UK Tax Strategy
Integrity is a core value for NielsenIQ. Maintaining a sustainable tax policy and a balanced, transparent approach to tax are elements of corporate integrity. NielsenIQ is committed to complying with tax laws in a responsible manner and to having open, constructive, and transparent relationships with tax authorities. This Policy applies to Intermediate Dutch Holdings B.V. (our top holding company) and to all entities, including UK entities, in its group. Our tax policy is made up of six key components:
We pay our taxes promptly and in accordance with all applicable laws and regulations in the countries in which we operate and are guided by relevant international standards such as the OECD Guidelines.
2. Business rationale
We believe that tax is an integrated part of doing business and not merely the domain of the tax function. We believe in the principle that tax should follow business and consequently profits are allocated to the countries in which business value is created. For calculating transfer prices, we apply the arm’s length principle.
Tax is one of the elements we take into account in our commercial and economic activities, while businesses may also respond to available tax incentives and exemptions.
3. Tax planning
Overarching our code of conduct, our policies and our own good judgment are the laws, rules and regulations of all the places where we do business, with which we must comply and which take priority over everything else. We adhere to relevant tax law and seek to minimize the risk of uncertainty or disputes. Any tax planning that is undertaken supports our business, reflects commercial and economic activity and takes into account the potential impact on our reputation, brand and corporate responsibility.
4. Relationship with tax authorities
Wherever we operate, we seek to build and sustain relationships with tax authorities and other government bodies that are constructive and based on mutual respect. We work collaboratively based on the disclosure of all relevant facts and circumstances with tax authorities to resolve disputes and to achieve early agreement and certainty.
We are transparent about our approach to tax and our tax position. Disclosures are made in accordance with the relevant domestic regulations, as well as applicable reporting requirements and standards such as US GAAP. We support the multilateral initiatives towards greater transparency that increase understanding of tax systems and build public trust.
6. Tax risk management
We identify, assess, and manage tax risks and account for them appropriately. We implement risk management measures including controls over compliance processes and monitor their effectiveness.
The group head of tax owns and implements our approach to tax. The group head of tax is also responsible for ensuring that policies and procedures that support the approach are in place, maintained and used consistently throughout the organization, and that the global tax team has the skills and experience to implement the approach appropriately.
7. Further information
NielsenIQ regards this publication as complying with the duty under UK Section 19, Finance Act 2016, paragraph 22(2).