DataLase LTD. (“DataLase”) is a UK entity of the group headed by SATO HOLDINGS CO., a Japanese corporation (the “SATO Group”). The SATO Group sees compliance with all domestic laws, foreign laws, and international rules and regulations as key to its corporate activities. Therefore, our overall tax strategy is to ensure that we fulfil all of our legal and regulatory obligations. To create new value for our customers through products and services of superior quality, and to contribute towards a better and more sustainable world, we will pursue the below tax objectives.
Approach to tax risk management and governance: Proper tax management is key to ensuring we uphold our ethical values of adhering to all laws, government regulations, company rules and principles, and conducting all corporate activities in conformity with fair business practices and public ethics. In order to ensure our values are kept to, the SATO Group has well-documented corporate values, a code of conduct, and list of principles of activities. Tax, as part of a wider focus on overall compliance, is a key priority for management, and we have appointed external tax advisers to ensure that we remain compliant with all relevant regulations and disclose all information necessary in a timely manner.
Any material issues or significant risks identified are raised escalated to the Finance & Accounting department at the SATO HOLDINGS CO.,(“SH”). Through effective communication in this way between the local business team at DataLase and the Finance & Accounting department at SH, our tax affairs are managed in line with global SATO Group policy.
Attitude towards tax planning: DataLase endeavors to compete fairly and freely, refrain from illegal business activities, promote sound business practices, and be faithful and sincere in all activities and dealings upon acting in the best interests of our stakeholders. Thus, all business transactions are undertaken in accordance with our ethical values and DataLase’s business objectives, with the primary focus to comply with all applicable laws and ordinances.
We make use of legislated tax incentives and exemptions approved by external advisers to support the long-term development of our company, but do not participate in any aggressive tax planning, or transactions which do not have a commercial purpose as their primary driver. Furthermore, in line with our ethical values, we are committed to acting in line with both the letter and spirit of the law.
Level of risk in relation to taxation that we are prepared to accept: In relation to our UK tax affairs, DataLase has a low appetite for risk. Our affairs and business activities are based on sound commercial principles, and we operate in accordance with both our ethical principles and relevant tax legislation. We do not proactively consider any form of aggressive tax planning, nor do we engage in any activities that would compromise our ethical standards, business objectives, reputation, or that of our wider stakeholders.
Approach towards dealings with HMRC: We are committed to maintaining an open, transparent relationship with HMRC based on proactive communication and the timely disclosure of any information required by law. If any uncertainty should occur, or the law may be open to interpretation, we seek advice from external tax advisers, and look to discuss issues directly with both them and HMRC. Should any disputes arise, we will approach the situation in an honest, open manner. Our first priority in such a situation would be to reach an agreement and resolution at the earliest possibility.
Our published UK tax strategy, which has been approved by the Board, satisfies Schedule 19 of the UK Finance Act 2016, in respect of our financial year ending 31 December 2017