Corporate Information

Tax Strategy

Oki – Our approach to tax in the UK

Oki is a leading printer brand, and our group’s principal activities are the manufacturing, marketing and sale of information technology products, primarily printers and multifunction devices and the related consumables.
We are dedicated to being a trusted partner for all of our stakeholders including shareholders and investors, employees, customers, suppliers and the local communities in which we operate. We will continue to embrace positive corporate activities in order to contribute to improving the quality of life of people around the world.
Oki Group has two subsidiaries in the UK - Oki Europe Limited and Oki Systems Holdings Co Limited, and this tax strategy applies to these entities in respect of their UK tax affairs. 
Our approach to tax is aligned to our global code of conduct (available here) which embeds our commitment to act in full compliance with all of the applicable laws of each country in which we operate, in accordance with societal norms fostering higher ethical standards. 

Our approach to tax risk management and governance

The governance of our UK tax affairs is led by the Boards of Directors for our UK companies, and each Board is committed to ensuring that the relevant company meets its business and financial objectives. The Boards also take responsibility for the tax risk management of the business and make decisions on any significant tax matters. The Boards delegate authority to the Vice President of Finance and Finance Director of the respective companies to deal with our day to day tax compliance matters, working together with the Finance teams. 
Our approach to tax is governed by our Tax Policy, which outlines the way in which we control and manage tax risks, and how we ensure that when we make business decisions tax consequences are carefully assessed and taken into consideration. Our Finance team is staffed with individuals who are appropriately trained to deal with the tax affairs of our business, and all of our tax filings and payments are subject to an internal review process. We also consult with our external tax advisors on technical matters as required.
We are committed to meeting all of our UK tax compliance requirements including paying the correct amount of tax and filing tax returns on time, as well as fulfilling our Senior Accounting Officer (SAO) obligations in relation to reviewing whether our tax accounting arrangements are appropriate.
Our SAOs have an important role in achieving our tax strategy, as they provide oversight of the processes and controls in place to mitigate tax risks. We have robust processes and controls with regards to tax risk management and these are subjected to self-check every year. We also consult with our external advisors as required in order to sufficiently assess tax risks.

The level of tax risk we are prepared to accept

We have a low tolerance towards tax risk, and our approach to tax risk is clearly defined in our Tax Policy and is understood within the business.
When we consider tax risks, we take into account the views of our stakeholders including our investors, employees, customers and suppliers, as well as how those risks may impact our relationship with HMRC.

Our attitude to tax planning

We utilise government tax incentives, reliefs and exemptions in accordance with the legislation, as intended by government. We consult with our external advisors to ensure that tax incentives are claimed and disclosed appropriately.
We do not undertake any tax planning which is artificial in nature, and our tax affairs reflect the commercial reality of our transactions.

Our approach to dealings with HMRC

As a large business in the UK, Oki Group has a Customer Compliance Manager (CCM) at HMRC. We aim to maintain an open and honest relationship with our CCM.
We work collaboratively with HMRC, and if there are any issues or uncertainties, we proactively consult with our CCM. We also aim to inform our CCM of any significant changes to our business and maintain a regular dialogue.
This tax strategy has been approved by the Vice President of Finance of Oki Europe Limited and Finance Director of Oki Systems Holdings Co Limited and is published in accordance with paragraphs 19(2) and 22(2) of Schedule 19 of the Finance Act 2016.
This publication relates to the year ended 31 March 2023.

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