Anti Bribery and Corruption
- This position is in alignment with the Code of Conduct of Asian Paints Limited.
- At Asian Paints we are committed to maintaining highest ethical standards while undertaking fair business operations, following the best practices of corporate governance, upholding the Company’s reputation, and implementing and enforcing effective systems to detect, counter and prevent bribery and corruption.
- We uphold a zero tolerance position towards bribery and corruption.
- We have zero tolerance towards giving or offering to give, directly or through a third party, the undue incentive to a public servant or any business partner intending to obtain or retain business or an undue advantage in the course of our business
- We prohibit bribery and corruption in all our business dealings and in all forms like cash, gifts, entertainment, hospitality, kickbacks, etc.
- We maintain complete books of accounts and records that accurately and fairly reflect the transactions of the Company.
- We encourage our stakeholders to report suspected event of bribery and corruption by blowing the whistle under the Asian Paints Whistle Blower Policy available at https://www.asianpaints.com/WBPolicy.html.
- We are committed to continuously reviewing and updating our policies and procedures. Therefore, this statement is subject to modification. This position statement shall be reviewed once in three (3) years.
Human Rights
- This position is in alignment with the Code of Conduct of Asian Paints Limited.
- At Asian Paints we strive to respect and promote human rights by upholding the Universal Declaration on Human Rights of the United Nations in our relationships with our employees, suppliers, and business partners. We expect our employees, business partners and suppliers to avoid causing or contributing to human rights infringements through their business actions, including encouraging or permitting child labour. We respect the employees’ right to privacy within the ambit of law. We are not concerned with employee conduct outside the work environment unless such conduct impairs work performance or creates a conflict of interest or adversely affects Company reputation or business interests.
- Specific requirements relating to human rights, inter alia, include:
- Providing our employees with safe and humane working conditions, and maintaining compliance with all applicable laws, rules, and regulations including but not limited to fair compensation, hours worked, equity, safety, etc.
- Respecting employees’ right to freedom of association and recognition of employees’ right to collective bargaining, where allowed by law
- Prohibiting forced labour/employing people involuntarily under threat of penalty, including forced overtime, human trafficking, debt bondage, forced prison labour, slavery, or servitude
- Prohibiting child labour
- Ensuring no discrimination on the grounds including, but not limited to age, disability, gender, sexual orientation, political or other opinion, ethnic or social origin or religion
- Zero tolerance towards sexual harassment or harassment in any form across our operations and our value chain
- Right to privacy within the ambit of law.
- We follow the laws and regulations pertaining to human rights and conduct regular training sessions to instil the key principles of our Code of Conduct including the topics of human rights for creating awareness.
- We encourage our stakeholders to report suspected human rights violations by blowing the whistle under the Asian Paints Whistle Blower Policy available at https://www.asianpaints.com/WBPolicy.html.
- We shall undertake due diligence on Human Rights on a regular interval to identify, prevent and mitigate adverse human rights issues.
- We are committed to continuously reviewing and updating our codes, policies, and procedures. Therefore, this statement is subject to modification. This position statement shall be reviewed once is three (3) years.
Tax Governance
- Asian Paints believes in complying with laws in letter and spirit.
- Asian Paints recognises payment of tax as an integral element of its corporate responsibility and is committed to being tax compliant. Our responsible tax strategy (both direct and indirect taxes) consists of ensuring compliance with applicable tax laws in India and the countries that it operates in, thereby avoiding tax risks.
- We are committed to complying with statutory tax obligations and compliances in all the jurisdictions in which we operate in a responsible manner. This includes:
- A. Paying correct and appropriate taxes and levies in each of the jurisdiction where point of taxation is triggered and where it operates in accordance with the prevailing tax regulations.
- B. Filing accurate, timely tax returns as well as settling tax obligations as required.
- C. Disclosure of required details to the tax authorities.
- D. Complying with all applicable taxation rules and regulations.
- E. Taking decisions on tax matters by relying upon reasonable interpretation of the tax provisions, regulations, and rules of the country in which the Company operates.
- F. Filing of country-by-country reporting within timeline and support the OECD’s (Organization for Economic Cooperation and Development) work on Base Erosion and Profit Shifting (‘BEPS’).
- The Tax compliance is monitored by the Taxation function within the overall control and governance framework of the Company. We are committed to continuously reviewing and updating our policies and procedures. Therefore, this statement is subject to modification. This position statement shall be reviewed once in three (3) years.
