Cristal UK Group Tax Strategy Statement
The Cristal group is one of the largest producers of titanium dioxide and a leading producer of titanium chemicals. Cristal is the world’s leading supplier of ultrafine titanium dioxide products and titanium chemicals and is a fast-growing producer of mineral sands and titanium metal powder. Cristal operates eight manufacturing plants in seven countries on five continents and employs nearly 3,400 people worldwide.
In line with the Cristal Code of Business Conduct , we conduct our operations with honesty, integrity, pride and transparency. We will protect the environment and the health and safety of our family members, as well as our contractors, customers and the public.
This strategy document applies to all the UK entities within the Cristal group. The publication of this UK strategy is regarded as satisfying the requirements of Schedule 19 of the Finance Act 2016.
Commitment to compliance
As a result of our activities the Cristal group pays a variety of taxes and collects taxes on behalf of various authorities around the world, including HMRC in the UK.
We comply with all applicable tax laws and regulations which for us means paying the right amount of tax at the right time. This also involves disclosing all relevant facts and circumstances to the tax authorities and claiming reliefs and incentives where available.
Approach to UK tax risk management and level of acceptable UK tax risk
Given the scale of our business and variety of tax obligations, tax risks will inevitably arise from time to time in relation to the interpretation of tax law. Consistent with the Group’s Code of Business Conduct, we proactively seek to identify, evaluate, manage and monitor tax risks. We maintain appropriate internal processes and controls for the management of taxes. Where there is significant uncertainty or complexity in relation to tax, external advice is sought.
Attitude towards UK tax planning
There may be choices in how we execute commercial transactions and will therefore consider taxation as part of the decision making process, with the aim of delivering sustainable value for our people, customers, partners, suppliers and investors.
We conduct transactions between group companies on an arm’s-length basis and in accordance with OECD principles. We seek to claim tax reliefs and incentives where appropriate to minimise and control our tax costs.
Approach to dealing with HMRC
We aim to have an open, transparent and productive relationship with HMRC. We communicate proactively and strive to work with tax authorities to resolve any disputed matters through discussion.