Tax planning ECCO’s objective is to be compliant with all relevant tax legislation. The overall approach is to support the commercial needs of the business in the most tax efficient manner, but at the same time be compliant with all relevant laws. The strategy is to pay the correct amount of tax, at the right time. In regards to intercompany transactions between ECCO and other related parties, ECCO applies the guidelines provided by OECD (Organization for Economic Co-operation and Development) and UK legislation. ECCO is aware that all business decisions are affected by tax and tax risks. Consequently ECCO seeks to make tax compliance a part of the decision making process, and hereby try to avoid any tax disputes or risks in the future. Attitude towards risk ECCO is not involved in aggressive tax planning but rather takes a conservative approach. The company will choose the most tax efficient approach, but always in compliance with the relevant legislations. ECCO realizes that tax compliance is increasingly complex and therefore ECCO tries to act in a proactive way to ensure that all taxes are paid and according to the legislation in the countries where ECCO operates. The attitude towards tax risk is low and this is why ECCO seeks to be compliant in all tax matters. Working with HMRC From ECCO’s code of conduct: “ No matter where in the world ECCO operates, this is done according to a set of principles which stipulate that we will behave in a correct and decent manner. This is our heritage as a Danish company.” This statement also applies for ECCO. To meet this intent, ECCO’s focus is to provide HMRC with timely tax compliance. Also it is the objective of ECCO Group Tax to work with the HMRC in a transparent and honest way. ECCO wishes to work with the HMRC in a proactive way, to minimize the risk of disputes.
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