Hindustan Zinc, a Vedanta Group company, has paid about 73 per cent of its revenues to exchequer last fiscal as per the sixth Tax Transparency Report.
The company has contributed $3 billion (about ₹24,600 crore) to the exchequer last fiscal and over $10 billion (about ₹80,113 crore) in the last five years.
In the last 5 years, Hindustan Zinc has paid royalties to Rajasthan government and has made contributions to the District Mineral Foundation and National Mineral Exploration Trust to the tune of ₹15,615 crore. While the company has paid ₹12,594 crore as taxes on income which comprises corporate income-tax in the last five years and reflected in the annual income tax returns. Through indirect taxes, the company has paid ₹26,557 crore to the Central and State governments on the sale of goods such as the Central Goods & Services Tax and the State Goods & Services Tax.
Voluntary tax disclosures through publication of Tax Transparency Report have been a pro-active initiative undertaken by the company, reiterating its commitment to transparency and good tax practices.
Since the year of disinvestment, Hindustan Zinc has contributed over $5 billion (₹41,000 crore) as dividend to government.
The company considers tax as an important part of its environmental, social and governance agenda and its Tax Transparency Report helps to disseminate information about Hindustan Zinc’s contribution to economic development, improve stakeholders’ understanding of its business, build trust and improve transparency of tax payments.