Wednesday, June 19, 2024

ALDI Australia signs up to voluntary Tax Transparency Code

The decision comes as the supermarket continues to invest in the Australian economy through its national expansion, store refurbishments, new product lines and supplier partnerships.

ALDI Australia CEO Tom Daunt said: “ALDI Australia is committed to operating with the highest levels of integrity and transparency in all aspects of our business, and our decision to sign up to the voluntary Tax Transparency Code (TCC) further reinforces this.

“As Australia’s fastest-growing supermarket (Nielsen Homescan 13 week to 1/4/17), we have a strong obligation to our customers, suppliers and the wider community, and take our corporate responsibilities seriously.

“ALDI supports greater tax disclosure in Australia, as this reflects our commitment to regulatory compliance and increased transparency on our tax strategy and corporate governance.”

ALDI is one of a small number of private companies to sign up to the TTC. As part of its commitment, ALDI says it will be publishing a voluntary yearly report on its website. The first report is due to be published in September.

ALDI currently operates more than 460 stores, employs 10,000 people and partners with almost 1,000 Australian suppliers to bring what it says is a different way of shopping to consumers.

Since establishing in Australia, ALDI has invested more than $4 billion in capital expenditure into the Australian economy.

All profits continue to be reinvested into its Australian operations, with the focus of these investments being directed towards store refurbishments and extensions, new store openings and improving the fresh offer to customers.

ALDI says it has consistently maintained an open and positive working relationship with the Australian Taxation Office. Since achieving profitability in the Australian market, ALDI has paid on average 31 per cent of pre-tax profits to the ATO.

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