In compliance with section 161 and section 19(2) of schedule 19 Finance Act 2016, the company is publishing its tax strategy for the year ending 31 December 2017.

The company’s strategy is to pay the right amount of tax, in the right jurisdiction, at the right time, as dictated by both UK and local legislation as appropriate.

We aim to:

• meet all tax, legal and regulatory requirements

• make all required tax returns and payments by the due dates

• have an open and transparent relationship with HMRC

• Risk management and governance arrangements
  The importance of tax compliance is understood at both group and local level.

  We want the company’s tax affairs to be compliant with UK tax legislation.
  We keep under review how our company meets its tax obligations (by seeking external tax advice, investing in tax training for our staff) and also how we manage our relationship with tax authorities.
  The company has processes in place to ensure the integrity of its tax filings in the UK.

• Attitude towards the level of risk
  The company actively seeks to ensure that its tax returns and the tax paid appropriately reflect the business activities undertaken in the UK, and the same approach is taken whenever new tax legislation is introduced or HM Revenue & Customs (HMRC) changes their policies. We do not adopt aggressive tax planning. When there is uncertainty or complexity in relation to the UK law or its application, UK expert advice may be sought. If the foregoing is insufficient to achieve certainty or to address the complexity, the company may seek to engage directly with HMRC to better understand the application of the law and to ensure compliance.

• Relationship with HM Revenue & Customs (HMRC)
  The company engages with tax authorities with respect, fairness, and in a spirit of co-operative compliance. The company seeks to develop good working relationships with UK tax authorities.
  Any inadvertent errors in submissions made to HMRC are fully disclosed and corrected as soon as is reasonably practicable after they are identified.

The company has no pending tax audits or litigation in the UK.

December, 31, 2017 Candia UK
London