This statement is made to satisfy the UK requirements of Schedule 19 to the Finance Act 2016 as is relevant to the UK resident company that is a subsidiary of Viking Holdings Ltd (“VHL”) for the year ending 31 December 2023.
Viking Holdings Ltd (NYSE: VIK) provides destination-focused journeys on rivers, oceans and lakes around the world. Today, we have grown into one of the world’s leading travel companies, with a fleet of nearly 100 small, state-of-the-art ships, which we view as floating hotels.
The only resident entity in the UK is Viking River Cruises UK Limited.
This tax strategy is undertaken in accordance with the group’s overall code of business conduct and ethics and applies to Viking River Cruises UK Limited.
Our approach to tax risk management and governance
Our approach to UK tax is overseen by VHL’s Executive Management team. The Vice Presidents of Tax within the Tax Department are responsible for implementing our approach to tax. The Vice Presidents of Tax and the Tax Department team members are responsible for ensuring that all policies and procedures that support our approach are in place and that the Tax Department has the appropriate skills and experience required.
The Vice Presidents of Tax discuss tax developments with VHL’s CFO as well as the UK Financial Controller if applicable to the UK entity. These developments are assessed and, as appropriate, reported to the Audit Committee of VHL’s Board of Directors. Tax developments include monitoring changes to tax law and assessing their impact, and evaluating material tax risk.
Our attitude towards tax planning
Our approach to tax matters in the UK is based on open discussion with HMRC and obtaining agreement with HMRC on key matters, and our tax position in the UK reflects our underlying commercial substance. We will engage external advisors when appropriate, to understand the tax law and its implications.
Intercompany transactions are conducted on arm’s length principles, in accordance with OECD guidelines.
The level of risk in relation to UK taxation that the group is prepared to accept
We operate a framework to ensure compliance with tax laws and regulations, and as part of that framework we seek to mitigate our UK tax risks by actively engaging with HMRC on key tax matters.
We ensure that we are compliant and understand our responsibilities with regards to UK taxes through advice from professional advisors as required.
We believe we take a low risk approach to UK tax matters.
Our approach to dealings with HMRC
We actively engage with HMRC on material UK tax matters and respond to information requests in a timely manner and provide access to all relevant information.
Other relevant information relating to taxation
Not applicable at this time.
