Approach to Risk Management and Governance Arrangements in Relation to UK Taxation
Intel Corporation (UK) Limited (“Intel”) is an indirectly owned 100% subsidiary of Intel Corporation a US company headquartered in Santa Clara, CA. The VP of the Global Tax function is based in Santa Clara and is ultimately responsible for the Group’s overall tax strategy and policies. Day-to-day tax matters as they relate to Intel are assigned to the EMEA Tax Director (based in the UK) and a team of
Attitude Towards Tax Planning (So Far as Affecting UK Taxation)
Intel’s tax policy is consistent with the Intel Corporation’s Tax Policy – namely “to comply with the laws, regulations and filing requirements of all jurisdictions in which Intel conducts business. We regularly engage in discussions and negotiations with tax authorities regarding taxation matters in various jurisdictions”.
There will, however, be circumstances where the amount of tax to pay may not be clearly defined, or where alternative approaches may result in differing tax outcomes. In which case Intel will use its best
Intel aims for certainty on the tax positions that it adopts, however, tax law can be unclear at times or subject to interpretation. Intel does not look to enter into transactions that have
Intel does not use artificial tax avoidance schemes or use tax havens to reduce its UK tax liability. Intel applies OECD guidelines, UK and other national legislation to our intercompany transactions.
Attitude Towards Tax Restructuring (So Far as Affecting UK Taxation)
As a responsible
Intel accesses government sponsored tax incentives where appropriate and in line with substantive business activities e.g. R&D tax credits.
Level of Risk in Relation to UK Taxation That It Is Prepared to Accept
In reviewing the risks of a tax action or decision the following are all considered:
- The legal and fiduciary duties of directors and employees;
- The maintenance of corporate reputation;
- The tax benefits and impact on the Group’s reported result comparative to the potential financial costs involved, including the risk of penalties and interest;
- The wider consequences of potential disagreement with tax authorities, and any possible impact on relationships with them.
Approach Towards Its Dealings with HMRC