UK Tax Strategy Statement

This document regarding our approach to tax in the UK is published by Soracom Corporation, Ltd. in accordance with Schedule 19 of the UK Finance Act 2016 in respect of our fiscal year ending 31 March 2024. This document will be reviewed annually and updated as necessary.

Introduction

This document sets out our UK Tax Strategy by addressing the following:

1. Our approach to governance, risk management and compliance with UK tax laws
2. Our approach to conducting its tax affairs, including its attitude to tax planning
3. The level of risk in relation to UK tax that we are prepared to accept
4. Our approach towards dealings with the HMRC

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1. Our approach to governance, risk management and compliance with UK tax laws

Our approach is to comply with all statutory obligations and make full disclosure to HMRC. The Board of Directors, supported by an experienced finance team, oversee the business, and their responsibilities include governance, risk management, and have oversight with tax. We ensure that all tax administration is carried out appropriately, including the filing of tax returns and arranging of tax payments on time, and responding to HMRC queries promptly.

Our internal control system is regulated through internal policies and maintained by senior members of management who are also responsible for managing various risks, such as those associated with tax.

We consult external advisors when appropriate as part of our overall risk management and governance duties.

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2. Our approach to conducting its tax affairs, including its attitude to tax planning

When it comes to tax planning with regards to UK taxation, we plan our tax strategy by referring to current relevant tax laws. We utilise relevant tax reliefs available as allowed by legislation, with a view to maximising the shareholder value of our business. We refrain from utilising tax planning measures that are artificial in nature or fail to reflect commercial reality.

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3. The level of risk in relation to UK tax that we are prepared to accept

Our tolerance towards tax risks is low, and we ensure that such risks are mitigated in a timely and cost-effective manner. We do not promote aggressive tax planning arrangements to our customers or any other parties that we believe to be contrary to the intentions of Parliament. Tax matters are effectively managed by internal reviews, and external professional tax advisers are utilised where appropriate as explained above.

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4. Our approach towards dealings with the HMRC

Through submitting tax information in a timely, appropriate manner, Soracom Corporation, Ltd. increases its transparency to build a relationship of trust with HMRC. We respond to any queries from HMRC promptly, and in an open, transparent, and constructive manner to seek timely resolution. We proactively engage with HMRC, when necessary, when any past, current, or future tax risks arise, and to seek advice on the interpretation of tax legislation and reduce tax risk.

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This document was approved by the Board of Directors on 31 March 2024.