Company: BCS
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0000312069-25-000114
Chunk: 348

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 20-F
Chunk 348
---
-house professionals who are subject to clear standards including that they uphold our Tax Principles and follow our Tax Code of Conduct, which is an integral part of how we operate &#8226; our governance requires that suitably qualified people are involved in decisions related to tax, tax is fully taken into account when making business decisions and tax risk is identified, assessed and kept under review, and &#8226; we have no tolerance for tax evasion, have measures in place to prevent tax evasion facilitation and have well- established mechanisms for speaking up about unethical or unlawful behaviour through our raising concerns and whistleblowing processes, which apply equally to tax matters. Stakeholder engagement and management of uncertainties related to tax: Our reputation is very important to us and we take our external stakeholders&#8217; expectations into account when we make decisions in relation to our tax affairs. More details on our approach to stakeholder engagement and managing stakeholder concerns related to tax can be found in our Country Snapshot, and key highlights include: &#8226; we believe that it is important to be transparent in the disclosure of our tax affairs both to tax authorities and stakeholders more broadly &#8226; our dealings with tax authorities are handled proactively, constructively and transparently, in real-time where possible &#8226; we recognise that early resolution of our tax affairs is in everyone&#8217;s interest. We have ongoing engagement with tax authorities to discuss their inquiries and material issues in relation to our tax affairs, and we respond to feedback from tax authorities &#8226; where we face significant uncertainty in relation to the application of tax law, we may seek to agree with the tax authority how the tax law should apply &#8226; where relevant we seek to reach agreement with tax authorities using mechanisms available to all taxpayers including Advance Pricing Agreements and Mutual Agreement Procedures to clearly establish in which territories our profits should be taxed &#8226; we engage with governments, tax authorities and NGOs through public consultations and other discussions to assist with the development of tax policy and the improvement of tax systems, and maintain our transparency with these stakeholders, and &#8226; we cooperate with tax authorities globally to reduce the scope for individuals and companies to evade tax, and have met all of our 2024 information reporting obligations under the Common Reporting Standard and Foreign Account Tax Compliance Act. The BPLC Board Audit Committee is responsible for considering the Group's tax strategy and overseeing compliance with the Group's Tax Principles. Please refer to page 91 for details of BPLC Board Audit Committee oversight of tax related matters.