Synopsys maintains written policies applicable to all tax risks on a global basis. A goal inherent in Synopsys’ policies and practices is achieving tax certainty through effective identification, evaluation, and management of tax risk. In addition, as an SEC registrant, Synopsys complies with standards for financial and internal controls that are among the highest in the world.
The Vice President of Corporate Tax is responsible for management of all tax risks, including an annual review of Synopsys’ overall tax strategy with Synopsys’ CFO and Audit Committee. A supporting team of qualified and experienced in-house tax and finance professionals manage Synopsys’ routine tax matters. This includes tax reporting compliance, tax authority relations, and financial reporting obligations, as well as supporting Synopsys’ business functions to analyse potential transactions and identify, manage, and comply with relevant tax requirements.
Synopsys obtains legal advice to ensure adherence to tax requirements and affirmatively engages with tax authorities, particularly where tax outcomes are significant or uncertain. Material matters are escalated to various levels of management and the Audit Committee, as directed by policies.
These policies and principles apply equally to the UK.
In general, Synopsys considers that it maintains a low threshold level of acceptable tax risk.