The following statement sets out the tax strategy of all American Express Global Business Travel’s (“GBT”) entities organized in the UK in compliance with Schedule 19 of the Finance Act 2016. It is effective for the financial year ending 31st December 2023 and will be reviewed annually and updated as necessary.
Governance in relation to UK Taxation and Managing Tax Risk
At GBT we earn our clients’ trust by providing outstanding service and committing to always do the right thing. GBT recognizes that tax is an area that inherently carries some levels of risk due to the complexity of tax laws, the variety of taxes we pay in the jurisdictions where we operate, and that tax laws may be interpreted differently by the taxpayer and tax authorities.
- GBT takes a conservative approach to tax risk being mindful of reputational considerations. GBT is committed to being a responsible tax payer and complying with tax regulations in the jurisdictions where we operate.
- GBT’s tax strategy is approved by the Board of Directors. It is implemented throughout the company by the CFO and the Head of Tax with support from the tax team members and broader local finance teams.
- GBT maintains appropriate accounting systems and controls to support its tax compliance obligations and ensures governance and assurance procedures are appropriate.
- To manage inherent tax risks, GBT’s internal controls require periodic performance monitoring and testing. The results of such testing are communicated to stakeholders and remedial action put in place as necessary.
Attitude to Tax Planning
GBT’s Code of Conduct requires that GBT conduct business in accordance with all applicable laws and regulations at all times and this same requirement applies to how GBT approaches its tax strategy. GBT’s Code of Conduct is available at: https://www.amexglobalbusinesstravel.com/company-overview/
- GBT has an in-house tax department staffed by experienced tax professionals. External tax advice may be sought when the tax department may not have the necessary expertise in-house. For example, tax laws periodically change resulting in the need of a technical expert.
- GBT may engage in tax planning to support the commercial needs of its business. GBT only undertakes tax planning in the context of wider business activities having a commercial rationale or purpose. GBT will use incentives and reliefs to minimize the tax costs of conducting its business activities while remaining compliant with all relevant laws and will not use incentives and reliefs for purposes which are knowingly contradictory to the intent of the legislation.
Working with HMRC
GBT is committed to working in a collaborative, open and transparent manner with HMRC. We aim to respond to information requests by HMRC in a timely manner and to take a cooperative approach to resolve queries over the interpretation of tax law. December 18, 2023.