In October 2020 Ethical Consumer viewed Natura's list of subsidiaries on the D&B Hoovers corporate database. This showed that the company had a number of subsidiaries in jurisdictions considered by Ethical Consumer to be tax havens at the time of writing, including Hong Kong, the Netherlands, Singapore, Ireland, Jersey, Guernsey and Macau. Of these, five were holding companies, which was a high risk company type for likely use of tax avoidance:
AESOP HONG KONG LIMITED in Hong Kong
Natura (Brasil) International B.V. in the Netherlands
The Body Shop Benelux B.V. in the Netherlands
G.A. HOLDINGS (1979) LIMITED in Jersey
G. A. HOLDINGS (GUERNSEY) LIMITED in Guernsey
An internet search using the search terms “Natura tax policy statement country” found no country-by-country financial information or reporting (CBCR), nor clear public tax statement confirming that it was this company’s policy not to engage in tax avoidance activity or to use tax havens for tax avoidance purposes, including a narrative explanation for what each group entity located in a tax haven was for, and why it was not being used for purposes of tax minimisation.
Given that Natura had two or more high risk subsidiaries in jurisdictions on Ethical Consumer's tax haven list and no country-by-country financial information, nor adequate policy statement and narrative explanation, the company received Ethical Consumer's worst rating for likely use of tax avoidance strategies and lost a full mark under Tax Conduct.