Beko PLC Tax Strategy

This document, sets out the UK groups approach to conducting its tax affairs and dealing with tax risks for the year ending 31st December 2017.

Beko PLC is committed to:

Risk management

Managing the UK group’s tax affairs is a complex process across many functional areas of the business and as such there will inevitably be risks of error or omission within those processes which may result in the incorrect application of tax rules or calculation of tax returns. Eliminating tax risks entirely is impossible. Where there is uncertainty in how the relevant tax law should be applied, external advice may be sought to support the company’s decision making process.

Due consideration will be given to the UK Group’s reputation, brand and corporate and social responsibilities when considering tax initiatives, as well as applicable legal and fiduciary duties of directors and employees of the UK Group and will form part of the overall decision making and risk assessment process.

Tax planning

The UK group has clearly defined lines of responsibility for its tax affairs. The UK group’s tax planning aims to support the commercial needs of the business by ensuring that its affairs are carried out in the most tax efficient manner whilst remaining compliant with all relevant laws. The tax function is therefore involved in commercial decision making processes and provides appropriate input into business proposals to ensure a clear understanding of the tax consequences of any decisions made.

In cases where the tax guidance is unclear or the UK group does not feel it has the necessary expert knowledge to assess the tax consequences adequately, external advice may be sought to support the decision making process.

Approach towards dealings with HMRC

The UK group is committed to the principles of openness and transparency in its approach to dealing with HMRC, and in particular the group commits to:

The parent group is headed by Koc Holding AS a company registered in Istanbul, Turkey and listed on the Turkish stock exchange

This tax strategy has been prepared in accordance with requirements detailed at paragraph 19(2) Schedule 19 Finance Act 2016


…………………………………………………………………………………………………………
Teresa Arbuckle
Managing Director - Beko plc

Signed on behalf of Beko PLC