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Bayer paid 124 million euros in corporate tax to Finland in 2020

A blue and white infographic with the words women 2020.

In 2020, Bayer paid a total of 124 million euros in corporate tax to Finland. It consists of the combined taxes of Bayer Nordic SE in Espoo and Bayer Oy in Turku. In the same year, the company made significant progress in meeting its climate targets by reducing its emissions by 80 percent, invested and hired about 150 employees in Finland despite the pandemic. Bayer invests about 80 million euros in Finland each year and recently published a significant additional investment of 250 million in the Product Supply Center in Turku. Recruitment has remained active this year: in 2021 Bayer has hired about 140 employees and around 50 positions are open.
 

Bayer is one of the biggest corporate taxpayers in Finland. Last year Bayer paid a total of approximately 124 (123.964 ) million euros in corporate tax, consisting of the combined taxes paid by the company Bayer Nordic SE (68.306 M€) and its subsidiary Bayer Oy (55.658 M€). 
 

Bayer Nordic's CEO Miriam Holstein is proud with the tax result that was achieved in the same year as Bayer did significant climate work and reduced its emissions by up to 80%, invested and recruited more experts despite the pandemic.
 

“Bayer is a concrete example of how a sustainable way of operating and the company's financial success do not contradict but support each other.” 
 

Considerable taxes and reinforcement of the local functions with further investments reflect Bayer's commitment to Finland. The Supply Center in Turku is one of Bayer's most important pharmaceutical plants worldwide. Products are exported from Turku to more than 130 countries, and in 2020 the sales of the IUS family amounted to nearly 1.1 billion euros.

Combined taxes to Finland exceed one billion


Bayer established the headquarters for the Nordic organization in Finland in 2011. In addition to Finland, the region consists of the Baltics and other Nordic countries. Between 2011 and 2020, Bayer has paid more than 1.171 billion euros (1171.562 M€) in corporate tax to Finland. 
 

According to Bayer Nordic's CEO Miriam Holstein, it is important for Bayer to take social responsibility and ensure that taxes are paid where value is created.


“Bayer has a strong footprint in Finland, and we want to be strongly involved in building the Finnish society also in future," says Holstein.
 

According to Holstein, from the perspective of an international pharmaceutical company, Finland is a good place to invest. This is supported by legislation that enables production and research, as well as a predictable and stable operating environment.
 

“Finland is an excellent investment environment - we have a good infrastructure, education that enables high expertise, a long tradition of top-class research, and extensive collaboration between the public and private sectors.” 
 

However, according to Holstein there is always room for improvement and strengths need to be further developed, as the world around us is constantly evolving. 
 

“Continuous development of excellence is important to us. It is also important to find ways to attract and retain foreign experts in Finland. I believe that investing in innovation, top-class research and high level of education will keep Finland competitive in the global environment in future as well."