What is the function of the tax department here? Have you been given a brief by the board?
We’re still developing the tax strategy for Reed Elsevier and we’re thinking that through very carefully. I can’t as of today set out the Reed Elsevier tax strategy, but I can share some personal views. I certainly support the idea that there should be a tax strategy that should be supported at board level. It should set out the company’s view on what sort of tax position it thinks it should take and other key strategic issues. I think it’s fair to say that this company would always want to find the appropriate balance between being a completely honest and responsible corporate taxpayer and having an extremely honest and proper relationship with the fiscal authorities, and on the other hand, taking the sort of steps all large, responsible corporates would take to manage the tax liability to maximize the return for shareholders. I think that would lie at the heart of the tax strategy. I think we would take compliance very very seriously and would want to be complying fully, openly, hone
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- What is the function of the tax department here? Have you been given a brief by the board?
