Anti-Tax Evasion Policy
Tax evasion is a criminal offence. The Company prohibits any form of tax evasion. Involvement in the criminal facilitation of tax evasion exposes the Company and the person facilitating the evasion to a criminal offence. It will also damage our reputation and the confidence of our customers, suppliers and business partners.
Indicators of tax evasion are:-
a) request for payment by cash;
b) overly-complex payment mechanisms;
c) services/goods provided to jurisdictions that do not subscribe to Common Reporting Standards;
d) transactions involving overly complex supply chains;
e) transactions involving private banking facilities; and/or
f) records that are incomplete or missing.
Our position is simple: we conduct our business to the highest legal and ethical standards. We will not be party to tax evasion or the facilitation of tax evasion of any form. Such acts would damage our reputation and expose us, and our staff and representatives, to the risk of fines and imprisonment.
We take a zero-tolerance approach to tax evasion facilitation by our people and our third party representatives. We are committed to:
a) rejecting the facilitation of tax evasion; and
b) not recommending the services of others who do not have reasonable prevention procedures in place.
We require compliance in regards to this from everyone connected with our business. Integrity and transparency are of utmost importance to us.
B) DEFINITIONS OF TAX EVASION
Tax evasion is the practice of using illegal methods to avoid paying tax. It frequently involves contrived, artificial transactions that serve no purpose other than to reduce tax liability.
It is prohibited, directly or indirectly, for any employee or person working on our behalf to take part in any activity relating to tax evasion.
If we suspect that you have taken part in such activity, an investigation will be carried out and, in line with our disciplinary procedure where appropriate, action may be taken against you which may result in your dismissal, or the cessation of our business arrangement with you.
If you, as an employee or person working on our behalf, suspect any activity related to tax evasion or attempted tax evasion has taken place, even if you are not personally involved, you are expected to report this to a Director. You may be asked to give a written account of events.
The Company will ensure that it gives all relevant training for staff in relation to financial crime detection and prevention, it will ensure it monitors and enforces compliance with the prevention procedures and regularly review the effectiveness of prevention procedures, refining them where necessary.
Staff are reminded of the Company’s Whistleblowing Policy which is available in the Employee Handbook, or upon request.