Tax Strategy and Policies of Brighton-Best International (UK), Limited

This paper sets out the tax strategy and policies of Ta Chen Group‘s UK subsidiary, Brighton-Best International (UK), Limited (the UK Company). The UK Company regards this publication as complying with the duty under paragraph 22, Schedule 19, Finance Act 2016.

Commitment to Compliance

The primary responsibility of the UK Company in relation to taxation is to ensure compliance with all tax law and practice in the United Kingdom. The UK Company will not undertake transactions wholly motivated by tax avoidance or from which there is no economic benefit to the UK Company other than tax savings.

Tax Strategy and Planning

The UK Company will always seek to interpret tax legislation consistently with both the spirit and intention of the law and will not seek to exploit ambiguity. In addition, the UK Company will not engage in artificial transactions the sole purpose of which is to reduce UK tax. The UK Company will not engage in tax efficiencies if the underlying commercial objectives do not support the position, or if the arrangements affect upon the UK Company’s reputation, brand, corporate and social responsibilities, or future working relationships with HM Revenue & Customs (HMRC).

Risk Management

The UK Company should comply with documented policies and procedures in relation to tax risk management and should conduct risk assessments before entering into any new initiatives. Prior to significant transactions and decisions, the UK Company will carefully assess risks and impacts in all aspect. Where appropriate, based on Management’s judgment, this should include obtaining external professional opinions to verify and support the UK Company’s conclusions.

Awareness of Relations with HMRC

The UK Company cooperates with HMRC with an open attitude to build a transparent relationship based on mutual respect and integrity. Therefore, pro-active and transparent communication with HMRC is maintained at country level to ensure that all information reporting required under taxation laws is readily available on a timely basis.