Investor Presentation First Nine Months of 2022
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Investor presentation First nine months of 2022
Novo Nordisk has a sustainable tax approach
Novo NordiskⓇ
Sustainable tax approach approved by the BoD
1 | Commercially driven
Business structures driven by commercial considerations
Pay taxes where value is generated
Effective tax rate of 20 - 22% for 2022
2 | Responsible
•
No artificial structures or tax havens
Transfer pricing principles compliant with OECD guidelines
Advanced pricing agreements covering >65% of revenues
3 | Transparent
Open about tax practices and maintain cooperative
relationships with tax authorities
Tax approach published on novonordisk.com
Total tax contribution in 2020 around DKK 32 billion
Corporate income taxes by region - three year average in DKK billion
- EMEA (excl. Denmark)
Region
IP rights¹ Production² Sales³
Corporate
income taxes
International Operations
9.3
-
Denmark
8.0
0.6
0.4
0.3
1.3
1.2
10.6
- Region China
- Rest of World
North America Operations
- The US
Total
Share of category
3
1 Intellectual property rights based on sales from where intellectual property rights are located, 2 Production based on production employees in the region, ³ Sales based on the location of the customer.
OECD: The Organisation for Economic Co-operation and Development
Note: All figures and graphs are average 2019-2021View entire presentation