Colliers International Group Inc. (a publicly traded corporation headquartered in Toronto, Canada and listed on NASDAQ and TSX under the symbol “CIGI”) is an industry leading global real estate services company with 15,000 skilled professionals operating in 68 countries globally. With an enterprising culture and significant employee ownership, our professionals provide a full range of services to real estate occupiers, owners and investors worldwide.
Expertise, Collaboration and Entrepreneurship form the core of who we are. These values guide how we live and work, ensuring that by investing in relationships and doing what’s right for our clients, people and communities we accelerate success.
When property services are guided by shared values, our teams perform at a higher level, creating lasting personal connections among our colleagues, clients, and the communities we serve.
This document, approved by the Board of Directors (the “Board”) of Colliers International EMEA Holdings Limited in November 2017, sets out the Colliers International UK group’s (“Colliers UK”) Tax Strategy and embodies these corporate values. The document will remain in effect until any amendments are approved by the Board. In publishing this document, Colliers regards itself as complying with its duty under paragraphs 16(2) and 19(2) of Schedule 19 of the Finance Act 2016.
1. Approach to risk management and governance arrangements in relation to UK taxation
Colliers UK aligns and complies with CIGI’s strong internal risk management mechanisms and governance control policy framework.
These corporate governance practices are designed to strengthen the Board’s management oversight and to serve the long-term interests of our shareholders, employees and other stakeholders.
In relation to taxation, our tax team employs compliance and risk monitoring process to keep our tax obligations under review regularly. External tax advice is obtained in complex or specialist areas.
2. Attitude of the group towards tax planning (so far as affecting UK taxation)
Colliers UK is in compliance with CIGI’s Corporate Responsibility policy and is committed to achieving and maintaining high standards of corporate responsibility in its business activities. We are deeply committed to the communities in which we operate and our attitude to tax planning corresponds with this.
At the same time to best serve our shareholders we actively monitor and apply available tax incentives and reliefs to minimize tax costs of conducting our business operations, in a manner consistent with the intent of the legislation. In doing so we always ensure that:
- Our conduct does not damage our brand and reputation in the jurisdictions in which we carry out business operations;
- We assess any tax risks that may be applicable, obtaining external tax advice where appropriate, to provide sufficient levels of comfort that adoption is responsible and in line with both the nature of our business operations and commercial strategy.
3. The level of risk in relation to UK taxation that Colliers UK is prepared to accept
The core values at Colliers UK embody full compliance with our Code of Ethics & Conduct: and Financial Management Code of Ethics & Conduct, including providing full, fair, accurate, timely and understandable financial information to government agencies and complying with all applicable laws, rules and regulations. Where applicable laws and regulations are unclear or subject to interpretation we adopt an appropriately documented tax position whereby it is at least more likely than not to be allowable under those tax laws and applicable regulations.
4. Approach towards dealings with HMRC
Colliers UK is committed to maintaining a good working relationship with tax authorities. We seek to operate within an environment with minimal tax risk and uncertainty. This is achieved by adherence to:
- Complying fully with all applicable laws and regulations.
- Working constructively and proactively with tax authorities whilst demonstrating respect, integrity and dignity.
- Conducting ourselves professionally in an open and transparent manner to achieve timely resolution of any disputed issues.