This document sets out the UK tax strategy of Shangri-La Hotels Pte Ltd and Shangri-La International Pte Ltd (together “Shangri-La UK”) in accordance with paragraph 19 of Schedule 19 of the UK Finance Act 2016. Our tax strategy is guided by an overall adherence to corporate responsibility, compliance and managing tax costs of Shangri-La UK while serving our customers, partners, employees and shareholders.
The Shangri-La Group is committed to complying with relevant tax laws and regulations in the jurisdictions in which we operate. The Shangri-La Group’s Code of Conduct outlines the principles and values that influence how we work together to accomplish our mission.
This tax strategy applies to the financial year ending 31 December 2022 and has been approved by the board of directors of each of Shangri-La Hotels Pte Ltd and Shangri-La International Pte Ltd (together the “UK Board”).
Governance and Tax Risk Management
The Shangri-La Group is committed to complying with all relevant tax laws and regulations on a timely and transparent basis. Where necessary, professional resources would be made available to ensure tax obligations are met. The global tax team, with the support of professional advisors, monitors developments and changes in the tax environment that are relevant to the Shangri-La Group’s position. Whilst the UK Board has overall responsibility for UK tax, the UK finance team is responsible for monitoring Shangri-La UK’s day-to-day operations of tax and is supported by the global tax team.
When structuring our commercial activities, we look to ensure that any tax planning positions are based on the proposed commercial business activities and within the tax laws of the country. We will consider legitimate tax incentives, exemptions and reliefs provided by the UK government to all taxpayers.
We do not engage in aggressive tax planning and our overall approach to tax planning is one of low risk. While the Shangri-La Group’s business is expanding in various parts of the world, our UK business has remained relatively unchanged from year to year.
Appetite to Risk
We seek to correctly apply the current tax laws to our business operations and in doing so, aim to minimise our tax risks. Relevant input and advice from professional advisors would be sought where business model changes or legislative changes are likely to impact our tax position.
Working with HM Revenue and Customs
Shangri-La UK seeks to maintain an honest and transparent relationship with HMRC, and any interaction will be in a cooperative manner. We aim to demonstrate honesty, care and integrity in all our relationships. Where tax laws or obligations are unclear, or subject to interpretation, we engage with external tax advisors to ensure we remain fully compliant in all operations. Where applicable, we will work with HMRC to attempt to resolve any differences in a timely and professional manner.