Duracell is a U.S headquartered global manufacturing company that produces batteries and smart power systems
This tax strategy is applicable to the Duracell Company UK Limited, all of its direct and indirect UK subsidiaries together with any UK permanent establishments. Publication of this strategy is regarded as satisfying our statutory obligation under Para 16 (2), Schedule 19, Finance Act 2016 for the financial year ending 31 December 2020.
APPROACH TO TAX RISK MANAGEMENT AND GOVERNANCE
The Board has ultimate responsibility for tax risk management and governance, supported by the Chief Financial Officer. Operational responsibility for implementation of the strategy, tax compliance, risk management and general tax matters falls to the Tax Director.
We strive to pay the correct amount of tax at the correct time in accordance with all relevant laws and regulations, both in letter and in spirit. We aim to maintain compliance via a system of internal governance using appropriately qualified and experienced staff. Where applicable tax advice is sought from external advisors in respect of material transactions or when staff do not have the necessary expertise or skills required in a particular area.
ATTITUDE TO TAX PLANNING
We will only engage in tax planning that supports the business, reflects genuine commercial activity and complies with applicable laws and regulations. We will not engage in artificial tax arrangements or aggressive tax planning but may seek to benefit from legislative reliefs or incentives in the spirit of the law.
Transactions between group companies are conducted on an arms-length basis in accordance with appropriate transfer pricing rules and the relevant guidance issued by the Organisation for Economic Co-operation and Development (OECD).
RELATIONSHIP WITH TAX AUTHORITIES
We will aim to maintain an open, honest and transparent relationship with HMRC and interact in a professional, courteous and timely manner. If we were to identify an error we would seek to voluntarily disclose it as soon as reasonably practical, quantify the effect of the error and pay the additional tax and any interest due as a result.
If our interpretation of the correct tax treatment differs from that of the tax authorities we will typically ask for independent advice and work with the tax authorities to achieve resolution in an open and constructive manner.