Masco Corporation(“Masco”或“我们”), 特拉华州公司, 是设计领域的全球领导者吗, manufacture and distribution of branded home improvement and building products. We are the parent company of certain UK companies, 包括上述英国公司, 并与英国公司合作, we regard the publication of this Tax Strategy Statement as complying with our duty under paragraph 19 (2) of Schedule 19 of the Finance Act 2016 (the “Schedule”) to publish our group tax strategy in the current financial year.

Taking each of the requirements of the Schedule in turn:

We are committed to complying with all laws applicable to our business. Our Legal and Ethical Compliance Program (“Compliance Program”) consists of a number of elements designed to help employees understand, implement and consistently reinforce our commitment to ethical business practices. Our Compliance Program applies to everyone in our organisation and includes the following:

Masco的商业道德准则，

奥运道德热线;

Masco道德培训，

Masco Legal and Ethical Compliance Policies, and

the Legal and Ethical Compliance Program Certification.

Our Chief Financial Officer maintains oversight and responsibility for our global tax strategy, supporting governance framework and related tax risks. Our Vice President of Tax reports to our Chief Financial Officer and is responsible for implementing Masco’s tax strategy.

Our tax administration and planning as it relates to the UK is aligned with the risk and control structures for our UK companies and is incorporated with our overall corporate governance framework to assure consistency and accountability of our UK companies’ tax strategies. Masco’s tax strategy is periodically discussed with our Board of Directors.

Our organisation has employees in over 30 countries, and we are exposed to a variety of tax risks as follows:

1.2.1税务合规和报告风险
与法规遵从失败相关的风险, such as submission of late or inaccurate returns or the failure to submit accurate claims and elections on time;

1.2.2交易风险
Risks associated with undertaking transactions without appropriate consideration of the potential tax consequences or where advice taken is not correctly implemented; and

1.2.3声誉风险
Non-financial tax risks that may have an impact on Masco’s relationships with shareholders, 客户, 税务机关和公众.

To help manage the tax risks as well as other operational risks of our UK companies, our organisation includes oversight functions that monitor and support our business units. These functions include tax, group controllers and internal audit.

We regularly review the activities and responsibilities of the tax function related to our UK companies to help ensure that an appropriate level of resources is available.

在适当的地方, we look to pro-actively engage with tax authorities to disclose and resolve issues, 风险和不确定的税务状况.

We recognise that we have a responsibility to pay an appropriate amount of tax in each of the principal jurisdictions in which we operate. We aim to balance this with our responsibility to our shareholders to structure our affairs in an efficient manner.
The commercial needs of our UK companies are paramount and all tax planning must have a business purpose. The economic benefits associated with tax planning must never override compliance with all applicable laws. 我们力求使我们的税务安排有效率, 易于理解的, transparent and based on soundly researched tax law.

我们对税务风险的容忍度很低. We are committed to full compliance with our tax obligations, 在适当的时间缴纳适当的税款. We seek to ensure that our tax arrangements remain consistent with a low risk assessment, 无论是在财务上还是在声誉上.

We are committed to efficiently complying with our tax filing, tax reporting and tax payment obligations globally. We endeavour to pro-actively engage with HMRC openly and constructively, based on mutual trust and co-operative compliance. We believe that this is the best way to ensure that we pay the right tax at the right time and to maintain a good working relationship. 在适当和可能的情况下, we endeavour to engage with HMRC on a real-time basis in any areas of material uncertainty in order to minimise our tax risk and to provide greater certainty for both parties in advance of formal tax filings.

2022年12月21日更新