Reckitt's approach to Tax
Tax regulation around the world is increasingly complex. It’s therefore important that business supports efforts to increase trust and understanding of the tax system. In the UK, all large companies are required to publish their tax strategies annually. We are fully aligned with HMRC’s goal of improving tax transparency and follow a clearly defined and rigorously monitored Tax Policy, the principles of which are outlined in our Tax Strategy Report.
We are working towards making more granular tax and financial information public by territory in the coming year. This will include our Full Year 2023 Country by Country report.
Reckitt by numbers
We operate in over 60 countries across six continents, and our products are sold in nearly every country in the world.
|Adjusted profit before tax
|Adjusted income tax expense
|Adjusted effective tax rate
*Financial years ended 31 December 2021 - 31 December 2022
In the year ended 31 December 2022, the Group paid £831m in corporate income tax worldwide. In addition to taxes generated, Reckitt also contributes to the economy by creating employment, developing workforce skills, making capital investments, purchasing goods and services from local suppliers where possible and making direct social impact investments.
Planning for sustainability
Sustainability and business success are inextricably linked. Businesses will only succeed in the long term if they are aware of the impact they have on people and the planet, work to create a more positive impact, and are transparent about how they do it.
As a responsible business, Reckitt is looking to embed sustainability into all our operations and innovations. Not only does this ensure we have a more positive impact on the communities we serve and the wider society we live in, it adds value for our business and stakeholders by mitigating against future risk. We recognise the importance of investing in innovation, both to deliver the highest quality and sustainable products. We partner with responsible businesses across our supply chain and in the communities we serve to drive more sustainable choices. Plastic packaging tax ensures our packaging and procurement teams work hard to source packaging that both maintains our product quality and supports our commitment to becoming a more sustainable business.