National Initiatives

UK TAX RISK

MUK is an UK registered company, primarily selling and distributing from the Warstone Lane, Birmingham, premises, and also serving the Netherlands and other local markets from a warehouse in Eindhoven. The company is registered for VAT in the UK and the Netherlands.

MUK is a directly owned subsidiary of Metalor Technologies International SA (MTSA) a company incorporated in Switzerland. MTSA is 100% owned by Tanaka Holdings Co. Ltd (Tanaka) a company registered in Japan.

It is the intention of Tanaka and MTSA to comply with all applicable tax laws, rules, regulations and disclosure requirements: and to pay the right amount of tax in a prompt and timely manner in all territories where they operate.

Tanaka, MTSA and MUK have a zero tolerance attitude to tax risk.

THE MANAGEMENT OF TAX AFFAIRS

MUK, whilst qualifying as a large business from the sale of precious metal products only has 26 employees, and pays varying amounts of tax to local and national fiscal authorities namely:

VAT
Corporation Tax / Employers National Insurance / Local property taxes / Customs and excise duties / Environmental taxes

ON BEHALF OF EMPLOYEES
Income tax /?Employees National Insurance

In addition to the accounting for, and reporting of, the tax categories above, MUK as the seller of standard rated gold uses the procedures as set out in the special accounting scheme for VAT.

TAX PLANNING AND COMPLIANCE
Corporation tax planning is undertaken by MUK, but the reporting and compliance service is provided by external professional advisors. In all the other tax categories MUK seeks and uses guidance from external professional advisors as and when appropriate.

Working with HMRC

MUK has a frank and open working relationship, and is completely transparent in all its dealings and disclosures, with HMRC.

FINANCE ACT 2016 REQUIREMENTS
This document is deemed to comply with Paragraph 22(2) Schedule 19, Finance Act 2016 and with all other obligations within Schedule 19 Finance Act 2016

MODERN SLAVERY ACT

At the heart of our approach to human rights are a number of important internationally recognised declarations, standards and codes. These are the foundations for how and where we work, and include:

? The UN Universal Declaration of Human Rights
? The International Labour Organization (ILO) Declaration on Fundamental Principles and Rights at Work
? The UN Guiding Principles on Business and Human Rights
? The UN Global Compact

Our approach to addressing modern slavery sits within this wider human rights agenda. Metalor strategy is supported by our

? Code of Business Conduct
? Child and Forced Labour Policy
? Supply Chain Due Diligence Policy

which applies to our Group and sets out our obligations to customers, employees, suppliers, stakeholders and communities in our own operations and supply chain. We take any breach of our policies or allegations extremely seriously. Performance against our policies, including on modern slavery, are reviewed by the Group Compliance Committee chaired by the Group CEO.

MODERN SLAVERY STATEMENT

Metalor Technologies group do acknowledge and recognize its responsibility for the impact of its business activities on the people who work for or with us and the people within the communities where we operate. We act on this responsibility by using our influence to promote and protect the human rights of all those we work with and alongside. Metalor supports, and expects all its suppliers to support the principles defined within conventions, rules and policies that are part of Metalor Policies on Modern Slavery. Metalor continues to work to improve its approach to tackling modern slavery and increasing supply chain accountability.

We are the world’s first refiner to meet LPPM’s Responsible Platinum and Palladium standards