UK Tax Strategy
While our 5 Core Values (Fairness, Transparency, Integrity, Safety and Compatibility) form the basis of our judgments and actions, the Kurita Group Code of Conduct shows what we must follow in compliance with laws and regulations and to take the specific correct actions that are based on social ethics. We hereby ensure our tax transparency.
The following document lays out the company’s strategy and approach in the United Kingdom from the date of publication until it is suspended. We, Kurita UK Ltd., publish this statement to meet our obligation under Paragraph 16(2) of Schedule 19 to the FA2016 for the year ending 31 March 2023 and will review for necessary and timely adjustments.
Publication Date: 25-MAR- 2023
Kurita Group’s policy of our activities in UK is to comply with all the relevant laws, rules, regulations, reporting and disclosure requirements and to timely pay the correct amount of tax to all taxing authorities with which the Group has a tax obligation.
Where there is uncertainty as to the application or interpretation of tax law, appropriate written advice evidencing the facts, risks and conclusions may be taken from third party advisors to support the decision-making process.
The Level of Risk Prepared to Accept
Kurita Group adopts a low-risk tax strategy and carefully considers the tax implications of all major transactions to ensure that it meets both the letter and the spirit of UK tax law.
Attitude to Tax Planning
Kurita Group’s tax arrangements are based on its commercial business and economic activities. Kurita Group monitors and reviews its operations in the UK and elsewhere to realign its tax arrangements when necessary to be compliant with the tax rules and regulations.
Approach Towards HMRC
We seek to build and sustain relationships with the Government and HMRC that are constructive and based on mutual respect. We work collaboratively wherever possible to resolve disputes and to achieve early agreement and certainty.