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Tax Strategy

Tax Strategy for the Year Ending 31 December 2025

Introduction

This Tax Strategy has been published by Hisense UK Limited for the financial year ending 31st Dec 2025. It complies with UK legislative requirements of Schedule 19 of the Finance Act 2016. This Tax Strategy sets out the approach of Hisense UK Limited and, where relevant, its alignment with the wider tax principles of Hisense Group.

The Strategy is approved by the Board of Directors and is reviewed on an annual basis.

About the Business

The Hisense Group (“the Group”) is a world leader of flat panel TVs, household appliances and mobile communication devices.

Hisense UK Limited (“Hisense UK”) is a company incorporated in the United Kingdom in 2012. The Group has a straightforward structure in the UK, with Hisense UK being the only entity in the UK. The principal business activities of the Company comprise the importation, sale, and distribution of electronic goods primarily in the UK markets.

Tax Strategy and Scope

The Group recognize its responsibility to deliver value to shareholders, as well as paying taxes arising from its business activities which contribute to the societies where it operates. Hisense UK’s Tax Strategy requires that all tax obligations are complied with in the UK. In addition, the Company aims to align the tax payment outcomes with the commercial reality and where profits are generated.

Our Tax Strategy is built on the principles of transparency, fairness, and compliance. We seek to optimize our tax position within the framework of applicable tax laws while maintaining a responsible and sustainable approach to taxation. This Tax Strategy applies to Corporation Tax, Customs Duties, Employment Tax, Indirect Taxes, and any other tax liabilities for which Hisense UK has legal obligations. We ensure compliance with all relevant regulations and adhere to the guiding principles set forth by tax authorities in managing our tax affairs.

Approach to Tax Risk Management and Governance

Hisense UK is responsible for ensuring tax compliance within the UK. In terms of the internal approval procedure, the Company holds authority over local tax matters, reporting to the Group as required. The Company maintains a low tolerance for tax risk and places a strong emphasis on compliance in managing its UK tax affairs. Tax risks are identified, assessed, and managed through established governance and control processes to ensure compliance with applicable UK tax legislation.

The UK finance team oversees the day-to-day management and implementation of Hisense UK’s tax affairs. Compliance matters are handled both internally and with the support of external professional advisers to perform periodic tax reviews to ensure compliance and maintain accuracy. Additionally, The Company has also appointed a Senior Accounting Officer who conducts regular monitoring and reviews, proposing improvements where necessary.

Attitude to Tax Planning

The Company does not engage in any group-wide tax planning schemes and prioritizes tax compliance over tax planning.

Hisense UK aims to:

  • Ensuring full compliance with all legal requirements by submitting accurate tax returns and making timely tax payments;
  • Considering the Group’s reputation, brand integrity, and corporate social responsibility in terms of tax;
  • Collaborating with HMRC and other relevant tax authorities to ensure full compliance with local tax regulations;
  • Staying informed about tax developments with the support of external advisors to adapt to any regulatory changes effectively.

Tax Risk Appetite and Key Risks

Hisense UK maintains a low tolerance for tax risk and is committed to full compliance with all applicable UK tax laws and regulations. The key tax risks for the Hisense Group and Hisense UK are:

Reputational risk

Hisense UK’s Tax Strategy seeks to balance the needs of key stakeholders, who expect a minimization of tax risk. To align with this expectation, the Hisense UK’s tax governance framework is designed to manage reputational impact and uphold its commitment to a low-risk approach.

Compliance and reporting risk

Non-compliance with the relevant tax rules in jurisdictions where the Hisense Group operates is a key risk and the Group has a strong focus on the local compliance in each jurisdiction. In the UK, the Company actively manages this risk by ensuring its internal staff are equipped with the essential knowledge and skills to carry out the relevant work and obtaining external assistance from professional firms.

Changes in tax legislation and other regulations

Hisense UK closely monitors legislative and regulatory developments, particularly those impacting tax treatment. We proactively assess the potential tax implications of new regulations by staying updated with official publications, engaging with external professional bodies, attending relevant industry seminars, and maintaining ongoing discussions with tax experts.

Relationship with HMRC

Hisense UK is committed to maintaining an open, transparent, and constructive relationship with HMRC. The Company does not have a dedicated CRM in the UK but manages its interactions through established statutory channels and regular correspondence. External professional advisers are engaged to assist with compliance and ensure accuracy in tax matters.

The Company acknowledges that differences in legal interpretation may arise and seeks to address such matters appropriately in accordance with relevant tax legislation. Any matters requiring clarification or resolution are dealt with in a timely and cooperative manner, while fully respecting HMRC’s role as the UK tax authority.