All information or advice provided as part of this website is intended to be used only for general information purposes and you should not rely on it in connection with any specific purpose or the making of any decision.
We try to ensure that all information provided as part of this website is correct at the time of inclusion on the website but do not guarantee the accuracy of such information. INEOS and its companies are not liable for any action you may take as a result of relying on such information nor for any loss or damage suffered by you as a result of your taking this action.
This website contains various materials including text, photographs and other images, which are protected by copyright and/or other intellectual property rights. All copyright (and any other intellectual property rights) in this website and these materials is either owned by us or an INEOS company or is used by us under licence.
This website also contains various trade marks. All “INEOS” trade marks included on this website are owned by us or an INEOS group company. All other trade marks included on this website are used by us under licence.
You are permitted to browse any part of this website and to reproduce pages of this website by printing-off or downloading to a hard disk such pages but in each case only for non-commercial and personal purposes. We do not grant you any additional right to use the materials contained in this website (or any copyright or other intellectual property rights within these materials).
Links to other websites
Our website may contain links to other external, third party, websites. These links are provided in order to help you find relevant web sites which may be of interest to you, and do not indicate that INEOS or the INEOS Group is associated with these websites or their owners. INEOS and the INEOS Group are not responsible for any external websites, including any information contained within such external websites, and are not liable for any loss or damage that you may incur as a consequence of using any third party website.
Links to the INEOS website
You may not link to this website without obtaining our written consent first. If you would like to link to this website, please contact us at email@example.com with details of:
- the URL(s) of the relevant web pages from which you would like to link to web pages on this site; and
- the URL(s) of the relevant web pages on this site which you would like to link to.
We will consider requests to link to this website, but reserve the right to refuse to agree to such requests.
Our website may be unavailable from time-to-time, including for routine maintenance, updates and upgrading. INEOS and the INEOS Group are not liable for any loss or damage that you may suffer as a result of our website being unavailable at any given time.
Questions and complaints
If you have any comments, questions or complaints about this website, please contact us at firstname.lastname@example.org.
Anti-bribery and corruption policy
INEOS's policy on bribery and corruption comprises the following core principles:
- NOT TO ENGAGE in bribery or unethical inducements or payments (including "facilitation" or "grease" payments)
- TO ABIDE BY laws and regulations relevant to countering bribery and corruption in our day-to-day business practices in all the countries in which we operate
- TO DEVELOP and/or maintain within each of our business divisions programmes and internal controls that are proportionate to the risk of bribery and corruption faced by the relevant business
- TO SUBJECT relevant procedures to ongoing risk assessment, monitoring and updating as appropriate in order to ensure they remain effective and valid in response to changing circumstances
- TO SUPPORT directors and employees to take decisions that are in line with this policy and to encourage them to seek clarification and guidance in cases of doubt
- TO INVESTIGATE any reports of suspected violations of law, policies and internal control procedures and subject any non-compliance to appropriate sanctions
Modern Slavery Transparency Statement
Modern slavery is a crime and a gross violation of fundamental human rights. INEOS has a zero-tolerance approach to modern slavery and we are fully committed to preventing slavery and human trafficking in our corporate activities. We are also committed to ensuring there is transparency in our own businesses and in our approach to tackling modern slavery throughout our supply chains, consistent with our disclosure obligations under the UK Modern Slavery Act 2015 and equivalent laws in other countries.
INEOS is a global manufacturer of petrochemicals, speciality chemicals and oil products. It comprises 30 businesses each with a major chemical company heritage. Its production network spans 171 sites in 24 countries throughout the world. INEOS is a young company. It has grown to become a leading chemical company with sales today of around $60 billion.
Our supply chains
The majority of the INEOS’s activity is carried out in the EU and the USA which we consider to be low risk in relation to Modern Slavery. Nevertheless INEOS recognises its responsibility and has alerted relevant staff to the risks of slavery, however small, in their businesses and across the wider supply chain. Those staff are expected and encouraged to report concerns to management, who will then act upon them.
