Announcement – YunExpress UK Limited Tax Strategy Statement December 2023

Introduction

YunExpress strives for full compliance with all statutory obligations and we are committed to a constructive and collaborative relationship with tax authorities. A full disclosure to relevant tax authorities, compliance with tax filing and payment obligations are our key responsibilities. The group’s tax affairs are managed in a way which takes into account the group’s wider corporate reputation. We ensure careful consideration is applied in relation to all processes and tax positions taken which could materially affect its compliance with tax legislation.

Scope

The tax strategy has been prepared for YunExpress UK Limited (“YunExpress”) and it is being published for the year ending 31 December 2023 and will be reviewed and updated annually.

It applies to all UK taxes applicable to our businesses in UK namely corporate income taxes, indirect taxes (VAT, stamp duty land tax, excise and customs duties), employment taxes (PAYE / national insurance contributions) and any other applicable tax matters and duties.

YunExpress regards this tax strategy as complying with the UK Tax Strategy publication requirement set out in Part 2 of Schedule 19 of Finance Act 2016.

Our tax strategy sets out key policies regarding risk management and governance, attitude towards tax planning, the level of risk which is acceptable for UK taxation and the relationship with HM Revenue & Customs (“HMRC”).

Risk management and governance

It is our policy to comply with all applicable UK tax legislation, regulations and reporting requirements. The local day-to-day management of tax affairs is led by Group Head of Tax and implemented through YunExpress UK Ltd, with input and advice from the Group Tax Management Department and external professional advisers.

We ensure the tax risk management procedures and established internal governance framework are regularly reviewed such that processes remain constantly up-to-date and any required changes or adaptations are implemented on a timely basis. The Group Head of Tax and the UK General Manager are responsible for management of the tax affairs of the company.

Attitude towards tax planning and level of risk

YunExpress does not engage in artificial or aggressive UK tax planning and would not consider doing so under any circumstances, we adopt a low-risk approach when considering our UK tax affairs. We will always place primary importance on fully complying with regulatory and non-regulatory obligations.

Implementation of available tax reliefs, tax incentives and exemptions application is consistent with UK and international tax laws and in the manner which is intended by HMRC and statute. Advice is sought from external advisers where uncertainty exists.

Relationship with HMRC

YunExpress maintains an open, transparent and collaborative relationship with HMRC through all interactions, meetings or any other communications and is committed to prompt disclosure and transparency in all tax matters with HMRC.

YunExpress has been compliant in submitting tax computations and returns. Any inadvertent errors in submission of tax returns and tax computations to HMRC are fully disclosed as soon as reasonably practicable after they have been identified.