Group Tax Department organization

~*~

GTD's main missions

🌐 The Group Tax Department (GTD), through its multidisciplinary international team of proven experts in all tax dimensions and tax accounting areas, is dedicated to partnering with the business and effectively managing all matters relating to French and international tax to protect the AXA Group's interests.

🧭 GUIDE the AXA Group tax strategy, approach and communication on any tax matter, and the direction of the AXA tax family (circa 150 experts worldwide):

• Define and implement Group tax strategy and guidelines on technical tax topics, ensuring entities' full compliance
• Proactively manage tax risks, implement control processes, and drive planning strategies
• Lead Group tax litigations and audits
• Head the Group's annual effective tax rate, the consolidated tax reporting, and all tax communication to Management and Group auditors
• Oversee the Group-wide implementation of the Pillar 2 OECD project
• Manage the annual publication of the Group Transfer Pricing Master File, the Group Tax Transparency Report and Country-by-Country Reporting
• Steer any tax lobbying efforts
• Lead, rally and reinforce the AXA Tax community, notably through bi-annual tax reviews, monthly tax calls with every local team, international tax committee meetings, technical working groups, a mentoring program, and promoting new technologies and their adoption

🤝 TEAM UP with the Group's 14 local and business tax teams in a collaborative partnership mindset:

• Lend support for tax audits and litigations
• Partner on all M&A initiatives, cross-border program implementations, financing transactions, tax planning projects, tax leakage reductions, and tax risk mitigations
• Oversee tax reporting and forecasting, Deferred Tax Asset (DTA) protection and monetization
• Maximize profit repatriation through withholding tax management and mitigation
• Enhance and simplify Group–entity communication and collaboration

🚀 DRIVE an ever-stronger business partnership on all the Group teams' transversal initiatives:

• Contribute to the success of all M&A projects
• Work hand-in-hand with Group teams to effectively integrate tax considerations in their activities, including investments, reinsurance, treasury, legal, communication (brand), human resources, and philanthropic initiatives
• Be a reliable, reactive and trustworthy business partner

~*~

Olivier Tourtoulou – Global Head of Tax

Olivier Tourtoulou
Title	Global Head of Tax
Email	olivier.tourtoulou@axa.com
Telephone	+33 6 30 91 50 83
Background	Previous tax lawyer admitted to the Paris Bar
Languages	English and knowledge of Spanish
At AXA since	July 2011

📋 Main missions:

• Management of the Group Tax Department as well as the global AXA tax family
• Define AXA tax strategy and ensure full implementation and compliance everywhere
• Represent AXA in lobbying efforts
• Lead the communication on tax matters to Management
• Drive Group tax audits and litigations, and the global relationship with French tax authorities
• Monitor the tax impacts on the P&L of the Group

🏛️ Professional associations:

• IACF (Institute of Tax Advisors Lawyers)
• IFA (International Fiscal Association – Member of the Scientific Committee)
• European Roundtable of Heads of Tax of Insurance (led by PwC)

~*~

Gerard Bayona – Deputy Head of Tax

Gerard Bayona
Title	Deputy Head of Tax
Email	gerard.bayona@axa.com
Telephone	+34 691 416 668
Background	Diploma in Business Administration and Master in Tax Law
Languages	Spanish (native), English, French, and knowledge of German
At AXA since	February 2018; in GTD since December 2024

📋 Main missions:

• Based in Madrid, mainly in charge of international tax matters and transformation initiatives
• Contribute actively to the management of the Group Tax team and the AXA Tax Family on all dimensions (goals, tax strategy, tax planning, etc.)
• Promote transformation of the tax function, including AI initiatives, knowledge management and organizational aspects
• Monitor international tax matters across different locations
• Promote best tax practices and tax standards within the Tax community
• Support the Tax Reporting team
• Key partner of DCFG on all international M&A deals
• Management of tax risks
• Provide support to the Tax community and serve as Group contact
• Preserve tax reputational aspects
• Supervise and promote proper interaction with other Group departments
• Promote cross-border lobbying on tax reforms

🏛️ Professional association (GTD representation):

• AEDAF (Spanish Tax Advisory Association – Working Group of big corporations)

~*~

Thierry Sarriau – Head of Tax Accounting and Reporting

Thierry Sarriau
Title	Head of Tax Accounting and Reporting
Email	thierry.sarriau@axa.com
Telephone	+33 6 82 60 74 87
Background	DESCF (Diploma in Advanced Studies in Accounting and Finance)
Languages	French, English, and Spanish
At AXA since	March 2005

📋 Main missions:

