Garmin (Europe) Ltd. Tax Strategy 2017

Garmin (Europe) Ltd. conducts business in an honest, fair and trustworthy manner. Garmin (Europe) Ltd. is committed to complying not only with the letter of the law, but also the spirit of the law. This includes the tax laws in the United Kingdom, as well as other jurisdictions where Garmin conducts business.

GARMIN (EUROPE) LTD. APPROACH TO TAX RISK MANAGEMENT

Garmin (Europe) Ltd. has a tax risk management system in place to ensure its activities and business decisions comply with the relevant UK tax laws, including, but not limited to:

GARMIN (EUROPE) LTD. GOVERNANCE ARRANGEMENTS

The Board of Directors of Garmin (Europe) Ltd. is ultimately responsible for its tax strategy. Daily management of tax affairs is delegated to the Financial Controller of Garmin (Europe) Ltd. The Financial Controller manages a qualified staff of financial employees who perform various tax compliance tasks.

There are periodic reviews and testing of controls performed by internal auditors to ensure tax compliance processes are transparent and effective. Audit results are discussed with a Director from the Board of Directors, responsible for UK financial matters, and Financial Controller of Garmin (Europe) Ltd., and further actions are taken if necessary.

GARMIN (EUROPE) LTD. ATTITUDE TOWARDS TAX PLANNING AFFECTING UK TAXATION

Garmin (Europe) Ltd. does not pursue aggressive tax strategies or interpretations of UK tax law. We believe that tax matters should be considered in advance of making business decisions, but should not drive our business decisions.

Garmin (Europe) Ltd. seeks to be efficient in its tax affairs, and to pay the correct amount of taxes under UK tax law. Prior to taking advantage of potential deductions or incentives provided by UK tax law, Garmin (Europe) Ltd. ensures that no abusive interpretation of the letter and intent of the law has been applied.

GARMIN (EUROPE) LTD. ACCEPTABLE LEVEL OF RISK ON UK TAXATION

Garmin (Europe) Ltd. seeks to conduct its business activities in line with UK tax law and reduce the level of tax risk the business is exposed to. We do not pursue aggressive tax strategies or interpretations of UK tax law. Further, Garmin (Europe) Ltd. is committed to resolving any unintended tax risks that are identified, and communicating proactively with HMRC to determine an appropriate resolution, if necessary.

GARMIN (EUROPE) LTD. APPROACH TOWARDS ITS DEALINGS WITH HMRC

Garmin (Europe) Ltd. conducts its business dealings with uncompromising integrity and professionalism. We are committed to working in a transparent, collaborative and proactive way with HMRC. We believe in open and early dialogue to discuss tax developments that may impact Garmin (Europe) Ltd. We are committed to making accurate and timely disclosures in our tax returns, and respond to any HMRC queries in a timely manner.

This tax strategy has been published in accordance with Schedule 19 of the Finance Act 2016 and received approval on 11th December 2017.