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2023 TAX STRATEGY

INTRODUCTION 

This strategy applies to GT Motive Ltd which is part of the Allianz Group. 

The Allianz Group of which GT Motive Ltd is a part of, has a global reach operating in more than 70 countries including the UK.  Being a tax collector as well as a taxpayer, tax is an integral part of our overall Group business principles and codes.

GT Motive Ltd as part of the Allianz Group acts transparently and responsibly in all tax matters and works closely with experts, accountants and tax authorities, including HMRC, to ensure that we pay our fair share of taxes.

GT MOTIVE LTD TAX STRATEGY AND PRINCIPLES 

The GT Motive tax strategy includes the following key rules and principles: 

  • Full compliance with tax regulations, accurate and timely reporting and effective tax risk management.
  • Existence of a sound organisational set up for appropriate tax management.
  • Full compliance of tax planning and optimisation activities with tax laws, supported by solid business reasons to sustain a credible longterm reputation with tax authorities.
  • Disclosure of meaningful tax information in a transparent way.
  • Continuous improvement and harmonisation of tax processes through simplification and digital solutions

TAX RISK MANAGEMENT AND TAX GOVERNANCE 

We are committed to a transparent compliance and disclosure policy, seeking to maintain good relationships with tax authorities, acting as a trusted partner, paying accurate amounts of taxes in a timely manner.   

In order to achieve consistent and full implementation of our tax strategy, GT Motive operates local tax functions in its major operations including the UK.     

GT Motive Ltd’s appetite for tax risk is low.  We therefore seek to minimise tax risks by actively and continuously identifying, assessing, monitoring and managing them.

TAX COMPLIANCE AND TAX ADVOCACY 

We constantly aim for certainty in our tax positions and obtain internal or external advice and validate our position where appropriate.  If we seek rulings from tax authorities to confirm an applicable tax treatment, we do so based on full disclosure of all relevant facts and circumstances.   

We seek efficiency in tax matters, including the prevention of double taxation and pay only the tax due following reasonable interpretation and application of tax rules.   

We do not engage in aggressive tax planning or artificial structuring that lacks business purpose or economic substance.  Our tax activities are conducted with the clear understanding that all facts and circumstances must be disclosed to tax authorities. 

This strategy is aligned with our Code of Conduct and is approved, owned and overseen by GT Motive.   

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