This document summaries the tax strategy of International Beverage Holdings (UK) Limited and its UK subsidiaries, the publication of which fulfils the requirements of paragraph 19(2) of Schedule 19 of the Finance Act 2016 for the year ended 30 September 2022.

International Beverage Holdings (UK) Ltd Tax Policy, which is aligned to our ultimate parent company's ThaiBev and approved by the Managing Director, is to:

Risk Management

We manage tax risks in such a way as to ensure that key risk areas are monitored and material risks minimized. Diligent professional care and judgement will be employed to assess tax risks in order to arrive at well-reasoned conclusions on how tax risks should be managed. Where there is uncertainty as to the application or interpretation of tax law, appropriate advice, evidencing the facts, risks and conclusions may be taken from third party advisors to support the decision-making process.

Tax Planning

The Group's tax planning aims to support the commercial needs of the business by ensuring that the companies' affairs are carried out in the most tax efficient manner whilst remaining compliant with all relevant laws. The tax function is therefore involved in commercial decision making processes and provides appropriate input into business proposals to ensure a clear understanding of the tax consequences of any decisions made. The company will also seek external advice where necessary.

Tax Risks

Approach towards dealings with HMRC

The Group is committed to the principles of openness and transparency in its approach to dealing with HMRC, and in particular the Group commits to: