United KingdomTax Policy (Ossur UK Holding Ltd and subsidiaries)

In accordance with Schedule 19 of the United Kingdom Finance Act 2016, paragraph 19(2), this Tax Policy sets out the principles that the UK sub-group headed by Ossur UK Holding Ltd incorporated in the United Kingdom follows to manage their tax affairs.

Tax risk management and governance

The Companies are subject to a range of different national and international tax rules. These tax rules are often complex and if there are doubts over the interpretation of the law or risks identified to the Companies’ continuing compliance, external professional advice is obtained to ensure that the position is appropriate.

Attitude to tax planning

It is the Companies’ belief that the tax function may engage in tax planning and make use of tax incentives, reliefs, tax credits and exemptions in line with tax legislation and in the manner that is intended by government institutions. Tax is an integrated part of doing business and tax should follow the business.

Where there is more than one potential way of structuring a commercial transaction, we may consider tax as one of many factors, when determining which approach to adopt. We will not engage in artificial transactions which have the sole aim of reducing tax.

Risk appetite

Being responsible and sustainable means doing business in a way that meets the expectations of good corporate citizenship. This in turn means having a low tax risk appetite and equally low tolerance for tax risks. We aim to ensure predictability of our business including our tax position avoiding aggressive tax planning.

It is the Companies’ policy to be “good citizens” in the United Kingdom. This includes paying the taxes that they are obligated to pay.

The Companies seek to utilise available incentives and tax reliefs as intended by UK Parliament.

The Companies aim to adopt filing positions where it is reasonable to assume that these will be settled in their favour.

Dealing with HMRC

The Companies’ intention is to engage in professional communications with HMRC and to participate in an open dialogue on tax matters, including both existing and future matters of relevance.

If relevant, the Companies will seek dialogue and agreement with HMRC in order to increase predictability and minimise the risk of tax disputes.

We make fair, accurate and timely disclosure in correspondence and returns, and respond to queries and information requests in a timely manner. We provide all relevant information when requested to do so. If we discover errors in tax returns or correspondence with HMRC, we disclose and correct them promptly.

Confirmation

The daily management, actions and operations related to taxes in the Companies are in compliance with this Tax Policy.

This Tax Policy will be regularly reviewed to ensure it remains fit for purpose.

Reviewed and updated on 13 December 2022.