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London

January 17

GROUP TAX POLICY

This document sets out the tax strategy of Solai Holdings Limited and it’s UK subsidiary companies (“the Group”) for the year ending 31st March 2019.

It will be reviewed periodically and updated as applicable. The Group business is diversified into various sectors. These business activities generate a variety of
taxes including corporate taxes, property related taxes and employment taxes. The Group collects employee taxes and VAT.

Tax Strategy Ownership

The tax strategy is approved by the Board each year and owned by the Board.

The Senior Accounting Officer is responsible for ensuring that policies and procedures are in place to support the tax strategy.

Tax Strategy

The Group is committed to a tax strategy that is consistent with the following objectives:-

  • Comply with all relevant tax laws, rules and regulations
  • Comply with all reporting and disclosure requirements
  • Ensure that the Group tax strategy is consistent with the Group’s overall business strategy such that key business decisions are made with awareness of the tax consequences.
  • Use all incentives and reliefs available to optimise the after-tax returns of the group and to ensure that the businesses only pay taxes that are legally due.
  • There may be circumstances where alternative interpretation of the legislation may result in different outcomes. We will use our best judgement for selecting the appropriate course of action.
  • we do not undertake planning for purposes that are knowingly against the intent or spirit of the legislation.

Governance and Risk Management

The Board is responsible for the management of tax risk with delegation to the Senior Accounting Officer for the appropriate accounting processes and controls. The Group seeks to reduce the level of tax risk by having regular discussions with external advisors so that any identified risks and opportunities are addressed to ensure compliance with the Group tax strategy. Further, external auditors provide an opinion on the annual accounts which includes tax amounts and disclosures.

Compliance

The Group aims for the compliance to be timely and accurate and to include sufficient detail to enable the Revenue Authorities to form an accurate view of the Group’s affairs.

Dealing with HMRC

The Group endeavours to maintain an open and honest dialogue with the HMRC disclosing all relevant facts and circumstances in a timely manner. Our aim is to obtain certainty on tax issues wherever possible by way of proactive discussions.