Press Release no. 05/2024
cBrain wins the Tax Governance Top Rating 2024 for mid cap companies
Copenhagen, May 16, 2024
With 12 points out of a possible 14, cBrain (NASDAQ: CBRAIN) came top of the list in this year's Tax Governance Rating for mid-cap companies as compiled by “Økonomisk Ugebrev”.
cBrain is the only mid-cap company that publishes a complete list of the tax incentives that the company uses and it is the only mid-cap company that provides information about the company's total tax footprint.
At cBrain we want to be open and transparent about how we conduct ourselves .and see this as good business practice given our public sector clients. Public authorities not only want to buy the best product for the price but also want to do business with suppliers who conduct themselves in a socially responsible way.
In 2018, a board committee began the task of formulating a specific tax policy. This resulted in the publication in 2019 of our Tax Policy (www.cbrain.com/corporate-governance). The basic principle of the policy is "cBrain pursues ethical values and behaviours in its objective of being a “Good Citizen”.
As a supplier to the public sector, with customers in 5 continents and international revenue making up 35%of the company's total turnover, credibility and trust are essential. Openness and transparency are keywords in our Code of Conduct and are the foundation of our Tax Policy.
We believe that our Tax Policy gives us a competitive advantage in the long term. Digitization has become a decisive parameter for the public sector when it comes to delivering on the demands and expectations that politicians, citizens and companies place on the public sector. With the management platform F2, cBrain is a one product company. In addition to having the best product, you must also demonstrate that the public sector can trust you in the way you conduct your business.
Best regards
Per Tejs Knudsen, CEO
Inquiries regarding this Press Release may be directed to
Ejvind Jørgensen, CFO & Head of Investor Relations, cBrain A/S, ir@cbrain.com, +45 2594 4973
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