• Contribute to the management of GTD and the AXA tax family
• Drive Group tax accounting guidelines and technical positions
• Analyze, understand and optimize income taxes in IFRS accounts
  • Analyze ETR and deferred taxes in IFRS consolidated accounts
  • Lead communication on tax accounting matters to Management and auditors
  • Assist entities and finance teams on all accounting tax topics in IFRS and Solvency; train them when necessary
  • Monitor UTPs reporting and management, as well as DTAs monetization
  • Ensure IAS 12 full compliance and lobbying initiatives on tax accounting
  • Analyze IFRS tax impacts of GAAP changes, tax law reforms and any M&A transactions
• Supervise the CBCR and tax transparency initiatives
• Implement the Global OECD Minimum Tax initiative (Pillar 2) through a strong partnership with PBRC and entities
• Manage tax processes related to deferred compensation plans

🏛️ Professional association:

• AXA representative in ACTEO (association for the participation of French companies in international accounting harmonization)

~*~

Elisa Tran Duc – Personal Assistant

Elisa Tran Duc
Title	Personal Assistant
Email	elisa.tranduc@axa.com
Telephone	+33 6 30 45 99 26
Background	Diploma in Administrative Assistance (French Advanced Technician's degree)
Languages	French and English
At AXA since	December 2025

📋 Main missions:

• PA to the Group Tax team
• Manage changing schedules and plan meeting rooms accordingly
• Coordinate all business-related trips
• Provide logistical support to the teams
• Handle diverse HR/IT requests (onboarding and offboarding of employees, IT requests, etc.)
• Manage paper and network archives
• Support the team in sending out communications to various stakeholders (tax authorities in particular)
• Manage the GTD SharePoint and proactively propose improvements
• Provide mutual back-up support to other teams when needed
• Manage the Coupa process for the team: issue purchase orders, communicate with providers, and ensure timely payment

~*~

Teresa Joia – Senior Tax Manager

Teresa Joia
Title	Senior Tax Manager
Email	teresa.joia@axa.com
Telephone	+33 7 87 40 00 52
Background	Master 2 in Taxation and Business Law
Languages	Portuguese (native), French, English, and Spanish
At AXA since	January 2016

🌍 Scope:

• Geographical: IMA, US and Japan
• Business lines: AXA France units (France, Partners, Climate, AXA Banque – with Catherine), AXA XL

🔍 Technical matters:

• Transfer pricing lead
• Tax topics connected to financing initiatives (with Catherine)
• Shareholders communication on tax matters (with Catherine)
• Point of contact for HR teams on tax topics (with Soraya)
• CbCR notification
• Supervision of M&A projects within her scope
• Referent on any transfer pricing topic

🏛️ Professional association:

• Representative of AXA in the Deloitte Transfer Pricing Working Group

~*~

Soraya Sacco – Senior Tax Manager

Soraya Sacco
Title	Senior Tax Manager
Email	soraya.sacco@axa.com
Telephone	+33 6 73 75 35 02
Background	Previous tax lawyer admitted to the Paris Bar
Languages	French, English, Italian, and Persian
At AXA since	May 2019

🌍 Scope:

• Geographical: Italy and Spain
• Business lines: Real Estate and Insurance

🔍 Technical matters:

• Supervision of M&A projects within her scope
• Point of contact for HR teams on tax topics (with Teresa)
• Management of all tax topics on real estate (with Rayane) and non-real-estate investment matters (with Salimata)
• Monitoring of the tax position of French holdings (AXA SA, Beaujon, etc.) and key contact point for the PBRC statutory team
• Lead VAT expertise and management of the VAT group, including monitoring of the VAT working group
• Referent on any real estate, non-real-estate investment, and VAT matters

🏛️ Professional association:

• AXA representative to the Fiscal Committee of the Insurance Federation

~*~

Catherine Reynaud – Tax Advisor

Catherine Reynaud
Title	Tax Advisor
Email	catherine.reynaud@axa.com
Telephone	+33 6 73 75 34 77
Background	Master's Degree in Applied Taxation
Languages	French and English
At AXA since	May 2001

🌍 Scope:

• AXA France units: AXA France, Partners, AXA Climate, AXA Banque (with Teresa)

🔍 Technical matters:

• Follow-up on tax audits and litigations
• AXA Shareplan (with Véronique)
• Shareholders communication on tax matters (with Teresa)
• IFC process
• French tax consolidation
• Insurance premium tax (IPT) and local tax
• VAT group (supporting Soraya)
• Referent on any IPT and French local taxes (business tax, land tax) topics

🏛️ Professional association:

• AXA representative to the Fiscal Committee of the Insurance Federation (FA)

~*~

Rayane Fettah – Tax Analyst Junior

Rayane Fettah
Title	Tax Analyst Junior
Email	rayane.fettah@axa.com
Telephone	+33 6 85 97 85 01
Background	Master in Tax Law and Management
Languages	French and English
At AXA since	October 2024

🌍 Scope:

• Geographical: Germany, Switzerland, and Belgium
• Business lines: AXA GO (together with Salimata), Real Estate (with Soraya)

🔍 Technical matters:

