The Intesa Sanpaolo Group complies with tax regulations in the belief that compliance is a fundamental contribution of citizenry supporting the community in which it operates. Intesa Sanpaolo's positive impact in this respect is confirmed by the disclosed forecast in the Business Plan of a total contribution from 2014 to 2017 of approximately 10 billion euro, an amount comparable to a budgetary stability law.
During 2014, the Group, in addition to indirect taxes of 952 million euro, recorded accrued direct taxes of 1,781 million euro, for the most part in Italy, where the majority of operating income was earned, as per the table below.
|Italy||Europe||Rest of the world|
The appropriate initiatives aimed at strengthening the commitment to combat assets in tax havens are also under implementation, envisaging the introduction of specific supervisory measures upon entry of the Group into new markets, with the assessment of the money laundering and tax risks connected to operations in legal systems with little transparency and/or through particularly complex corporate structures with limited transparency in terms of ownership structures. Moreover, new rules for the management and monitoring of tax risks connected to the transactions of customers established in Italy are under definition. Lastly, with regard to the Group's international subsidiary banks established in countries near Italy and operating in the private banking sector, policies dedicated to tax controls on deposits in banks of the Group by customers with a foreign tax residence were implemented in 2013. These policies were updated in 2014.