GRUMA Group Tax Strategy
Introduction
This tax strategy for the Gruma Group is published in accordance with schedule 19 Finance Act 2016. It sets out the strategy towards UK taxation adopted by the Gruma Group.
GRUMA is a Mexican group that operates in 19 different countries, such as, US, Mexico, Costa Rica, Honduras, Guatemala, El Salvador, Nicaragua, Ecuador, Spain, United Kingdom, Netherlands, Italy, Ukraine, Turkey, Russia, China, Malaysia, Singapore, and Australia where it keeps 74 plants dedicated to production and commercialization of corn flour, under MASECA brand, as well as flatbreads, tortillas, chips and other products corn derivatives, under Mission Brand.
Specifically, Gruma operates in the UK supplying a range of flatbreads, tortilla chips and Mexican meal kits under the Mission Foods brand.
Paying its fair share
All Gruma businesses and companies that operate within the UK are registered for taxation in this country and pay their taxes determined with strict adherence to the laws in force.
How Gruma manages its tax risks
The European Finance Director has overall responsibility for tax matters within the EMEA region, including our operations in the UK. He is well supported by the finance team of each subsidiary who takes responsibility of taxation issues. Additionally, Gruma’s Corporate has a tax department which ensure the compliance of all tax obligations and offers its support with respect to tax decisions and implications.
In the UK, computation of the taxes is outsourced with a qualified tax advisor and reviewed internally prior to its submission.
As it was mentioned before, taxes must be in strict adherence to laws in force in each country.
Gruma Groups’ attitude to tax planning and tax risk.
In the countries described previously, each subsidiary resides for fiscal purposes and pay their taxes according with the conditions stipulated in local legislations.
GRUMA group do not perform operations which main objective is to reduce or erode the taxable profit of its legal entities. GRUMA neither transfer profits from its subsidiaries to jurisdictions with territorial tax regimes or with a low tax rate.
Risks accepted for UK taxation.
The international tax policy of GRUMA group is to comply with the tax obligations correctly and honestly, within legal framework, avoiding aggressive or uncertain tax positions. This view must be followed by all subsidiaries around the world, included the entities which reside in the UK.
Working with HMRC.
UK entities must declare honestly its taxes and must be open to attend any requirement, question or process started by the HMRC. Communication with local tax authorities must be always appropriate and respectful.