We view tax transparency and disclosure as an essential element of good governance.

NAB has a group wide, board endorsed tax policy that is subject to annual review and the Chief Tax Officer reports regularly to the Board.

NAB is a major Australian multinational company which, together with its subsidiary companies and foreign branches, makes a significant contribution to the Australian economy and business landscape and to the offshore economies in which it conducts financial services activities.

The corporate behaviour of the Group impacts many stakeholders including customers, shareholders, employees and governments. As a corporate leader, the Group commits to strong corporate values and behaviours, including in its approach to tax.

Refer to the Statement of Tax Principles for a summary of NAB's Tax Policy.

For further information on NAB's 2015 tax expenses and effective tax rate please refer to page 78 of NAB's 2015 Full Year Results

2014 Global Tax Expense

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