DHL Information Services

DHL Global Forwarding (Singapore) Pte. Ltd. (the “Company”)

UEN No. 197000723M

Tax Governance Policy Statement

Introduction

The Tax Governance Policy Statement sets out the Company’s approach for managing tax affairs. This Policy is in line with DHL’s overall strategy and corporate governance principles and demonstrates the Company’s dedication towards tax compliance.

Compliance with tax laws and regulations

The Company is committed to complying with applicable tax laws and regulations in Singapore and ensures that tax returns and payments are filed in a timely manner and duly paid.

The tax team are guided by policies established at the global group level and examples of such policies include guidelines for transfer pricing and tax audit.

A proactive approach is taken to update the Company’s policies and procedures to ensure that it is aligned with prevailing tax laws and regulations. Any significant tax changes that will impact the Company’s business activities or processes will be communicated to the relevant stakeholders.

The Company’s business strategy is anchored on the approach that any tax implications should be incidental to its business needs and will neither enter nor execute agreements for the purposes of tax avoidance.

Governance Structure of managing tax risks

A formalised tax governance structure has been established within the Company.

The Board is apprised of key tax risks and delegates the responsibility of managing tax risks to the Head of Tax and Chief Financial Officer, who reviews the Company’s tax issues and assess underlying tax risks.

The tax team are equipped with the necessary tax technical skills and knowledge to make accurate and complete tax returns and attend periodic training to keep abreast of latest tax developments.

Where required, the Company will also engage the assistance of external qualified tax advisors to advise on taking certain positions in the tax returns, and assess the tax implications of significant business transactions or events.

The Company ensures that the Board is kept appraised on the reviews and changes to the tax governance documents on an annual basis.

The Company has put in place a comprehensive tax risk management process to identify, evaluate, manage, and mitigate tax risks. Identified key tax risks are escalated to the Board for discussion.

Relationship with tax authorities

The Company maintains an open and transparent communication approach with the tax authorities to minimise any tax uncertainty.

At all times, the Company works to ensure that it is responsible in its tax affairs and a strong emphasis is placed on providing accurate and full disclosure of information in its correspondence with tax authorities. This includes regular review of its tax filings and prompt disclosure of any errors or mistakes.

Where appropriate, the Company will seek tax rulings from the tax authorities on complex and controversial tax issues to uphold its tax positions.