This document outlines Standard Motor Products, Inc. & Subsidiaries’ (The SMP Group) tax policy in conducting its business dealings and approach to tax risks. The SMP Group’s tax strategy is overseen by the Group’s Chief Tax Officer who has day-to-day responsibility with ultimate executive responsibility resting with the Chief Financial Officer. This tax policy is being published on The SMP Group’s website and is subject to periodic review and amendments. This document is approved by management, is effective for the tax year ending December 31, 2017, and satisfies The SMP Group’s filing responsibilities under the UK Schedule 19 of the Finance Act 2016.
SMP Group Tax Policy:
UK Tax Policy:
The SMP Group’s UK policy follows the guidelines published by Her Majesty’s Revenue & Customs (HMRC) draft Framework for Corporate Compliance between large businesses in the UK and the HMRC. Although The SMP Group is a large business as defined by the OECD, under Country-by-Country rules, The SMP Group’s activities in the UK are quite minimal.
The SMP Group’s Tax Policy in all jurisdictions is identical and commits to following these guidelines: