This tax strategy report applies to Shimano UK Limited, hereafter referred to as ‘Shimano’.
Shimano maintains accurate and complete accounting records pertaining to our business and its results and conducts accurate, complete, and logical financial reporting as well as timely information disclosures. The financial reports are being audited by external accountancy firms on a yearly basis.
Shimano feels that part of a company’s responsibility to society is paying its fair share of taxes. Shimano is committed to full compliance with applicable tax law and regulation in the UK. In doing so we strive for full disclosure with HMRC via transparent communication and provision of prompt answers to HMRC inquiries. Shimano is a responsible tax payer with a tax risk averse attitude, therefore Shimano does not engage in aggressive tax planning schemes or tax avoidance schemes to reduce the amount of taxes payable in the UK. In determining intercompany pricing Shimano takes into account the functions performed, risks assumed and assets used by each party involved in the transaction to come to an at arm’s length price setting.
Senior management spreads its vision on ‘Compliance’ among the employees on a regular basis by means of compliance trainings, the Code of Conduct and actively stimulating employees to keep their knowledge on (tax) regulation updated. Shimano is staffed with appropriately qualified individuals who seek internal and external tax counsel where appropriate.