This statement sets out the tax strategy of Trimble Inc., its subsidiaries, and affiliates (collectively, "Trimble") for the financial year ended on December 29, 2023. This strategy applies to all UK taxes applicable to Trimble.
Approach to tax risk management and governance arrangements
The Chief Financial Officer and Vice President, Global Tax are responsible for the management of the tax affairs of the group.
Trimble's tax strategy is carried out in coordination with Trimble's Tax Department. Trimble's Tax Department works with all Trimble affiliates to ensure that: (1) The tax strategy is adopted and followed consistently; (2) The tax strategy is aligned with our overall approach to corporate governance and risk management, including with our Business Ethics and Conduct Policy; and (3) Trimble pays, on a timely basis, the correct amount of tax required of it under the laws of the countries in which it operates.
As the leadership of the Trimble Tax Department is located in the United States, we utilize professionals from international accounting firms to assist with identifying and resolving UK tax issues resulting from legislative or business changes, and for the preparation of income tax filings in the UK. Management of the Trimble Tax Department and local corporate management consult regularly with such outside professionals to ensure that the necessary facts and circumstances have been communicated to such third parties to allow for proper resolution of issues and correct completion of returns.
Commitment to compliance
We comply with tax law and practice in all of the territories in which we operate, including the UK. Compliance for us means paying the right amount of tax in the right place at the right time and involves disclosing all relevant facts and circumstances to the tax authorities and claiming reliefs and incentives where available.
Attitude toward tax planning
In structuring our commercial activities we will consider – among other factors – the tax laws of the countries within which we operate with a view to maximizing value on a sustainable basis for our shareholders. Any tax planning undertaken will have commercial and economic substance and will have regard to the potential impact on our reputation and broader goals. We will not undertake planning that is contrived or artificial.
Level of tax risk accepted
Given the scale of our business and volume of tax obligations, risks will inevitably arise from time to time in relation to the interpretation of tax law and nature of our compliance arrangements. We proactively seek to identify, evaluate, manage and monitor these risks with the objective of minimizing UK tax risk. Where there is significant uncertainty or complexity in relation to a risk, external advice may be sought.
Approach to dealing with tax authorities
We engage with tax authorities, including HMRC, with honesty, integrity, respect and fairness and in a spirit of cooperative compliance. We strive to be open with HMRC, to provide prompt and up-to-date information about how we manage our tax responsibilities, and to ensure our relationship with HMRC is efficient and effective for both parties.
Trimble regards this publication as complying with the duty under Schedule 19 of the UK Finance Act 2016.