Legislation and regulations
Beter Bed Holding wants to do business successfully in an honest manner. This means neither corruption nor non-compliance with legislation and regulations will be tolerated, and there will be no attempts to influence government or treat competitors unfairly: ‘Fair Business’ in the materiality matrix.
In 2015, Beter Bed Holding opted to adhere to OECD guidelines more closely. In doing so the company responds to upcoming, more stringent legislation and regulations on CSR reporting. The guideline stipulates that 'companies of social interest' must be transparent about non-financial performance, such as strategy, performance and risks in the fields of environment, working conditions, human rights, corruption and diversity in senior management.
Continued compliance with legislation and regulations, which forms part of the company's everyday business, is also demonstrated by the fact that there were no fines or penalties imposed for non-compliance with legislation and regulations (including in the fields of environment, working conditions and product responsibility) in 2015.
Tax avoidance received widespread media coverage in 2015. In addition, the OECD announced a series of measures in the autumn of 2015 to combat Base Erosion and Profit Shifting (BEPS). This was one of the reasons for Beter Bed Holding to formulate its tax policy more clearly. The fundamental principle is that the organisation wishes to pay its fair share of taxes in the countries in which it operates. The organisation also wishes to make it clear that it will not set up any structure in order to avoid tax.
Beter Bed Holding believes that it contributes fairly to the countries in which it operates by paying various taxes and social security contributions. These can be broken down as follows (in €1,000s):
Value added tax
Wage tax and social security contributions
The amounts above are based on amounts that have actually been paid. That means that the income tax reported above is the total amount paid to the relevant governments (based on the net profit determined for taxation purposes). Value added tax refers to the net tax paid less withholding tax, and wage tax and social security contributions refer to the tax paid by group companies on wages plus employer and employee contributions. Dividend tax also relates only to the 15% tax that Beter Bed Holding has withheld from the payment of dividends.
No contributions are made to political parties, politicians or related institutions; employees may not make any contributions from the funds, property or services of Beter Bed Holding to political parties or their representatives, nor may the organisation exert any pressure on employees to lend any political or financial support.
Supervision and trust
Trust in products and advice is essential to Beter Bed Holding's raison d'être. Regular audits by government agencies and other bodies are drawn on to strengthen processes where possible.
The Netherlands Food and Consumer Product Safety Authority (NVWA) carries out product safety system inspections and audits at Beter Bed. The NVWA has confidence in the way Beter Bed has organised and implements its product safety process. The outcome of the system inspection and audit is that until the end of 2016, Beter Bed is only subject to limited supervision by the NVWA on these aspects. That is the highest mark of trust that the government can assign to an organisation in the area of product safety.
Beter Bed Holding seeks to act in an honest and ethical manner towards competitors. Company employees are not permitted to discredit any competitor or disadvantage them by illegal means. Beter Bed Holding does not abuse any position of authority or make any agreements, confidential or otherwise, with third parties that breach the competition regulations in force.