Konica Minolta Group is committed to compliance and strives to be a corporation trusted by all our stakeholders including our customers and business partners throughout the world. Konica Minolta Group is responsive to the social requirements and expectations in support of global initiatives including the United Nations Global Compact and OECD (the Organization for Economic Cooperation and Development).
Konica Minolta Group takes its duty of making the appropriate tax payment seriously, recognising its importance, fulfils its responsibility as a member of society through its company activities, and contributes to the development of the communities in which it operates. In addition, we act and fully understand the importance of transparency including the reporting and exchange of information on tax matters and the cooperation with tax authorities.
Konica Minolta Group engages in efficient tax planning that reflects the commercial activity of our business. We do not engage in artificial tax arrangements. We do not abuse tax havens as a method of tax evasion and act with a resolute mindset to be a responsible taxpayer.
We observe and comply with relevant tax law and seek to minimize the risk of uncertainty or disputes in relation to tax matters.
Konica Minolta group recognizes the importance of transfer pricing as being arm’s length and as a means of ensuring tax payments are made appropriately to locations that contribute value and is committed to ensuring compliance with tax regulations and the related requirements for the timely filing of tax returns and the making of tax payments. Accordingly, in support of the OECD global tax policy on Base Erosion and Profit Shifting (BEPS), we have put in place a mechanism to effectively collect and monitor global tax information, and through this system, enhanced our tax governance activities.
Konica Minolta Group supports the principles and reforms for the appropriate international taxation with greater transparency that OECD and G20 promote and we act on that premise.
The Group Head of Tax owns and implements the Konica Minolta Group Tax Policy and ensures that the skill and the knowledge base of tax staff is updated and the necessary information is shared on a timely basis in Konica Minolta Group. The tax department also conducts training program for management and hold a Global conference on finance and accounting to emphasize the importance of the Group Tax Policy, exchange opinions and provide updates on necessary tax information and current knowledge concepts.
Konica Minolta Group has strict internal control processes, in accordance with the Japanese Sarbanes-Oxley framework, including controls over compliance processes. These controls are monitored on a quarterly basis for effectiveness.
Konica Minolta are committed to compliance with tax law and practice in the UK. Compliance for Konica Minolta means paying the right amount of tax in the right place at the right time. It involves disclosing all relevant facts and circumstances to the tax authorities and claiming reliefs and incentives where available.
Given the scale of our business and volume of tax obligations, risks will inevitably arise from time to time in relation to the interpretation of complex tax law and nature of our compliance arrangements. We actively seek to identify, evaluate, monitor and manage these risks to ensure they remain in line with Konica Minolta’s objectives. Where there is significant uncertainty or complexity in relation to a risk, external advice may be sought.
Konica Minolta engage with HMRC with honesty, integrity, respect and fairness and in a co-operative compliance. Where possible we do on a real time basis to minimize tax risk and any disputed matters resolved through active and transparent discussion.
Konica Minolta Business Solutions (UK) Limited 2020