Governance

Governance

Paying Our Fair Share of Taxes

Toromont believes in paying our fair share of corporate taxes. Doing so ensures we contribute to the development and wellbeing of society including its critical infrastructure.

By infrastructure, we mean public transit, roads, ports and airports that are used to move people, and goods throughout our territories – including Toromont employees and products – as well as hospitals, cultural and recreational facilities that are major users of Toromont equipment, technology and services. We acknowledge the mutual benefit of tax-paying activities on our business.

2021 Key Outcomes and Actions

  • tied incentive compensation for senior leaders to safety outcomes
  • developed a performance-based long-term incentive program for introduction in 2022
  • confirmed employee adherence with our Code of Code
  • paid taxes at our effective tax rate of 27.2%
  • maintained targeted recruitment activities