For Publication in December 2017
Global Tax Policy
This statement of tax policy is being published in accordance with Schedule 19 of the Finance Act 2016.
1. Introduction and commitment to compliance
Bloomberg (the “Company”), the global business and financial information and news leader, gives influential decision makers a critical edge by connecting them to a dynamic network of information, people and ideas. The Company’s strength – delivering data, news and analytics through innovative technology, quickly and accurately – is at the core of the Bloomberg Professional service. Bloomberg’s enterprise solutions build on the Company’s core strength: leveraging technology to allow customers to access, integrate, distribute and manage data and information across organizations more efficiently and effectively.
The Company is committed to compliance with tax law and practice in all of the territories in which it operates, including the UK. Our global business incurs and pays a substantial amount and variety of business taxes around the world, including income taxes, employment taxes and indirect taxes.
2. Attitude toward tax planning
When the Company executes its commercial and economic activity, tax implications are considered. The Company’s tax planning adheres to relevant tax law and seeks to minimize the risk of uncertainty. The Company does not engage in arrangements or structures without economic substance.
3. The level of tax risk we are prepared to accept
The Company actively seeks to identify, evaluate, monitor and manage various types of tax risks to ensure they remain in line with the Company’s commitment to adhere to compliance with the tax laws. Where there is significant uncertainty or complexity in relation to a risk or an opportunity, external advice may be sought.
4. Approach in dealings with Tax Authorities
The Company actively works on maintaining a transparent relationship with tax authorities around the world. In the event of an inquiry or request for information from any tax authority, the Company works collaboratively wherever possible with such tax authority to resolve and to achieve early agreement.
5. Governance and risk management
The Company ensures its global tax obligations and tax planning are carried out by qualified tax professionals with adequate training, experience and credentials. Controls are in place so that the Company’s tax filings are submitted and its strategies implemented only after review by qualified tax professionals.
The day-to-day management of tax risks is overseen by the group tax team, headed up by the Head of Global Tax, who reports into senior management. Senior management of the Company is apprised of significant tax matters including the tax strategies implemented and outstanding tax risks and exposures. Senior management has responsibility for the governance of all tax matters and has responsibility to ensure that the Company’s global tax obligations are met and that its tax planning strategies are in conformity with the tax laws of the jurisdictions in which it operates.