Tax Strategy

Amplifon Limited regards the publication of the information set out below as complying with the duty under Schedule 19 of the Finance Act 2016 to publish a tax strategy.

For the year ended 31 December 2018 Amplifon Limited and UK group companies, alongside the larger Amplifon group, is committed to conducting its tax affairs with the following objectives:

  • Compliance with all relevant laws, rules, regulations and reporting disclosure requirements in the UK
  • Control and management of risk associated with tax matters, through good governance and diligent professional care
  • Develop and foster good working relationships with tax authorities, government bodies and other related third parties, with integrity, collaboration and mutual trust

This Group code of conduct sets our clear principles on how all people are expected to behave, and observance to these rules is mandatory.

Compliance with laws, rules and regulations

Amplifon Group is committed to adhering to all applicable laws, rules and regulations and reporting disclosure requirements that are applicable as part of the ongoing business transactions.

There are clear management responsibilities, all of whom have the necessary skills and knowledge, set out in the groups policy. Regular monitoring and reviews are in place to ensure adherence. In the instance where the tax treatments of an item are uncertain or subject to interpretation, written advice or confirmation will be sought as appropriate to ensure appropriate compliance, including from external professional advisors when judged appropriate.

Good governance

Responsibility and accountability of the Groups tax affairs is clearly defined in accordance with the groups responsibility matrix, and any decisions thereof are made within the group delegation of authority matrix.

Diligent and professional care and judgement is applied to assess and manage any risk.  In the instance where the tax treatments of an item are uncertain or subject to interpretation, written advice or confirmation will be sought as part of the decision making, including from external professional advisors when judged appropriate.

When reviewing the risk of a tax decision; the following principles would be considered:

  • Legal and fiduciary duties of directors and employees
  • Reputational impact from such decision
  • The tax benefits and impact on the Group’s result in comparison to potential costs, including the risks of penalties and interest
  • The wider consequences and impact with the relationship with the tax authorities

The group will conduct its tax affairs in a tax efficient manner but would not look to undertake artificial transactions solely to reduce UK tax costs or obtain a tax advantage. The overarching principle of the tax policy is the prevention of any un-necessary disputes.

Relationships with tax authorities

Amplifon principle is to develop and foster good working relationships with tax authorities, government bodies and other related third parties. Amplifon is committed to building relations with the principles of integrity, collaboration, mutual trust and all dealings to be conducted in a timely manner.