Tax Strategy

2017-12-18

Alltech Tax Strategy

Alltech, headquartered in Kentucky, USA, is a leading global biotechnology company whose mission is to improve the health and performance of people, animals and plants through natural nutrition and scientific innovation. We pursue this mission guided by what we call the ACE principle, our promise that in doing business we have a positive impact on the Animal, the Consumer and the Environment. We help farmers feed the world, raise healthy animals, and protect the environment through nutritional innovation. 

Alltech has a substantial businesses and employment presence in many countries around the globe and we pay our share of tax, including corporation and other business taxes, as well as tax associated with our employees.

Our Tax Principles

Our tax guiding principles include that tax planning and transactions must have a business purpose or commercial rationale.  We carefully manage the tax risks, cost, and compliance inherent in every commercial transaction.

We do not engage in artificial arrangements to avoid taxation. We adhere to relevant tax law and we seek to minimize the risk of uncertainty or disputes.

Governance

The Tax function work closely with the business stakeholders to carefully manage and mitigate tax risk associated with business undertakings.

We seek tax advice and opinions from reputable external advisors in respect of material business transactions.  Significant tax planning is subject to internal review and an approval process.

Our senior management team review such tax planning strategies with the head of tax and provide stakeholder’s approval prior to the implementation.

Furthermore, we engage reputable service providers to prepare our income tax filings to ensure we comply to each tax jurisdiction’s tax filings and reporting requirements.

Tax Risk Management

We follow Alltech’s risk management system as part of our internal control processes. We identify, assess and manage tax risks and account for them appropriately. We implement risk management measures including controls over compliance processes and monitor their effectiveness.

Tax Planning

Significant tax planning is subject to internal review and an approval process. We seek tax advice and opinions from reputable external advisors in respect of material business transactions.

Working with Tax Authorities

Our dealings with tax authorities are handled proactively, constructively, and transparently. We recognize that courteous and early resolution of risks are in everyone’s interest, and we respond to feedback from tax authorities.

Alltech UK Ltd

OFFICE

Alltech UK Ltd, Ryhall Road,Stamford, Lincolnshire PE9 1TZ

Tel: 01780 764512 Email: UKreception@alltech.com

 

PRODUCTION FACILITIES

Woolfox Depot, Great North Road, Stretton, Nr Oakham. LE15 7QT  Sat Nav - PE9 4AQ

 

ALLTECH MYCOTOXIN MANAGEMENT - Click here

 

EQUINE INFORMATION - Click here

 

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