Customers


The Taxes We Pay and Collect


$2.2 billion


contributed by TD in taxes borne in 2013.


$1.9 billion


collected in employee-related and customer-related taxes on behalf of governments.


Income taxes Payroll taxes


Property and business taxes Transactions and sales taxes


Capital and insurance premium taxes


51% 18% 8%


17% 6%


TD collects taxes on behalf of governments in the countries and regions where we operate. We assume the administrative costs associated with this activity, understanding and supporting the benefits to the broader economy. The taxes we collect include:


Employee-related:


• The employee portion of payroll taxes • Income tax on behalf of employees


Customer-related:


• Property tax on behalf of customers who are mortgage holders


• Transaction tax on customer transactions to which sales taxes apply


• Withholding taxes on behalf of investors


Workplace Types of Taxes Borne by TD


Environment Our Tax Policy


We strongly support the view of the Organization for Economic Co-operation and Development (OECD) that both taxpayers and tax authorities benefit from increased disclosure and transparency. Improved relationships mean tax authorities can make more effective risk assessments and reduce enforcement costs, and taxpayers can better manage tax risks and reduce compliance costs.


To help tax authorities keep abreast of changes in the banking business, we hold Commercial Awareness Sessions on a wide range of aspects of banking. These sessions provide a forum for the discussion of tax trends and issues. Should a dispute arise with a tax authority as to how the law should be interpreted and applied, our policy is to resolve any issue promptly in a transparent and collaborative manner.


Communities


How We Operate


98


+ Fair share and fair taxation; a balancing act (PDF)


TD 2013 Corporate Responsibility Report


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