For fiscal year ending 31 January 2026
This policy, published on 16 July 2025, applies to Abercrombie & Fitch Co. (“A&F”) and its subsidiaries (collectively, A&F and its subsidiaries are referred to as the “Company”), including its affiliated United Kingdom (“UK”) entity, AFH Stores UK Limited (“UK Stores”). UK Stores considers the publication of this policy as complying with its duties under paragraph 22(2) of Schedule 19 of the Finance Act. The A&F Chief Financial Officer (“CFO”) and the Corporate Controller have approved this policy statement. The AFH Stores UK Limited Board of Directors has also approved and adopted this policy statement.
The Company, through its subsidiaries, is a global, digitally-led, omnichannel retailer. The Company offers a broad assortment of apparel, personal care products and accessories for men, women and kids, which are sold primarily through its Company-owned stores and digital channels, as well as through various third-party arrangements. The Company manages its business on a geographic basis, consisting of three reportable segments: Americas; Europe, the Middle East and Africa; and Asia-Pacific.
The Company is committed to conducting its tax affairs in accordance with the following key components:
- Compliance with all relevant tax laws, rules, regulations, and reporting requirements
The Company is committed to adhering to both the letter and spirit of all applicable tax laws and regulations in the countries in which it operates. Given the scale of our business, risks may arise with respect to the application and interpretation of tax laws. Our tax team continuously monitors changes in tax laws and regulations in the jurisdictions in which the Company operates, and, where appropriate, seeks advice from qualified professional advisors. The Company believes in being equitable and paying our fair share of taxes in a timely manner. The Company has a zero-tolerance approach to tax evasion and the facilitation of evasion by anyone acting for or on behalf of the business. - The Company’s group strategy and tax planning
The Company’s tax policy is driven by, and at all times consistent with, our overall business strategy and our Code of Business Conduct and Ethics (this can be found on our website at (link). The Company seeks to support the commercial needs of our business whilst acting in accordance with the principles set forth in paragraph 1 above and our Code of Business Conduct and Ethics. This may mean that the Company uses reliefs, exemptions and incentives, where legally available and permissible, or seeks to minimize double taxation in relation to the same income. The Company is committed to the arm’s length standard in transfer pricing and Organisation for Economic Co-operation and Development (“OECD”) guidelines including adherence to country-by-country reporting and the Pillar 2 framework which establishes a global minimum tax regime. The Company does not undertake a significant amount of tax planning with respect to the UK, but when it does and when appropriate, it enlists the assistance of qualified external advisors in the UK to facilitate compliance with local laws and regulations. - Governance and tax risk management
The Company has dedicated corporate tax and payroll/employment tax departments, consisting of appropriately qualified and experienced individuals. These departments work with various local country tax advisors to understand newly enacted tax laws and prepare and timely submit accurate tax filings in all jurisdictions in which the Company operates.
As a multi-national group, the Company can be exposed to tax risks ranging from the introduction of new tax laws to uncertainty in the interpretation of existing laws. Our tax department applies professional diligence and care in identifying, managing and monitoring these risks. The Company has appropriate governance and assurance procedures in place. These procedures are reviewed on a periodic basis and updated, when required. The Company is publicly traded on the New York Stock Exchange and is subject to the reporting requirements of the Securities and Exchange Commission, and accordingly our tax positions are presented in the Company’s consolidated financial statements which are audited by our independent registered public accounting firm in connection with the submission of our Annual Report on Form 10-K found here (link). The Company requires third parties with whom it operates to perform their work in compliance with applicable laws, rules, regulations and policies, as well as comply with our guidelines set forth in our Vendor Code of Conduct found here (link).
UK Stores’ Board of Directors is ultimately responsible for setting and implementing this Tax Policy. Day-to-day responsibility to comply with the policy rests with the Company’s CFO, Corporate Controller, Head of Tax, and (with respect to payroll/employment taxes) the Company’s Head of Total Rewards.
The Company routinely seeks professional advice where the application of tax law to a material transaction or given situation is reasonably unclear, or where specialist knowledge is required. This is often relevant in relation to the Company’s international tax matters. - Accepted Level of Risk
The Company conducts its business operations with a low tolerance for tax risks and takes a conservative approach to managing its tax affairs. The Company has policies and procedures in place to ensure that all tax payments, reporting, disclosures and other obligations comply with local regulatory requirements. - Tax strategy and relationship with tax authorities
The Company’s approach to taxes is consistent in all countries in which the Company operates and is summarized below for the UK:- Ethical, fair and transparent business practices
- Operation in compliance with all tax laws
- Tax follows business substance
- Developing and maintaining an open and collaborative relationship with global tax authorities, including His Majesty’s Revenue and Customs (“HMRC”) in the UK.
- The Company endeavors to comply with both the letter and spirit of tax laws in all countries in which it does business. Tax compliance is a serious and core obligation of the Company, and the Company has a zero-tolerance approach to tax evasion and the facilitation of tax evasion. When submitting tax computations and returns, the Company seeks to disclose all relevant facts and information on a prompt basis, to minimize tax risk and resolve any disputes as amicably and fairly as possible. The Company endeavors to cooperate fully and to respond timely and with accurate information to all HMRC inquiries.