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UK tax strategy disclosure

Bose Limited (“Bose” or “the Company”) is publishing this UK tax strategy in compliance with paragraph 22(2) of Schedule 19 of the UK Finance Act 2016 with respect to the financial year ending 31 March 2018.

Bose is committed to inventing new technologies that would truly benefit people, creating a culture where innovation and teamwork are valued. Bose conducts its business with integrity and with the highest standard of business ethics in dealings with our customers, suppliers and others, including a commitment to compliance with all rules and regulations.

Risk management and governance

The Board of Directors of Bose Corporation is ultimately responsible for the oversight of risk management and governance arrangements of the global business. Bose Corporation has a formal function, Independent Assurance Services, which provides assurance to the Audit Committee of the Board of Directors that Bose Corporation and its subsidiaries are identifying and mitigating enterprise level risks, including tax risks, following the applicable laws of the regions in which we operate, living up to our corporate values by conducting business ethically, and operating with appropriate key controls. Annual ethics training is conducted globally wherein every employee certifies that they are aware of and agree to abide by the Bose Code of Business Ethics. Furthermore, the Company provides a mechanism for employees to report unethical behaviour.

The Company has a strong focus on responsible tax administration. The day to day management of the UK tax affairs is performed by the UK Financial Controller who is also responsible for the fulfilment of the Senior Accounting Officer (“SAO”) obligations in relation to ensuring that our tax accounting arrangements are appropriate.

Tax planning

Our approach to tax planning is consistent with and supported by our business operations. The Company does not undertake aggressive tax planning. We maintain to comply with all relevant UK tax laws including making use of statutorily available reliefs and/or incentives, such as capital allowances and research and development credits.

Tax risk

The Company views our compliance with tax legislation as the key to managing our tax risk and has a low tolerance to tax risk. Bose is engaged with third party advisors who provide expert advice with respect to operations in the UK to ensure that tax risk is managed both from a compliance and reputational risk perspective.

Relationship with Her Majesty’s Revenue & Customs (HMRC)

Bose maintains an open, constructive and transparent relationship with HMRC. We work collaboratively with the Customer Compliance Manager at HMRC, helping them understand our business, operations and any business changes.