UK Tax Strategy

Tax strategy and compliance

The BAWAG Group is committed to acting with integrity and transparency in all tax matters. We pay taxes promptly and in accordance with all applicable laws and regulations in the countries we operate in.

We make timely and accurate tax returns that reflect our fiscal obligations to Governments.

We aim for certainty on tax positions and our policy is not to make interpretations of tax law that are opposed to its original spirit.

We will not engage in or promote tax optimisation transactions, structures or arrangements that might be perceived as aggressive.

To support us in ensuring that we have interpreted tax law and its spirit correctly, we seek advice from tax advisors as appropriate.

Transparency

We are transparent about our approach to tax and comply with all the relevant rules regarding transparency.

We support initiatives to improve international transparency on taxation matters, including OECD measures on country-by-country reporting and automatic exchange of information.

Our relationship with tax authorities

Wherever we operate, we seek to establish and maintain an open and constructive dialogue with local tax authorities and other government bodies, based on the disclosure of all relevant facts and circumstances. In the UK, we comply with the Government’s Code of Practice on Taxation for Banks.