The Tax Strategy of the Mars global group of affiliated entities (“Mars”) is premised on a foundation established by our shareholders that Mars is a good corporate citizen united and guided by its Five Principles.
The Five Principles of Quality, Responsibility, Mutuality, Efficiency and Freedom are the key to our culture, and we strive to live by them each and every day. They serve as a compass to help guide our business decisions and unite us across geographies, languages, cultures and generations. The result is stronger relationships with everyone - our consumers, customers, business partners, communities and each other.
The following lays out the application for the United Kingdom entities and taxes. This Tax Strategy has been prepared in accordance with Schedule 19 of Finance Act 2016 and applies for the financial year ended 29 December 2018. Our Principles are fully reflected in this Tax Strategy for the UK which has been endorsed by the UK Board of Directors:
- Mars maintains internal policies and procedures to support its tax control framework and provides training to associates to manage tax risk. The operation of the tax risk control and governance framework is the responsibility of the Group’s in house tax team. Where necessary, further support is provided by external advisors.
- Mars aims to properly, timely and accurately comply with all tax laws of the jurisdictions in which we operate, acting within a robust framework designed to reduce the risk of errors that may result in reputational damage or financial cost to the business.
- Mars engages in tax planning opportunities and strategies that support genuine economic commercial business activities. In this context, Mars will always consider any legitimate tax reliefs offered under UK tax law as part of managing the costs to the business and protecting the value of its investments.
- Mars establishes and maintains positive and professional relationships with UK tax authorities based on credibility and mutual respect.
- We value our relationship with HMRC. We meet regularly with HMRC and, wherever possible, work collaboratively to achieve early agreement of any uncertain issues.
- Mars maintains high ethical standards, dealing with all matters openly, honestly and with integrity.