In compliance with section 161 and section 19(2) of schedule 19 Finance Act 2016, Isagenix International is publishing its international tax strategy as it relates to the UK. This tax strategy is aligned with the Company’s 12 Core Values and is approved by its chief financial officer.
The publication of this tax strategy is for the accounting period ending 31 December 2017.
Approach to risk management and governance arrangements in relation to UK taxation
Isagenix views the proper administration and payment of tax as an important responsibility of doing business in the UK. Accordingly, senior leadership has delegated the responsibility for tax management to the Vice President of Global Tax to ensure compliance with UK tax laws and obligations. The Vice President of Global Tax reports to senior leadership on a regular basis.
The Vice President of Global Tax is responsible for identifying and managing tax risks in respect to Company operations. Systems, processes and controls are central to ensuring compliance and the Vice President of Global Tax oversees regular system and control checks to ensure robust and appropriate tax accounting procedures. Any risks identified are discussed with senior leadership and, where appropriate, advice is sought from external advisors to ensure that risk is minimized.
Our attitude towards tax planning
When considering the structure of the Company’s commercial activities in the countries in which we operate, we undertake to ensure that our approach to tax supports our commercial objectives in an efficient manner, while remaining compliant with tax legislation.
The tax function is consulted as part of the commercial decision-making process to ensure that tax outcomes of any commercial decision are understood. The level of professional advice which is sought from external advisors is determined based upon the complexity of each transaction.
We utilize available tax reliefs and incentives provided for in tax legislation in a way which is consistent with Government policy.
The level of risk in relation to UK taxation that we are prepared to accept
We understand that tax management involves judgements on areas of uncertainty and risk. The Company has a low tolerance for tax risk.
We minimize the level of risk in relation to UK taxation by employing a skilled tax function, supported by professional tax advisors when needed.
Approach of the business towards its dealings with HMRC
Our interactions with HMRC are commensurate with our limited UK operations, and largely relate to our UK tax compliance obligations. If we are unclear as to how tax law should be applied, we may engage with HMRC in advance of undertaking transactions to confirm the correct application of tax law. We seek to maintain open, honest and collaborative dealings with the HMRC and be seen as a low-risk taxpayer from the HMRC’s perspective.
We aim to file our UK tax returns by the filing deadlines, and pay any tax due on time.
Vice President of Global Tax
Chief Financial Officer