UK Tax Strategy
Samsung SDS Europe Limited (SDSE) services the IT needs of related Samsung Companies based in the UK, European mainland, CIS (Commonwealth of Independent States), Middle East and Africa. As such the Company’s growth and success is largely dependent on the growth of other Samsung business operations in these areas. We have already started to provide a secure solutions such as EMM (Enterprise Mobility Management) and One Samsung Package (Device plus Solution) to B2B customers who are not related to Samsung affiliated companies. The principal activity of the Company is the provision of IT goods and services. The Company has branch operations in Germany, Russia and Dubai.
We Samsung SDSE, as a responsible and reputed company, comply rules and regulation of the country where it and its branches operates and establishes a transparent tax strategy for reporting and payment purpose. We recognise an equality of employment opportunities and sustainable growth of the company. We also participates in different charity fundraising and provides support to disable people throughout the year as a responsible organisation of the community.
Samsung SDS Global SCL UK Limited located in 1000 Hillswood Drive, Chertsey, Surrey, United Kingdom, KT16 0PS is a 100% subsidiary of our parent company Samsung SDS Korea and follows the same tax strategy as outlined below.
We value all our interested parties highly and prioritise our responsibility towards shareholders and stakeholders to provide transparent information. This statement sets out our UK tax strategy under paragraph 22 (2), schedule 19, Finance Act 2016.
Risk management and governance arrangements
Our company extent nature and the volume of business is associated to UK tax jurisdiction. Company accounts and pays different types of tax such as Pay As You Earn income tax on behalf of employee, employee and employers National Insurance, Corporation tax and VAT. With company diversity and our branch operating in different country, UK tax includes additional complex risk such as treatment of transfer pricing of goods and services within inter-related companies and treatment of double tax relief. Our board of directors are committed to ensure good governance of risk management, financial and non-financial risk. Risk related to taxation are reviewed annually to ensure that company’s status with HMRC stays as a low-risk business.
Attitude towards tax planning
UK tax are frequently changing and to be in line with the change and understand the implications, company take tax advice from external professionals for normal operation of business and for different business dealings. Tax planning and decisions are made in conjunction with HMRC rules and regulation guidance. Regular audit is carried on twice a year basis providing high confident on business operations to all shareholders and stakeholders.
Level of risk in relation to tax we are prepared to accept
Company objectives is to ensure all computation and returns comply as per UK jurisdiction. All tax calculation are reviewed by senior manager and approved by CFO prior to submission. Company keeps low tolerance in relation to tax risk. Where there is a doubt on tax treatment, we seek advice from a leading tax advisors and proceed ahead based on their provided guidance.
Approach towards dealing with HMRC
Our company policy guideline provides a transparency act between HMRC for any transaction. Company welcomes and supports any information required by HMRC and are communicated in a much transparent manner as possible. Communications with HMRC are regularly maintained via phone, emails or by post.
Last updated on 18th May 2018.