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The Kyowa Kirin International Group (the “Group”) is a rapidly growing specialty pharmaceutical group engaged in the development and commercialisation of prescription medicines for the treatment of unmet therapeutic needs in major western markets. The Group is investing heavily in expanding into new markets and in launching new products such as Crysvita and Poteligeo. The Group is a 100% subsidiary of Tokyo-based Kyowa Kirin Co. Ltd.

The Group recognises that in each of the jurisdictions in which it operates, the taxes raised are a significant, and direct, contributory factor to the local government’s ability to influence the well-being and health of those who live there.

Tax planning
Clarity and predictability are our two guiding principles in relation to our taxes. The Group has a tax function that is intended to support the business and not to lead the business. This approach is key to ensuring that the substance of the business determines its tax footprint.

The Group seeks to take advantage of such tax reliefs and allowances as are made available to it by governments or fiscal authorities but seeks to apply these in a manner consensually agreed with the relevant tax authorities. We seek to act within the letter and spirit of the legislation. Where appropriate the Group seeks Advance Pricing Agreements with the relevant tax authorities to provide both transparency and certainty to our affairs. The Group adopts a prudent approach to tax planning and does not engage in aggressive or artificial tax planning schemes.

Level of risk that the business is prepared to accept
Our intention is to have little more than a minimal level of tax associated risk present within the Group. Whilst some risk will inevitably arise, the Group will seek to find certainty in respect of this within a short but appropriate timescale.

Risk management and governance
As part of our tax governance processes, we rely upon our in-house tax team, a network of external experts and our relationships within the industry to allow us to ensure our approach remains in line with best practice. Reviews of our processes, procedures and outputs are performed by internal and external auditors and all material tax positions require sign off by senior managers or directors.

The tax affairs of the Group are managed on a day to day basis through a team of tax professionals, led by the Group Tax Manager. Staff are suitably qualified for their roles and are supported with regular training to ensure they continue to be able to provide up to date technical advice as required.

Approach towards dealing with HMRC
The Group engages with HMRC in an open and constructive manner with regular dialogue between the Group Tax Manager and our HMRC Customer Compliance Manager allowing for any areas of disagreement or points of interpretation to be resolved on a timely basis. Where available the Group will seek clearance and confirmation from HMRC to provide certainty of tax treatment on any significant transactions. The Group will continue to strengthen and deepen our relationships with HMRC (and her overseas equivalents) to allow for clarity and predictability in our tax affairs.

The Group is fully committed to the implementation of the BEPS recommendations and keeping abreast of international tax developments. The Group takes seriously it’s responsibilities under the UK’s corporate criminal offense of the failure to prevent the facilitation of tax evasion legislation and has appointed a senior accounting officer to ensure The Group maintains appropriate tax accounting arrangements.

This policy is reviewed annually and applies to all companies within the UK Group1. The Group regards this publication as complying with the duty under para 19(2) Sch19 FA2016. This strategy is applied throughout the wider Kyowa Kirin International Group and is adopted in the UK by the board of KKI plc on an annual basis, corresponding to the relevant accounting period.

It was last approved by the Board of KKI plc on 10 December 2019 and published on 2 January 2020, and reflects the strategy applied during the year ended 31 December 2019. It is foreseen that this strategy will also be applied for the year ended 31 December 2020 and will be published as such during that year.

1This policy applies to the following companies, Kyowa Kirin International Plc, Kyowa Kirin Pharmaceutical Development Limited, Kyowa Kirin Services Ltd, Kyowa Kirin Limited, Archimedes Pharma Limited, Archimedes Pharma UK Limited and Strakan International S.A. This strategy is consistent with the Global Tax Corporate Governance Policy implemented and applicable to the wider Group.