Calsonic Kansei Europe PLC Tax Strategy

Strategy

  • In compliance with paragraph 19 (2) of Schedule 19, Finance Act 2016, Calsonic Kansei Europe plc is publishing its UK tax strategy. This company is the head company of the UK sub-group and this tax strategy also applies to all UK subsidiaries (together referred to as UK Group).
  • The UK Group is committed to acting with integrity and transparency in all tax matters.
  • Our tax strategy and policies require that we fully comply with the letter and spirit of UK tax law.
  • We make timely and accurate tax returns that reflect our fiscal obligations to Government.
  • The UK Group takes a conservative approach to tax planning and does not pursue aggressive tax planning arrangements.
  • The UK Group uses third party advisors to provide the advice and guidance necessary to assess the tax risks and ensure its compliance with applicable laws, rules, regulations and reporting and disclosure requirements.
  • We understand the value of our tax reporting to all our stakeholders. We work to provide transparent and balanced disclosure in communicating our tax affairs.

Tax Governance

  • Tax is part of the finance function of the UK Group and is the ultimate responsibility of the Vice President of Finance of the European Group. The Vice President of Finance acts as Senior Accounting Officer (SAO) and as part of this role submits an annual certificate to HM Revenue & Customs (HMRC) stating that the group has appropriate tax accounting arrangements.
  • Tax strategy and policies are reviewed on an on-going basis by the Directors of each company within the UK Group. Tax strategy and policy issues are assessed on a case by case basis by the Vice President of Finance.
  • Day-to-day tax matters are delegated to the Senior General Manager of Finance of the UK Group and finance teams at each of the respective UK locations. The finance teams employ various processes and systems to provide assurance that the requirements of the UK Group’s tax strategy are met.

Relationship with HMRC

  • An important part of our tax strategy and policies is the maintenance and development of a strong, proactive working relationship with HMRC.
  • We are open and transparent with HMRC and, in cases of interpretation of complexity, work with them to ensure the correct tax treatment.
  • The group is committed to making fair, accurate and timely disclosure in correspondence and returns, and respond to queries raised by HMRC in a timely manner, to ensure efficient resolution of issues.