., Ltd. |
| China | Shanghai Apic Yamada Co., Ltd. |
| Republic of Panama | Yamaha Motor Co., Ltd. Panama |
| Kenya | Yamaha Motor Co., Ltd. Kenya |
| Morocco | Yamaha Motor Co., Ltd. Morocco |
| Uganda | WBPF Consultants.LTD |
| Nigeria | MOTO BUSINESS SERVICE NIGERIA LIMITED |
| Brazil | Yamaha Motor da Amazonia Ltda. |
| Brazil | Yamaha Motor do Brasil Ltda. |
| Brazil | Yamaha Motor Componentes da Amazonia Ltda. |
| Brazil | Yamaha Motor do Brasil Corretora de Seguros Ltda. |
| Brazil | Yamaha Motor do Brasil Servicos Financeiros Participacoes Ltda. |
| Brazil | Banco Yamaha Motor do Brasil S.A. |
| Brazil | Yamaha Administradora de Consorcio Ltda. |
| Brazil | Yamaha Motor do Brasil Logistica Ltda. |
| Brazil | Yamaha Motor Electronics do Brasil Ltda. |
| Argentina | Yamaha Motor Argentina S.A. |
| Argentina | Yamaha Motor Plan Argentina S.A. de Ahorro para Fines Determinados |
| Peru | Yamaha Motor del Peru S.A. |
| Peru | Yamaha Motor Selva del Peru S.A. |
| Uruguay | Yamaha Motor Uruguay S.A. |
| Colombia | Industria Colombiana de Motocicletas Yamaha S.A. |
| Colombia | Yamaha Motor Finance Colombia S.A.S. |
| Mexico | Yamaha Motor de Mexico S.A de C.V. |
| Mexico | Yamaha Motor Consorcio Mexico S.A. de C.V. |
| Mexico | Yamaha Motor Personnel Service Mexico S.A. de C.V. |
Tax Information
※ The above figures are based on Country-by-Country Report, submitted to Japanese Tax Authorities.
For the list of taxable entities, please follow the provided link here.
