Uk tax strategy

STS Marine Solutions (UK) Limited – UK tax Strategy

       December 31, 2023

The publication of this statement is in accordance with the statutory requirements under Para 19(2) and Para 22(2) Schedule 19 of Finance Act 2016.

1. Risk Management and Governance Arrangements

Our Group’s policy is full compliance with all relevant laws, rules, regulations, reporting, and disclosure requirements. We ensure timely and accurate tax payments to all applicable taxing authorities.We maintain a regular, comprehensive review of tax risks with robust internal controls to both identify and mitigate these risks to acceptable levels. This includes the use of tax risk metrics to assess the likelihood, materiality, and potential impact of risks. We conduct yearly reviews to ensure ongoing assessment and management of these risks.

2. Attitude towards tax optimisation or planning

The group is committed to full compliance with the law. Any tax optimisation or planning is rooted in legitimate commercial activities. The group will not participate in artificial arrangements solely designed to avoid, defer, or reduce tax.

3. Acceptable Level of Tax Risk

The level of risk that UK Companies accept in relation to UK taxation aligns with the Hili Ventures Group’s objective of achieving tax certainty. At all times the UK Companies seek to comply fully with their regulatory and other obligations and to act in a way which upholds their reputation as a responsible corporate citizen and therefore adopt a low-risk approach when considering their UK tax affairs.

4. Approach in Dealing with HMRC

The UK Companies maintain a collaborative and transparent relationship with HMRC regarding tax compliance, strategy, risks, and significant transactions. The UK Companies are committed to making full and accurate disclosures in tax returns and correspondence with HMRC. In the event of inadvertent errors in submissions, the UK Companies promptly disclose them as soon as reasonably practicable after identification.