BBIX Europe B.V. a limited company registered in the Netherlands, is 100% owned by BBIX, Inc., which is in turn wholly owned by SoftBank Corp. SoftBank Corp. and BBIX, Inc. are incorporated and tax resident in Japan, headquartered in Tokyo (“the Group”).

BBIX Europe B.V. is a subsidiary of BBIX, Inc., part of SoftBank Corp.’s IX (Internet Exchange) unit, and engages in the provision of Internet Exchange, Roaming Peering Exchange to mobile operators and internet service providers.

This strategy applies to BBIX Europe B.V.’s permanent establishment in the UK and it is regarded that this publication complies with the duty under paragraphs 16 and 19 of Schedule 19 to the Finance Act 2016. In this report, references to “the Company” are to BBIX Europe B.V.’s UK permanent establishment.

The Company’s tax strategy and policy comprises four key components:

Compliance and governance

The Group is committed to compliance with tax law and practice in the UK. It complies with all statutory obligations and discloses all relevant facts and circumstances to the tax authorities.

The responsibility for the Company’s UK tax strategy and compliance rests with the Board of the Company. The Board’s responsibility to monitor the integrity of the Company’s financial reporting system, internal controls and risk management framework, expressly includes those elements relating to taxation.

Day-to-day management of the Company’s UK tax affairs is delegated to the executive officers of the Company who are supported by internal and external advisors appropriately qualified. The Chair of the Company quarterly reports the accounting policy and results to the President of BBIX, Inc.

Managing tax risks

The Company actively seeks to identify, evaluate, monitor and manage risks in relation to the interpretation of complex tax law and compliance arrangements to ensure it remains in line with our objectives.

As a component of the overall internal control framework applicable to the Company’s financial reporting system, the Company operates a system of tax risk assessment and control. It seeks to reduce the level of tax risk arising from the Company’s operations as far as is reasonably practicable by ensuring that reasonable care is applied in relation to all processes which could materially affect its compliance with its tax obligations.

Key risks are monitored for business and legislative changes which may impact and changes to processes or controls are made when required. Where there is significant uncertainty or complexity in relation to a risk, external advice is sought from external accountants.

In relation to any specific issue or transaction, the Company’s Board is responsible for identifying the risks, including tax risks, which need to be addressed and for determining what actions should be taken to manage those risks, having regard to the materiality of the amounts and obligations in question.

The company seeks advice from its accountants in its countries of operations to manage its tax risks and outsources its payroll compliance.

Attitude towards tax planning and level of risk

When entering into commercial transactions, the Company seeks to take advantage of available tax incentives, reliefs and exemptions in line with, and in the spirit of, tax legislation. Amongst other factors, the tax laws of the countries in which the Company operates are considered, with a view to maximising value on a sustainable basis for the shareholders and employees.

Any structuring that is and will be undertaken has commercial and economic substance with full regard to the potential impact on the group’s reputation and broader goals. The Company will not put in place any arrangements that are contrived or artificial.

The level of risk which the Board accepts in relation to UK taxation is consistent with its overall objective of achieving certainty in the group’s tax affairs. At all times the Company seeks to comply fully with its regulatory and other obligations and to act in a way which upholds its reputation as a responsible corporate citizen.

Working with HM Revenue & Customs

The Company engages with HM Revenue & Customs (“HMRC”) with honesty, integrity, respect and fairness and in a spirit of co-operative compliance. It seeks to have a transparent and constructive relationship with HMRC through regular communication in respect of developments in the Company’s business, current, future and retrospective tax risks, and interpretation of the law in relation to all relevant taxes.

HMRC is and will be informed of significant transactions and changes in the business, seeking to discuss any tax issues arising at an early stage. All relevant facts are disclosed and any transactions or issues with potential for the tax treatment to be uncertain are identified, when submitting tax computations and returns to HMRC. Any inadvertent errors in submissions made to HMRC are and will be fully disclosed as soon as reasonably practicable after they are identified.