The following document lays out Celgene’s strategy and approach for the UK and applies to all Celgene entities organized in the UK.
The publication of this strategy statement is regarded as satisfying the statutory obligation under Para 19(2) and 22(2), Schedule 19, Finance Act 2016. Celgene Corporation, a Bristol-Myers Squibb company, together with its subsidiaries (“Celgene”), is an integrated global biopharmaceutical company.
In the UK, Celgene’s primary activities are related to sales and distribution of Celgene’s products into the UK market as well as supporting regulatory activities in the European region. We report income and pay taxes consistent with these activities.
Approach to UK tax risk management and governance arrangements
As a business, Celgene is committed to complying with tax law and practice in the UK. We employ appropriately qualified tax professionals and accounting staff to manage our tax position and take the advice of external experts as necessary.
Changes to tax laws and regulations are anticipated and communicated to stakeholders and process owners within the business to ensure compliance with any changes. We maintain tax policies in relation to key tax processes as well as performing annual internal controls to ensure compliance with policies by relevant staff. Performance against these controls forms part of the quarterly reporting to the Global Audit Committee.
Attitude towards tax planning
Celgene complies with all tax rules and regulations on a worldwide basis and engages in tax planning that is aligned with its commercial business activities. In relation to the UK, Celgene’s strategy towards tax planning, including transfer pricing, is based on the arm’s length standard (as described by OECD guidelines) and aligns with Celgene’s commercial business activities in the UK. Any tax planning undertaken in the UK is done so with specific regard to the potential impact on Celgene’s reputation, goals and principles.
Level of tax risk accepted
Celgene strives to be compliant with all UK tax laws and regulations. Celgene’s tax positions in the UK reflect the business activities undertaken in the UK. We employ appropriately qualified tax professionals and accounting staff to manage our tax position and take the advice of external experts.
Approach to dealing with HMRC
Celgene is committed to acting with integrity and transparency with all tax authorities, including HMRC. Celgene seeks to have a professional and constructive relationship with HMRC. Where relevant we communicate areas of material risk we identify with tax authorities in a timely manner to engage them in discussions on tax positions taken and depending on the particular situation we may also seek external support from qualified expert advisers to assist such discussion.
We file timely and accurate tax returns, and we respond openly and promptly to any questions that may be raised by HMRC in relation to the tax returns.
Date of preparation: December 2021