Itron is committed to complying with the letter and spirit of the tax laws and practices in the UK, as well as all other jurisdictions where we operate. Compliance includes the timely filing of tax returns, involves disclosing all relevant facts and circumstances to tax authorities, and timely paying the full and fair amount of tax. Itron has a tax control framework that ensures full compliance.
As with any activity, tax risks will inevitably arise from time to time in relation to the interpretation of tax law complexity and the nature of various tax obligations. Itron seeks to identify, evaluate, manage and monitor these risks to ensure they remain in line with Itron's risk tolerance. Where there is significant uncertainty or complexity in relation to a risk, external advice may be sought.
In structuring our UK operations, we will consider, amongst other factors, the tax laws of the UK with a view to maximize value on a sustainable basis for our shareholders. Any tax planning undertaken will have commercial and economic substance and will have regard to the potential impact on our reputation and broader goals. We will not undertake planning that is contrived or artificial.
We engage with HMRC with honesty, integrity, respect and fairness and in a spirit of cooperative compliance. We are prepared to litigate where we disagree but will first seek to resolve any disputed matter through proactive and transparent discussion and negotiation.