UK Tax Strategy of DNP Photo Imaging Europe SAS

Commitment to compliance
We comply with tax law and practice in all of the territories in which we operate, including the UK which is our one of main places of business. Compliance for us means paying the right amount of tax in the right place at the right time and involves disclosing all relevant facts and circumstances to the tax authorities and claiming reliefs and incentives where available.

Attitude toward tax planning
In structuring our commercial activities we will consider – among other factors – the tax laws of the countries within which we operate with a view to maximizing value on a sustainable basis for our shareholders. Any tax planning undertaken will have commercial and economic substance and will have regard to the potential impact on our reputation and broader goals. We will not undertake planning that is contrived or artificial.

Level of tax risk accepted
Given the scale of our business and volume of tax obligations, risks will inevitably arise from time to time in relation to the interpretation of tax law and nature of our compliance arrangements. We proactively seek to identify, evaluate, manage and monitor these risks to ensure they remain in line with the group’s risk appetite. Where there is significant uncertainty or complexity in relation to a risk, external advice may be sought.

Approach to dealing with tax authorities
We engage with tax authorities, including HMRC, with honesty, integrity, respect and fairness and in a spirit of co-operative compliance. We are prepared to litigate where we disagree with a ruling or decision of a tax authority but will first seek to resolve any disputed matters through pro-active and transparent discussion and negotiation.

Approach to tax risk management and governance arrangements
This strategy is aligned with our group Code of Conduct and is approved, owned and overseen by the President of DNP Photo Imaging Europe SAS.