In compliance with the UK tax legislation (Schedule 19 Finance Act 2016) we are pleased to publish our tax strategy approved by the Board of Directors of Gazprom Marketing and Trading Limited.
The legislation requiring large UK businesses to publish their tax strategy in relation to UK taxation came into force in 2016. This legislation requires the tax strategy of the companies to be published on their internets for the financial year 2017 by 31 December 2017.
Gazprom Marketing and Trading is part of Gazprom group of companies which qualifies under these rules.
The GM&T’s tax strategy is prepared in line with the tax strategy of PAO Gazprom, ultimate shareholder of Gazprom companies in the UK (“GCUK”), and covers activities affecting all UK tax aspects.
The tax strategy compromises of six key components:
- Commercial tax advice
- Transfer Pricing arrangements and operations
- Tax accounting and reporting
- Tax compliance
- Tax risk management
- External stakeholder communication (with HMRC)
and can be summarised as follows:
GCUK’s tax strategy is to conduct itself in a way which is in full compliance with the tax laws and practices of each jurisdiction in which it operates and which is also within an acceptable and pre-determined level of risk, with particular regard to the Gazprom Group reputation. In delivering the tax strategy, GCUK recognises that tax is a significant global cost and, in pursuing its commercial vision, it will proactively and legitimately seek to minimise this cost and eliminate double taxation through effective and efficient tax management and operations.
To access the tax strategy of Gazprom companies in the UK please follow the link