On Pledge 2: Tide Reduction Net Zero – Tide will reduce 90% of our 2021 emissions per employee by 2030. In doing so, we will reduce emissions by 97% on a revenue basis. Pledges 1 and 2 will make Tide fully Net Zero by 2030.
What we mean by this is that Tide commits to reducing emissions by 97% on an economic basis as well as to 90% on a per employee basis. Therefore as Tide’s revenue increases our relative amount of emissions, we reduce to 97% less than our base year emissions, as measured on a revenue basis.Foreign Account Tax Compliance Act (FATCA), and the Common Reporting Standard (CRS).
What is an Active NFE?
An Active NFE earns a significant portion of its income from manufacturing, sales, providing services, or anything else that can be considered ‘active business operations’.
Active NFEs get more than 50% of their gross income from active trade or business, or have more than 50% of their assets in operational business activities that generate income.
What is a Passive NFE?
A Passive NFE gets more than 50% of its earnings as passive income – from interest, rents, dividends, and royalties.
There are different reporting requirements under FATCA and CRS, depending on whether a company is an Active or a Passive NFE. Understanding the difference between the two company types is crucial for international tax compliance.
