- This award shows that Hindustan Zinc is fully compliant to taxation laws and rules and indicates the robustness of the company’s tax function in terms of compliances and reporting
- The company recently launched its 5th Tax Transparency Report which serves the purpose of transparent tax disclosures and the strategies that guide its tax governance principles
Udaipur, 8th Nov 2022: Hindustan Zinc, a Vedanta Group-owned zinc, lead, and silver producer, has been awarded Jury award under the “Non-Deemed Corporate above Rs 5000 crore turnover” category at the TIOL 2022 awards held in New Delhi. Hindustan Zinc holds the first position while, Zydus Lifesciences Ltd. holds the second position, and Tata Power holds the third position. The award was bestowed upon Hindustan Zinc by an eminent jury of Justice A.K. Pattanayak, former SC Judge, Justice S.K. Singh, former SC Judge, Mr. A.N. Jha, former Finance Secretary & Vice Chairman of the 15th Finance Commission, Mr. Ramesh Abhishek, former Industry Secretary to the Govt. of India, Ms. Praveen Mahajan, former CBEC Chairperson, former CBDT Chairman, Mr. Ashok Bhattacharya, Editorial Director of Business Standard, Dr. Girish Ahuja, Member, Task Force on Direct Tax Code, an eminent author, Ambassador Ajit Kuma, Former Permanent Representative of India to United Nations Office and Mr. Anup Vikal, CFO, Head of Legal & CSR- Nayara Energy Ltd.
On this achievement, Mr. Arun Misra, CEO, Hindustan Zinc, said, “We’re glad that our organization’s adoption of the best tax practises resulted in recognition on such an esteemed platform. Our intent is to develop & sustain positive relationships with the locals, government, and communities where we operate through transparent & robust tax compliances and reporting.”
Adding to that, Mr Sandeep Modi, Interim Chief Financial Officer, Hindustan Zinc, said, “The global tax environment has entered a new era of tax transparency and at Hindustan Zinc we aim to imbibe the highest standards of integrity with respect to tax compliance & reporting. This award is a testament to our standards in delivering value & transparency to all our stakeholders.”
The aim of this award is to ‘Motivate, Encourage, and Acknowledge the Contribution of Compliant Taxpayers.’ This Award is testimony that Hindustan Zinc is fully compliant with taxation laws and rules, which indicates the robustness of its tax function in terms of compliance and reporting requirements. The company has contributed more than USD 9 Bn to the exchequer in the last 5 years, while in FY 2021–22 the total contribution to the exchequer was over USD 2 Bn which plays an important part in wider economic and societal impact and therefore plays a key role in the development of the country.
Hindustan Zinc strives to be fair, honest, accountable, and ethical in its conduct and is committed to following the letter and spirit of the applicable tax rules and regulations of the jurisdictions where it operates. The company maintains the highest standards of integrity with respect to tax compliance and reporting.
About Hindustan Zinc Limited
Hindustan Zinc Limited (BSE: 500188 and NSE: HINDZINC), a Vedanta Group company, is the world’s largest integrated zinc producer and the third-largest silver producer. The company supplies to more than 40 countries and holds a market share of about 75% of the primary zinc market in India. Hindustan Zinc has been recognized as the world’s most sustainable company in the metals and mining category for the second consecutive year by the S&P Global Corporate Sustainability Assessment 2024, reflecting its operational excellence, innovation, and leading ESG practices. The company also launched EcoZen, Asia’s first low carbon ‘green’ zinc brand. Produced using renewable energy, EcoZen has a carbon footprint of less than 1 tonne of carbon equivalent per tonne of zinc produced, about 75% lower than the global average. Hindustan Zinc is also a certified 2.41 times Water-Positive company and is committed to achieving Net Zero emissions by 2050 or sooner. Transforming the lives of 1.9 million people through its focused social welfare initiatives, Hindustan Zinc is among the Top 10 CSR companies in India. As an energy transition metals company, Hindustan Zinc is pivotal in providing critical metals essential for a sustainable future.
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