Investor Presentation
159
Investor presentation First six 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
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