• Support M&A projects within his scope
• Philanthropic actions and mécénat (with Olivier)
• Transfer pricing (supporting Teresa)
• Taxation of real estate (supporting Soraya)
• Knowledge management initiative (with Salimata)
• Referent for the tax dimension of any philanthropic project

~*~

Salimata Caillault – Tax Analyst Junior

Salimata Caillault
Title	Tax Analyst Junior
Email	salimata.caillault@axa.com
Telephone	+33 6 85 18 47 04
Background	Master in Taxation, Business Law, Consulting and Business Management, and Tax and Customs Law
Languages	French and English
At AXA since	July 2025

🌍 Scope:

• Geographical: AXA HK and Asia
• Business lines: AXA GO (together with Rayane)
• Special projects and partnerships

🔍 Technical matters:

• Support M&A projects within her scope
• Special projects (e.g., partnerships, business initiatives, e-invoicing, etc.)
• Knowledge management initiative (with Rayane)
• Taxation of Group non-real-estate investments (supporting Soraya)
• Referent on GIE topics

~*~

Véronique Pichon – Tax Analyst

Véronique Pichon
Title	Tax Analyst
Email	veronique.pichon@axa.com
Telephone	+33 6 70 75 16 50
Background	BA / Master 1 in International Business and Marketing
Languages	French and English
At AXA since	July 2007

🌍 Scope

• UK and Ireland

🔍 Technical matters:

• FATCA/CRS
• Shareplan (with Catherine)
• Point of contact for DAC 6 reporting tool
• Operational risks, internal audit and internal controls, and their follow-up
• Annual Certification of Compliance with AXA Tax Code of Ethics
• Coordination of the quarterly Group Tax Newsletter
• Transformation and internal organization (AI, etc.)
• R&D tax credits
• Referent for any FATCA and CRS question, as well as tax research credits

~*~

Qian Zhou – Tax Controller

Qian Zhou
Title	Tax Controller
Email	qian.zhou@axa.com
Telephone	+33 6 73 87 31 93
Background	Master's degree from Toulouse Business School – Management Controlling, Governance and Risk Management
Languages	French, English, and Chinese
At AXA since	February 2020

📋 Main missions:

🌍 Scope (for tax accounting items):

• Europe: AXA France, UK, Ireland, Belgium, Spain, AXA IMA
• International: US, HK and Asia
• Transversal: AXA SA and AXA Holdings, AXA Assistance, AXA Partners, AXA GO

🔍 Technical matters:

• Analyze, understand and monitor income taxes in IFRS accounts
• Contribute to the GTD teamwork on any tax accounting topics
• Manage the tax transparency of the Group
• Analyze and prepare the country-by-country report (CbCR) to be sent to tax authorities and disclosed in the tax transparency report
• Prepare the annual Group tax transparency report on a yearly basis
• Prepare and contribute to third-party questionnaires related to tax transparency (Dow Jones Sustainability Index, AFEP, survey external benchmarks, etc.)
• Contribute to the improvement of the tax dimension of Group tools

Note: The Tax Transparency annual report can be found on axa.com (Investors > Publications) and is published in June.

~*~

Alessandro Bestazza – Tax Controller

Alessandro Bestazza
Title	Tax Controller
Email	alessandro.bestazza@axa.com
Telephone	+33 6 85 23 13 30
Background	Master of Science (MSc) in Business and Economics
Languages	Italian, English, and French (beginner)
At AXA since	October 2023; in GTD since June 2025

🌍 Scope (for tax accounting items):

• Europe: AXA Switzerland, Germany, and Italy
• International: US, SEA, EME LATAM, and Japan
• Transversal: AXA SA and AXA Holdings, AXA GO

🔍 Technical matters:

• Analyze, understand and monitor income taxes in IFRS accounts
• Contribute to the GTD teamwork on any tax accounting topics
• Manage the tax transparency of the Group
• Analyze and prepare the country-by-country report (CbCR) to be sent to tax authorities and disclosed in the tax transparency report
• Prepare the annual Group tax transparency report on a yearly basis
• Prepare and contribute to third-party questionnaires related to tax transparency (Dow Jones Sustainability Index, AFEP, survey external benchmarks, etc.)
• Contribute to the improvement of the tax dimension of Group tools

~*~

Glossary

Abbreviation	Full Name
CbCR	Country-by-Country Report
CIT	Corporate Income Tax
CRS	Common Reporting Standards
DTA	Deferred Tax Asset
DTL	Deferred Tax Liability
ETR	Effective Tax Rate
FATCA	Foreign Account Tax Compliance Act
GIE	Groupement d'intérêt économique (Economic Interest Grouping)
GTD	Group Tax Department
IAS	International Accounting Standards
IFC	Internal Financial Control
IFRS	International Financial Reporting Standards
IPT	Insurance Premium Tax
OECD	Organisation for Economic Co-operation and Development
Pillar 2	GloBE rule (OECD) – Minimum global tax rate of 15%
UTP	Uncertain Tax Position