Our approach to tax Our purpose and values Our values and behaviours, outlined in the Barclays Code of Conduct called The Barclays Way, govern our way of working across our business Our purpose is to help people achieve their globally. It constitutes a reference point covering all aspects of colleagues’relationships,specifically(butnotexclusively)with ambitions – in the right way. This sits at the customers and clients, governments and regulators, business partners, core of our business and underpins everything suppliers, competitors and other Barclays’ employees. we do. We believe that only a business Our key objectives driven by strong values can deliver strong, Our approach to tax is rooted in our overall purpose and values and sustainable returns. has three core objectives: ■■ responsible approach to tax ■■ effective interaction with tax authorities ■■ transparency in relation to our tax affairs. Our approach to tax is built around ensuring we meet these objectives. We expand on the key elements of our approach on the following pages. Barclays’ approach to tax The key elements of Barclays’ approach: Our tax principles Our tax principles allow us to balance the needs of our The objectives that Barclays seeks to achieve: stakeholders including shareholders, customers, tax Responsible approach to tax authorities and regulators when making decisions Ensuring we manage our tax affairs in accordance with our Our tax code of conduct and tax principles and tax code of conduct, our returns are filed ‘no surprises’ approach on time and the correct amount of tax is paid We operate and interact with tax authorities in the right way and in a way that they would expect Effective interaction with tax authorities Our governance Having a constructive and professional relationship with Ultimate responsibility for tax risk resides with the the tax authorities is key to how we manage our tax affairs Board and our governance ensures that suitably qualified We also actively support and work with tax authorities to people are involved in decisions related to tax combat tax evasion Our engagement Transparency in relation to our tax affairs We seek to clearly explain our tax position within Striving to be a leader in tax transparency by expanding our reports, filings and publications external publications such as the Country Snapshot and making clear disclosures to tax authorities Our view on tax evasion Tax evasion is a criminal activity which involves deliberately concealing income or assets from tax authorities Tax evasion is wrong and we actively invest in and support initiatives to combat tax evasion  BarclaysPLCCountrySnapshot2016 • 06