The relationship with the majority of our suppliers has been established over a number of years. All new contractors or suppliers have to be pre-qualified through a series of audits and we have now included MSA compliance into that on-boarding process.
Our policies on slavery and human trafficking
We are committed to ensuring that there is no modern slavery or human trafficking in our supply chains or in any part of our business. Our Anti-slavery Policy reflects our commitment to acting ethically and with integrity in all our business relationships and to implementing and enforcing effective systems and controls to ensure slavery and human trafficking is not taking place anywhere in our supply chains.
Among the other policies that we consider give us strength in avoiding modern slavery or human trafficking under the Act in our businesses are:
Anti-Bribery & Corruption policy [Above]
Business Codes of Conduct
Risk assessment and due diligence processes for slavery and human trafficking
As part of our initiative to identify and mitigate risk, over the past year we have been putting in place systems to:
- include anti-slavery checks in the due diligence process for on-boarding new suppliers
- monitor potential risk areas in our supply chains
- conduct selective supplier audits
- include due diligence regarding anti-slavery in M&A activity
- protect whistle blowers
To maintain awareness and ensure a high level of understanding of the risks of modern slavery and human trafficking across our businesses we have trained relevant members of staff and our Anti-slavery Policy is available to all staff.
This statement is made pursuant to section 54(1) of the UK Modern Slavery Act 2015 and constitutes INEOS’s slavery and human trafficking statement for the financial year ending 2016.
Signed on behalf of the INEOS Group of companies
Andrew C Currie
INEOS Ltd’s UK Tax Strategy
INEOS regards publication of this tax strategy as fulfilling its obligations under Schedule 19 of the Finance Act 2016 to publish its UK Group Tax Strategy in the current financial year.
This tax strategy applies to all UK taxes applicable to the UK subsidiary undertakings (the ‘UK Group’) of INEOS Ltd, the UK tax resident relevant body heading up the INEOS Group companies.
Our approach to risk management and governance arrangements in relation to UK taxation
As a large multi-national organisation, with 25 different businesses and operations in 22 countries, the UK Group is exposed to a variety of tax risks:
- Tax compliance and reporting risks including risks associated with compliance failures such as submission of late or inaccurate returns, the failure to submit claims and elections on time or where systems and processes are not robust enough to support tax compliance and reporting requirements.
- Transactional risks being those risks associated with undertaking transactions without appropriate consideration of the potential tax consequences or where advice taken is not correctly implemented.
- Reputational risk looking beyond purely financial risk, to the wider impact tax risk may have on our relationships with tax and other authorities, our customers and the general public.
The UK Group looks to manage these risks in the same way as any other operational risks, with each business taking the lead role in identifying, managing and monitoring risks within their businesses, with support and oversight by Group Tax.
Responsibility for the tax strategy and governance ultimately sits with the Chief Financial Officer with day to day responsibility sitting with the Group Head of Tax, who reports to the CFO.
Attitude of the UK Group towards tax planning (so far as affecting UK taxation)
The UK Group recognises that it has a responsibility to pay the tax legally due in any territory.
The UK Group may utilise tax incentives or opportunities for tax efficiencies where these are aligned with the intended policy objectives of the governments introducing those incentives and, in particular, where they are aligned with business and operational objectives.
Group Tax may seek external advice in relation to tax planning or areas of complexity or uncertainty.
Level of risk in relation to UK taxation that the UK Group is prepared to accept
The UK Group does not engage in artificial transactions the sole purpose of which is to reduce UK tax.
The UK Group will always be transparent with regards to any filing position taken where there may be uncertainty as to the application and interpretation of tax law.
Approach of the UK Group towards its dealings with HMRC
The UK Group is committed to openness and transparency in its approach to dealing with the Tax Authorities and complies with all relevant legal disclosure and approval requirements.
The UK Group’s aim is to avoid unnecessary disputes with HMRC and seeks to achieve this through regular face to face meetings with HMRC and through seeking pre-completion clearances where appropriate.