The UK Tax Strategy of the Sumitomo Rubber Group

This Sumitomo Rubber Group UK Tax Strategy is effective for the year ending 31st December 2020. In making this strategy available to the public, we are fulfilling our responsibilities pursuant to Schedule 19 of the Finance Act 2016.

As a global enterprise that is dedicated to observing and respecting all applicable laws and regulations, engaging in fair and transparent business activities, contributing extensively to our communities and society and earning the trust and respect of our stakeholders, the Sumitomo Rubber Group (hereinafter, “our Group”) has made it our basic management policy to continue producing new value for more pleasant and attractive lifestyles for our customers while continually enhancing our corporate value for our stakeholders.
One aspect of this basic management policy is our Group’s dedication to fulfilling our tax obligations in an appropriate and ethical manner so that we may contribute to the development of the local and regional communities in which we operate. Our UK Tax Strategy applies to all UK entities in our Group.

Tax Risks Involving Our UK Subsidiary

As we expand the scope of our operations in the UK in the future, we believe that it will become increasingly important for us to manage and respond to tax risks within the UK. Our Group is committed to regularly reviewing and auditing our situation with regard to tax risk management, not only for our subsidiaries in the UK, but throughout our entire Group while continually revising and improving our tax risk management system as necessary.
 

Our Relationship with Her Majesty’s Revenue and Customs (HMRC)

Our Group considers daily communication with every stakeholder to be an essential aspect of remaining conscious of the responsibilities of our Group. Our group hopes to build a trust-based relationship with HMRC through the appropriate disclosure of all pertinent information in a timely manner and fully intends to enhance the transparency of our operations. We will also file tax returns and pay taxes on time in accordance with all relevant laws and regulations while working with HMRC to cooperate with official requests by promptly providing all requested information while.