Corporate governance

3M is committed to complying with all applicable tax laws, rules, regulations, and reporting and disclosure requirements. At the highest level, responsibility for taxes resides with 3M’s Global Tax Department. 

3M ensures the appropriateness of our accounting and tax records on an ongoing basis to enable us to meet our compliance obligations. Where required, 3M ensures public disclosures are published (PDF, 78.7 KB) according to regulations.

Transactions between 3M companies are conducted on an arm’s-length basis in accordance with appropriate transfer pricing rules. This ensures 3M’s profits are taxed where economic activities are performed.

Our approach to tax risk is similar to how we manage legal, compliance, and other business risks. Our internal framework supports compliance with tax laws and regulations to ensure we identify, assess, and mitigate tax risks, including consideration of both internal and external stakeholders. In the case of uncertainty, we engage external professional advisers.