Company: HBCYF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001089113-25-000040
Chunk: 148

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-20
Form: 20-F
Chunk 148
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3: $1,052m) Bank levy $135m (2023: $57m) Irrecoverable VAT $1,098m (2023: $1,298m) Other duties and levies $229m 1 (2023: $249m) Taxes paid – by region Europe $2,780m (2023: $2,945m) Asia-Pacific $5,020m (2023: $2,488m) Middle East, North Africa and Türkiye $421m (2023: $296m) North America $291m (2023: $389m) Latin America $700m (2023: $655m) Taxes collected – by region Europe $4,214m (2023: $4,714m) Asia-Pacific $3,223m (2023: $3,226m) Middle East, North Africa and Türkiye $118m (2023: $77m) North America $1,025m (2023: $1,119m) Latin America $1,483m (2023: $1,680m) 1 Other duties and levies includes property taxes of $76m (2023: $91m).

| 80 | HSBC Holdings plcAnnual Report on Form 20-F |

ESG review | Governance

Conduct: Our product responsibilities Our conduct approach guides us to do the right thing and to focus on the impact we have for our customers and the financial markets in which we operate. It is embedded into the way we design, approve, market and manage products and services, with a focus on five clear outcomes: – We understand our customers’ needs. – We provide products and services that offer a fair exchange of value. – We service customers’ ongoing needs and put it right if we make a mistake. – We act with integrity in the financial markets we operate in. – We operate resiliently and securely to avoid harm to customers and markets. We train all our colleagues on our approach to customer and market conduct, helping to ensure our conduct outcomes are part of everything we do. Designing products and services Our approach to product development is set out in our policies and provides a clear basis on which informed decisions can be made. Our policies require that products must be fit- for-purpose throughout their existence, meeting regulatory requirements and associated conduct outcomes. Our approach includes: – designing products to meet identified customer needs; – managing products through governance processes, helping to ensure they meet customers’ needs