This paper sets out the tax strategy of Moldons Pharmaceuticals UK and its subsidiaries, and in making this strategy available. This tax strategy applies to the year ending 31 December 2020 and continues until superseded. It covers The Company’s approach to arranging its tax affairs.

About Moldons Pharmaceuticals UK

Moldons Pharmaceuticals UK was established in United Kingdom and has since grown to become a leading Contract Development and Manufacturing Organisation (CDMO). Headquartered in UK, we employ around 3,000 people. Our company unites over 30 facilities across different countries, offering a range of services across four business segments.

Tax planning

The Company seeks to maximise shareholder return which includes efficiently managing The Company’s total tax liability while ensuring that all tax decisions taken by The Company consider relevant laws, regulations and the commercial substance of transactions. All tax planning must have a sound and genuine commercial rationale, and all business planning must take tax considerations into account.

Risk Management and Governance

The Company has a low tax risk appetite and is focused on compliance. It aims to maintain a low tax risk rating. It is committed to (a) comply with all tax legislation requirements, (b) file its returns in a timely and accurate manner and (c) pay the appropriate amount of tax at the right time.

The Company’s tax strategy reflects its status as a leading CDMO which requires strong governance and consideration of its reputation, while delivering returns to its shareholders. As part of its controls, The Company seeks to identify, evaluate, monitor and manage tax risks to ensure it complies in full with its legal obligations and its strategy of being a responsible business. Where there is significant uncertainty or complexity in relation to a risk, The Company takes appropriate professional advice and/or discusses the matter with the relevant tax authority.

This tax strategy document applies to The Company and the document has been approved by the Board of Directors of Moldons Pharmaceuticals UK. The Board has ultimate responsibility for tax matters and fulfilling compliance requirements within The Company. The Finance teams of The Company are accountable for the implementation of the tax strategy and the management of tax and related risks.

Dealings with Tax Authorities

The Company engages with tax authorities openly and honestly and in a spirit of co-operative compliance. We regularly communicate with tax authorities to discuss business updates and any relevant tax issues that arise.