As a multinational group, we provide a significant contribution to the economic and social development of the countries in which we operate.


Our economic contribution in the various countries where we are present is also expressed at tax level and is divided into various types of taxes, which can be grouped into the following categories:

  • income tax, such as corporation tax;
  • property taxes, levied on ownership, sale or lease of property;
  • taxes on labour, which include taxes collected and paid to the tax authorities on behalf of employees;
  • indirect taxes levied on the production and consumption of goods and services, such as VAT, customs duties, etc.

The taxes and tax rates calculated with the direct economic value generated and distributed method are shown below.


  2021 2022
ITALY 67.5 6.0
NORWAY 0.3 4.9
ROMANIA 3.1 1.4
NORTH AMERICA 0.2 (16.2)
TOTAL 69.7 6.7


The data refer to the entire Fincantieri Group.
The changes in taxes depend on the financial performance of the activities carried out, taking into account that the local tax regulations to determine the taxable amounts, starting from the economic results, might lead to differences. For Italy the change is attributable to the significant decrease in the Parent Company's taxes. For North America the tax benefit is mainly due to the recognition of deferred tax assets generated in relation to losses on orders recognised during the year. For South America the change is due to the reversal to the income statement of deferred tax assets deemed no longer recoverable.

In 2022 the Group reported an effective corporate income tax rate of 2% (72.6% in 2021).

The Group tax rate depends on the geographical distribution of pre-tax profits and losses and on the income tax rules applicable in the different Countries, but can also be influenced by specific contingent situations. As for 2022 in particular, the tax rate is mainly affected by the non-recognition of deferred tax assets on the losses realized during the year by some subsidiaries.


Since 2021, the Group has adopted a tax strategy which, inspired by the principles set forth in the Code of Conduct, defines the objectives of the Group in relation to the management of tax aspects and sets the guidelines for their concrete implementation.


Governance and business integrity: 2018-2022 Sustainability Plan objectives and targets

Commitments Objectives Description/ Target Benefits Status Timetable

Adoption of preventative measures and policies geared towards the prevention of corruption in all spheres of influence

Definition of the tax strategy

Definition of the tax strategy through the preparation of the tax policy containing the Group's principles and commitments with regard to tax compliance

• Improve the Group’s tax compliance

• Greater alignment between the tax strategy and sustainability strategy



Fincantieri has drawn up the Tax Strategy, approved by the Board of Directors of Fincantieri S.p.A., a document inspired by the principles set forth in the Code of Conduct, which defines the Group’s objectives in relation to tax aspects and sets the guidelines for their concrete implementation.


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