Wirecard Card Solutions Ltd Tax Strategy

Wirecard Card Solutions Ltd Tax Strategy – Year Ending 31 December 2019

Wirecard Card Solutions Ltd is an established, low risk card issuer focussed on delivering transparent and straightforward products. We adopt this same low risk appetite in our approach to our tax affairs and our tax strategy. We work hard to optimise outcomes for all of our stakeholders, and this is central to ensuring we pay the right amount of tax at the right time.

Tax risk management and governance in relation to UK taxation

Ultimate responsibility for Wirecard Card Solutions Ltd’s tax strategy and compliance rests with the company’s Board of Directors.

Day-to-day management of Wirecard Card Solutions Ltd’s tax affairs is delegated to the Head of International Tax and Group Accounting, and the Head of Financial Risk of the Wirecard Group. They are further supported by external, suitably qualified, professional advisors.

Tax risk is minimised by taking all reasonable steps to ensure that any factors which could materially affect the company’s tax affairs are given due consideration by the company’s Board of Directors.

Where there are any areas of uncertainty the company engages its external professional advisors to provide specialist advice as and when this is needed.

Attitude towards tax planning and level of risk

In operating our tax risk management and governance processes, Wirecard Card Solutions Ltd has a low appetite towards tax risk. We are committed to full compliance with our tax obligations, paying the right amount of tax at the right time. We seek to ensure that our tax arrangements remain consistent with a low risk assessment, both in financial and reputational terms.

In conducting its tax affairs, Wirecard Card Solutions Ltd utilises such tax reliefs that are legislated by the UK Government in the manner in which they are intended to be used by the UK Parliament.  The company does not engage in any aggressive tax planning or enter into any arrangements the objective of which is to avoid tax.

Relationship with HMRC

We engage with HMRC openly and constructively, based on mutual trust and co-operative compliance. We feel this is the best way to ensure that we pay the right tax at the right time and to maintain a good working relationship.

We consider that the above statement complies with Wirecard Card Solutions Ltd’s obligation under the provisions of Schedule 19 to the Finance Act 2016.