Bridgetown Holdings Limited & Subsidiaries Tax Strategy
This document, approved by the board of directors on 20th April 2018 as evidenced by board minutes, sets out the approach to managing Bridgetown Holdings and its subsidiary's tax affairs and dealings with tax risks. It is effective for year ending 31st May 2018 and will be updated annually; approved by the board. The group aims to ensure it accurately calculates and pays the correct amount of tax at the right time under all relevant laws and regulations.
The group engage with tax authorities professionally based on the concepts of integrity and collaboration. We adhere to relevant tax laws, rules, regulations, reporting and disclosure requirements and seek to minimise risk of uncertainty or disputes. The group apply professional diligence and care in the management of all tax risks.
Attitude to tax planning
The groups tax planning aims to support the commercial needs of the business by ensuring that the company’s tax affairs are managed in the most tax efficient manner whilst remaining compliant with all relevant laws. Any tax planning which is undertaken will be considered with the commercial objectives of the business. The group does not engage in aggressive tax planning which has no direct commercial objective. Where tax guidance is unclear the group seeks external advice to support the group’s decision making process.
Management of Risk
The group maintains a tax risk register which regularly assess the internal tax risks. Given the size of the business there is a small risk of error or omission within processes which may result in the incorrect application of tax rules or calculations. To reduce the level of tax risks as far as is reasonably practical the group review and monitor activities and processes to identify key risks and ensure that mitigating controls are in place. External advice is taken on any area of uncertainty.
Dealing with tax authorities
The group is committed to ensure all interactions with tax authorities are conducted in an open, collaborative and professional manner. The group is dedicated to make fair & accurate timely disclosures and respond to queries with information requests in a timely custom. All dealings on decision making will be conducted openly and transparent in all areas of governance and tax planning, whilst following all applicable laws and regulations relevant to taxation.