Our business purpose
The RCMA Group’s mission is to participate in trade flows in which we:-
- add value to producers, consumers, and stakeholders;
- use detailed analysis of all global market input;
- employ rigorous risk management and control; and
- ensure a reliable and secure supply chain.
We combine global reach with a local touch.
We are committed to building a sustainable, responsible, and ethical business. Our approach to tax is guided by this philosophy. We aim to comply fully with our global obligations and engage openly with tax authorities and other stakeholders whilst also managing our tax expense responsibly, ensuring sustainable business growth.
Our tax strategy
We aim to comply fully with our obligations and engage openly with tax authorities, and we will achieve this by pursuing the following four objectives.
This tax strategy applies to RCMA Group’s UK business, encompassing employment taxes and indirect and corporate taxes, and is reviewed annually.
1 – We continuously monitor and enhance our tax processes, systems, and controls
- We implement effective processes, systems, and controls to ensure compliance with applicable laws.
- We operate a control framework within which our staff manage tax risk, supported where necessary by advisors.
- We monitor and enhance our processes through governance meetings to identify, assess, manage, and monitor tax risks arising from business transactions and operations.
2 – We only undertake transactions that support genuine commercial activities
- We operate within the letter and spirit of the law.
- We do not use artificial or contrived tax structures.
- We do not use tax haven territories.
- We would seek external professional advice when necessary where tax law is unclear or subject to interpretation.
3 – We deliver results to our clients in a sustainable manner
- Consistent with the above, we intend to maintain a low level of tax risk in the UK.
- We consider the tax consequences of a commercial transaction before entering into it, taking advice where necessary from external advisors and where appropriate, and seeking confirmation whether formally or informally from a relevant tax authority.
4 – Partnership is the foundation of our approach
- The partnership perspective guides our relationship with stakeholders including tax authorities. We take a long-term view in our relationships, as demonstrated by our commitment to building a sustainable, responsible, and ethical business.
- We therefore conduct ourselves in a constructive, open, and transparent manner with Her Majesty’s Revenue and Customs in order to build and sustain a good working relationship. By engaging in timely dialogue with tax authorities, we aim to prevent any unnecessary disputes.
This statement is made by:
RCMA Commodities UK Ltd
RCMA Support Services UK Pte Ltd
Yelo Enterprises Ltd