Our approach to tax Our tax code of conduct and Our tax code of conduct is an integral part of how we operate: ‘no surprises’ approach. ■■ all tax planning is subject to a robust review and approval process ■■ our approach to taxation is clearly explained and publicly Our tax department comprises in-house professionals from a available, and our tax reporting is transparent and helpful to combination of tax, legal and accounting backgrounds. Our tax stakeholders professionals are subject to clear standards to ensure that they ■■ our dealings with tax authorities are handled proactively, uphold the tax principles. constructively and transparently, recognising that early resolution of our tax affairs is in everyone’s interest, and we respond to feedback from tax authorities ■■ any litigation necessary to resolve a difference of opinion will be handled in a way that is consistent with our values. We ensure that, where necessary, we consult with reputable external advisers to help us manage our tax position and to ensure that we are making appropriate decisions. Our aim is to take a ‘no surprises’ approach to our interactions with tax authorities by demonstrating the following behaviours in our dealings with them: ■■ we aim to have professional and constructive relationships ■■ we make our tax returns as clear as possible and we try to raise important issues proactively so that tax authorities can focus their resources effectively ■■ we aim to be co-operative and helpful when dealing with enquiries raised by tax authorities ■■ from time to time, if it is unclear how tax law should be applied, wemayengagewithtaxauthoritiestoconfirmthecorrectapplication of tax law.  BarclaysPLCCountrySnapshot2016 • 08