JTB Europe (“the company”) provides innovative, flexible travel services and unique experiences for visitors to Japan and other countries.
JTB Europe is part of the JTB Group (Japan) network that has been servicing the travel industry since 1912. It now has over 150 companies and 900 offices around the world.
The company is also providing land arrangements, booking and coordination of travel services, tourists coach and sightseeing services to Japanese tourists visiting Europe.
Commitment to compliance
The JTB group has its own “JTB Group Codes of Conduct” wherein all directors and employees bear the responsibility of compliance and considering fairness as important and build trustworthy relationships with society. We shall comply with all laws, regulations, and societal rules. We shall carry out fair and highly transparent corporate activities, construct a relationship of mutual trust with society and aim to raise our corporate value.
The company is committed to compliance with tax law and practice in the UK and all other jurisdictions in which the company operates.
Tax risk management and governance
The UK tax strategy is aligned with the group codes of conduct and, the JTB Group’s overall risk strategy which is to ensure that:
1. All tax legal requirements including tax compliance and reporting responsibilities are fully met;
2. Tax reliefs and incentives where available are utilized consistent with the aim of the legislation;
3. Transactional taxes such as VAT are managed through the functionality of its IT system.
The company seeks to minimize any areas of tax risk, and this is done by ensuring that we have robust processes in place for managing tax compliance. Where there is uncertainty as to the application or interpretation of tax law, we work with tax advisors to manage the inherent risk.
The company does not engage in any aggressive tax planning to artificially reduce its tax liability. Where an assessment of tax impacts is undertaken, the preferred option is to adopt an approach with a low tax risk.
All intercompany transactions are made at arm’s length, in compliance with OECD principal and supported by a comprehensive benchmarking analysis.
Working with HMRC
An important part of our tax strategy is the maintenance and development of co-operative and proactive working relationship with HMRC. We engage with HMRC with honesty, integrity, respect, and fairness and in a transparent manner. Wherever possible, we do so on a real-time basis, to minimize tax risk.
Approved by the Board on 23rd March 2018.