BAM Tax policy statement

At BAM, our corporate purpose is to provide clients with best-in-industry capabilities, contribute to the global movement toward sustainability, provide employees a safe and rewarding work environment and generate attractive returns for shareholders. Recognising the role tax plays in this regard, BAM has adopted tax principles that balance the interest of the various stakeholders.  

The BAM Code of Conduct and BAM Values (collaborative, inclusive, ownership, reliable and sustainable) are a common foundation for how we work, set the standard for our behaviour and provide a compass for decision making. Derived from and in line with these values and code of conduct, BAM has adopted a tax policy. This tax policy is intended to set forth BAM’s tax strategy, a commitment to the application of good tax practices and the underlying tax principles.

The BAM tax policy has been approved by the Executive Committee and the Audit Committee.


The tax policy applies to all companies of the Group, as well as to all investees over which BAM has effective control. When BAM has no effective control, BAM will promote the alignment of their own tax policy with that of BAM. 

The tax policy applies to all taxes that BAM encounters in the course of its business. BAM’s tax department supports awareness for and compliance with the tax policy.

Approach to tax

Tax is an important subject for BAM and its stakeholders. Tax payments are not just a cost factor only, but also a contribution to society and seen as a means for social economic cohesion, sustainable growth and long-term prosperity. Therefore, BAM strives to come to a responsible approach to tax as an integral part of its corporate social responsibility agenda. BAM will seek to align the long-term interests of all its stakeholders, including clients, employees, business partners, investors, and wider society.

BAM has adopted the VNO NCW Tax Governance Code.

The following BAM tax principles guide our decisions on tax matters:

  • Accountability and governance
    Tax is a core part of corporate social responsibility and governance and is overseen by the Executive Board. We have a tax control framework that enables us to identify and assess tax risks, define our tax risk appetite and monitor and report tax controls.
  • Tax compliance 
    We are committed to comply with the letter, the intent and the spirit of the tax legislation and transfer pricing rules of the countries in which we operate and to pay the right amount of tax at the right time. 
  • Tax transparency and reporting 
    We regularly provide information to our stakeholders, including investors, policy makers, employees and the general public, about our approach to tax and taxes paid.
  • Relationships with tax authorities 
    We seek, wherever possible, to develop cooperative relationships with tax authorities based on mutual respect, transparency and trust. 
  • Business structures 
    We will only use business structures that are driven by commercial considerations, are aligned with business activity and have genuine substance. 

April 2023