Tax principles

Responsibility

RB’s approach to Tax Management and our Global Tax Principles

RB recognises the increasing complexity of tax regulation around the world and supports efforts to increase trust and understanding of the tax system.

We are open to a dialogue with all those who seek to better understand our business and its policies. The principles of our Global Tax Policy are detailed below.

RB operates to a Tax Policy agreed by its Board.

This policy applies to all the Taxes we incur – including not just Corporate Taxes but also Employment Taxes, VAT and Sales Taxes, duties and other levies.

Our priority is to ensure our reputation for the highest levels of corporate governance and responsibility is maintained and enhanced by strict observance of our Tax Policy which is consistently applied to all the things that we do.

RB’s Global Tax Principles

As a company we are guided by the following Tax* principles: 

  • We act in accordance with and seek to comply with all relevant Tax laws and obligations in all the countries in which we do business.

 

  • We abide by Tax guidelines and standards (including both those determined by the countries in which we operate and by international treaties and conventions). We monitor, adjust and review our Tax Policy on an ongoing basis to ensure we remain compliant as tax laws change.

 

  • We are committed to paying the taxes determined by the laws in each country where we do business. The taxes we pay are in accordance with where value is created taking into account agreed transfer pricing principles.

 

  • We do not engage in Tax evasion, nor planning that aims to achieve results that are contrary to the clear intention of Governments. We do not engage in transactions that are artificial or contrived nor seek to exploit shortcomings within the relevant legislation.

 

  • We believe in an open and constructive dialogue with Tax Authorities and we seek to maintain co-operative and trusted relationships at all times. We will be transparent in all our dealings with Tax authorities and other regulators.

 

  • We take all appropriate steps to demonstrate that we are a compliant business with effective tax management processes and controls. The Group works with tax authorities in a timely and constructive manner to resolve disputes should they arise.

*Tax includes corporation taxes, duties, payroll and employment taxes and also indirect taxes such as sales tax and VAT levied on products sold to customers.