UK Tax strategy
The Group Code of Business Conduct requires that Sidel complies with all legislation relevant to the countries in which it operates, including regulations related to tax. The company’s tax strategy reflects this requirement, and, with respect to the UK, can be summarised as follows:
- Sidel’s UK tax strategy is built on sound commercial activities and based on well-recognised tax principles
- Sidel pays tax in accordance with the requirements of UK domestic law, taking into account all relevant international provisions
- Tax compliance is the responsibility of Sidel UK’s management, supported by the company’s global tax department. The governance processes within the UK adopt group-wide procedures and controls
- Whenever identified, tax risks to the group and to the UK Exchequer are mitigated through a dialogue with HMRC
- Sidel adopts a consistent and mandatory methodology, which is implemented across the entire Sidel Group, to manage the Enterprise Risk associated with its UK operations.
The company continuously reviews its tax strategy in the wake of legislative and regulatory changes.