Published on: July 17, 2020
Introduction to Intuit’s UK Tax Strategy:
This document is a statement about the tax strategy of a group of UK companies who are directly owned by Intuit Inc. (“Intuit”), a US-based company. The companies are collectively referred to as “Intuit UK,” and include: Intuit Limited, Intuit Holding Limited, MTS Global (Europe) Limited, Intuit Canada ULC, Intuit Canada Tax ULC, Intuit Singapore Pte. Limited and Intuit Australia Pty Limited. Intuit UK intends this statement to meet the obligations with respect to Section 161 and paragraph 19 of Schedule 19 of the United Kingdom Finance Act 2016.
The document relates to all taxes listed in paragraph 15 of Schedule 19 of the United Kingdom Finance Act 2016.
This strategy document will be reviewed regularly and revised whenever necessary.
Governance, risk management and risk tolerance in relation to UK taxation :
The Head of Global Tax is responsible for setting and implementing Intuit’s global tax strategy and managing Intuit’s global tax risks. The Head of Global Tax reviews Intuit’s overall tax strategy and risks with Intuit’s Chief Financial Officer and Chief Accounting Officer on a quarterly basis; and with the Audit Committee periodically. A team of qualified experienced in-house tax and finance professionals manage Intuit’s routine tax matters. Intuit uses external tax advisors for guidance about UK tax laws that are new, complex or uncertain.
Intuit is committed to complying with the tax laws and regulations in all countries in which it operates, including the UK. To ensure compliance and minimization of tax risks, we actively seek to identify, evaluate and monitor tax risks through policies, processes and internal controls including continuously monitoring business and tax legislation changes and holding quarterly Intuit UK tax / finance meetings. Intuit’s risk tolerance with respect to UK taxation is consistent with its overall objective of achieving certainty on tax positions.
Attitude of the business toward tax planning (affecting UK taxation):
Intuit aligns its tax planning with its worldwide commercial activities and business objectives. An Intuit value, integrity without compromise, guides our approach to compliance with tax laws and regulations for both tax planning and compliance in all jurisdictions that Intuit operates, including the UK.
Approach toward dealings with HMRC (Her Majesty’s Revenue & Customs):
Intuit is committed to maintaining a professional, open and transparent relationship with tax authorities in all jurisdictions in which it operates, including the UK. Intuit engages with tax authorities, including the HMRC, with honesty, integrity, transparency, respect and fairness.