28 November 2023 · Corporate Update

Annual regulatory compliance review — ATAD and cross-border reporting

The Board of Directors of Kashmir Limited has conducted its annual regulatory compliance review, covering the group’s obligations across all operating jurisdictions. The review, supported by the group’s professional advisors, confirms full compliance with the EU Anti-Tax Avoidance Directive (ATAD) and all applicable cross-border reporting requirements.

Professional advisors have confirmed that the group’s corporate structure meets all regulatory requirements across Cyprus, Poland, Portugal, and other relevant jurisdictions. Transfer pricing documentation has been updated to reflect current intercompany arrangements, ensuring alignment with OECD guidelines and EU directives governing related-party transactions.

The review also assessed the group’s readiness for upcoming regulatory changes, including enhanced reporting requirements under DAC7 and other evolving EU transparency frameworks. The Board is satisfied that the group’s compliance infrastructure is robust and capable of adapting to the changing regulatory landscape.

The Board has approved enhanced compliance monitoring procedures for 2024, including more frequent reviews of cross-border transactions and additional oversight of transfer pricing arrangements. Kashmir remains committed to maintaining the highest standards of regulatory compliance across all jurisdictions in which it operates.