This document, which has been approved by the Board, sets out the Group’s approach to conducting its tax affairs and dealing with tax risks.
Noble Foods Group is committed to following all applicable laws and regulations relating to its tax activities, maintaining an honest and open relationship with tax authorities and applying diligence and care in the management of the processes and procedures by which all tax related activities are undertaken.
Managing the Group’s tax affairs is a complex process and as such there will inevitably be risks of error or omission which may result in the incorrect application of tax rules or calculation of tax returns. We actively seek to identify, evaluate, monitor and manage these risks to ensure they remain in line with our objectives. Where there is uncertainty in how the relevant tax law should be applied, external advice is sought to support the Group’s decision making process.
The Group’s tax planning aims to support the commercial needs of the business by ensuring that the Group’s affairs are carried out in the most tax efficient manner whilst remaining compliant with all relevant laws. In cases where the tax guidance is unclear or the Group does not feel it has the necessary expert knowledge to assess the tax consequences adequately, external advice may be sought to support the Group’s decision making process.
Approach towards dealing with HMRC
The Group is committed to the principles of openness and transparency in its approach to dealing with HMRC, in a spirit of co-operative compliance. Wherever possible we do so on a real time basis to minimise tax risk.