Company: BCS
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0000312069-25-000114
Chunk: 346

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 20-F
Chunk 346
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;2,891m Taxes paid globally in more detail &pound;m 1,283758 637 155 58 n Corporation tax and withholding taxes n Employer payroll taxes n Irrecoverable VAT n Bank levy n Other taxes including business rates 2023 taxes paid globally &pound;2,505m Tax contribution We continue to make substantial tax contributions across the jurisdictions in which we operate, both in terms of taxes paid and taxes collected. Our total tax contribution for 2024 was &pound;6,439m. This includes taxes paid of &pound;2,891m which represent a cost to us, and taxes collected on behalf of governments of &pound;3,548m. Barclays was ranked as the seventh- largest UK taxpayer, in terms of taxes paid, in the most recent PwC Total Tax Contribution survey of the One Hundred Group (&#8216;100 Group&#8217;). The 100 Group represents members of the FTSE 100 along with several large UK private companies. Over the last decade we have paid &pound;14bn of taxes in the UK alone. For further details, see our Country Snapshot report at: home.barclays/annualreport Approach to tax Barclays&#8217; Purpose is working together, with all our stakeholders, for a better financial future for our customers, clients and communities. Our approach to taxation, also known as our tax strategy, is aligned with this Purpose as well as our Values of Respect, Integrity, Service, Excellence and Stewardship. Our approach to tax has three core objectives: &#8226; responsible approach to tax &#8226; effective interaction with tax authorities, and &#8226; transparency in relation to our tax affairs. We manage our tax affairs in accordance with our Tax Principles, Tax Code of Conduct and HMRC&#8217;s Code of Practice on Taxation for Banks and aim to file our returns on time and pay the correct amount of tax. We make clear disclosures to tax authorities and we are committed to only dealing with customer and client assets that have been appropriately declared to the relevant tax authority. We are also committed to being a leader in tax transparency. We have published details of the taxes we pay by country and our approach to tax since 2013, and have chosen to expand our external publications such as the Country Snapshot. Our Country Snapshot is publicly available, it sets out our approach to tax in detail, including our Tax Principles, and is reviewed and approved annually by the Barclays PLC Board