Larsen & Toubro : UK Tax Strategy FY 2020-21

Larsen & Toubro Limited

L&T House, N.M. Marg,

Ballard Estate,

Mumbai- 400001

UK TAX STRATEGY [2020-21]

Introduction

In accordance with the requirement of Para 22 of Schedule 19 of the Finance Act 2016, we are publishing this document as the tax strategy with respect to Larsen and Toubro Limited's ('L&T') UK subsidiaries and branches for the period ended 31st March 2021 [fiscal year of parent]. This document is publicly available on the website of the company [www.larsentoubro.com]

All of L&T's subsidiaries and branches in UK are hereafter referred to as 'Group'.

Our tax policy comprises the following components:

• Management of UK Tax Risks
  The day-to-day management of UK Tax matters are supervised by the respective Finance and Accounts Head of the branch/subsidiary. The Group sees compliance with tax legislation as key to managing tax risks. External advice from tax experts is sought, if thought necessary, in cases involving interpretation of statute or procedural requirement. Due consideration to tax impact is given while entering into any transaction.
• Attitude towards Tax Planning
  The Group aims to operate in an efficient and legally compliant manner and seeks to minimize the risk of uncertainty and disputes. We do not engage in aggressive and contrived tax planning or tax structuring for the sole purpose of gaining tax advantage. We seek to conduct transactions between the entities of the L&T Group companies on an
  Arm's length price in accordance with the OECD Transfer Pricing Principles.
• Risk Review
  The Group sees compliance with tax legislation as key to managing the tax risks. We operate an effective tax control framework to identify tax risks and to manage those risks through appropriate policies and processes.
• Approach to dealings with HMRC
  The Group believes in a transparent and collaborative relationship with HMRC. Due care is taken to ensure that all details filed with HMRC are accurate and complete. When the Group is uncertain regarding the interpretation of law, in appropriate cases, it may choose to discuss with HMRC to determine possible differences in interpretation. We may opt to litigate where we disagree with a ruling of the tax authority through transparent discussions and negotiation.

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Larsen & Toubro Limited

L&T House, N.M. Marg,

Ballard Estate,

Mumbai- 400001

UK TAX STRATEGY [2020-21]

The list of L&T UK subsidiaries/branches as on 31st March 2021 are as under:

Sr.

Name of Subsidiary/Branch

Tax

Address

Nature of Business

No

Identification

Number

1.

Thalest Limited

1775006699

1

Endeavour

House

Supply of

control

[Subsidiary

of

Larsen

&

Bentalls

Industrial Estate,

and

Toubro

International

FZE.

Holloway

Road,

Maldon

instrumentation

Stake acquired on 3rd April,

Esssex- CMP 4ER

systems

for the

2012]

marine, power and

generation

industries

2.

Syncordis Limited

7623923555

3

Sheldon

Square,

Provides

[Subsidiary of Syncordis SA.

Paddington,

London

W2

Information

Stake

of

Syncordis

SA

6PY

technology

acquired on 15th December,

consultancy

2017]

activities

3.

Larsen

&

Toubro

Infotech

8593715293

10th Floor(North), 6 Bevis

Provides

Limited - UK Branch

Marks, London- EC3A 7BA

technology

[Branch formed on 5th

consulting

and

January, 1997.

Larsen

&

digital solutions

Toubro Infotech Limited is a

subsidiary of L&T]

4.

L&T Technology

Services

3289118513

Unit 2 B, Ground floor, 2

Engineering

Limited - UK Branch

Kingdom

street,

service provider

[(Branch formed on 2nd

Paddington

Central,

August,

2013.

L&T

London- W2 6BD

Technology Services Limited

is a subsidiary of L&T]

5.

Ruletronics Limited

5282429360

Grenwhich

London,

6,

Provides

[Subsidiary

of

Larsen

&

Mitre

Passage,

technology

Toubro

Infotech

GmbH.

Greenwhich

Peninsula,

consulting

and

Stake

acquired

on

15th

London- SE10 0ER

digital solutions

March, 2019]

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Larsen & Toubro Limited

L&T House, N.M. Marg,

Ballard Estate,

Mumbai- 400001

UK TAX STRATEGY [2020-21]

6.	Mindtree	Limited-	UK	9156507349	5th Floor, No.12, Arthur	Information
	Branch				Street, London- EC4R9AB	Technology
	[Mindtree	Limited	has			consulting	&
	become subsidiary of	L&T			implementation
	Limited on 2nd July 2019]			company
7.	Larsen & Toubro Infotech	12073 21466	10th Floor (North), 6 Bevis	Provides
	UK Limited				Marks, London, UK, EC3A	technology
	[Subsidiary of L&T Infotech		7BA	consulting	and
	Limited incorporated on				digital solutions
	17th August, 2020]

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