Company’s aim is to manage our tax affairs in a manner which ensures compliance with all fiscal obligations and which maximizes shareholder value.
Our approach is focused on three key principles:
- We are committed to paying tax in accordance with all relevant laws and regulations in the territories in which we operate.
- We are committed to the effective, sustainable and active management of our tax affairs in support of outstanding business performance in the territories in which we operate and, as with all other aspects of our business, to maximize shareholder value.
- We actively endeavour to develop and sustain good and honest working relationships with Tax Authorities and to encourage the representation of our views on the formulation of tax laws either directly or through trade associations or similar bodies.
Q: I have become aware of a potential error in a tax return that may have resulted in a significant underpayment of tax in my market. What should I do?
A: Our key principles require that we pay tax in accordance with all the relevant laws, and that we sustain good and honest relationships with tax authorities. You should raise the potential issue with your line manager or a team leader in the Global Tax team so that it can be investigated and confirmed whether there is an error, and if so, the best way of disclosing it to the tax authority and of putting in place additional controls to ensure similar errors cannot occur again.
Read further: Real Life Example of Global Tax Policy.