The amount of tax we generate and pay to governments, as well as our approach to managing tax affairs, is of considerable interest to many of our stakeholders.
Being able to demonstrate the contribution we make to host countries and communities through the payment of taxes is critical for building trust with stakeholders and in supporting our licence to operate.
We are strong supporters of tax transparency. We were an early supporter of the Extractive Industries Transparency Initiative and, via our parent company Anglo American, we remain an active participant.
Through Anglo American, we voluntarily provide information about our tax payments in each country. A detailed account of Anglo American’s tax payments is available in Anglo American’s annual Tax and Economic Contribution Report.
Throughout 2016 and for the first time in De Beers’ history, we also published sales figures for each of our ten Sights (sales events) and auction sales, which take place through the year.
We took this step to enhance transparency of our performance and reduce speculation. We believe that, by providing regular sales figures from each Sight, rather than just through annual reporting, we can help to boost confidence in the diamond sector. This approach adds to our quarterly reporting of diamond production from our mining operations.