Airbus fined £6.4m for breaching rules on export of sensitive technology

Manufacturer self-reported the offences to HMRC in the tax authority’s largest out-of-court settlement Airbus has been fined £6.4m in the UK after the European aerospace company admitted to multiple breaches of rules designed to stop sensitive goods such as military hardware falling into the wrong hands. The company, which sits at the heart of the European defence industry, said it had paid the settlement to the UK’s tax authority, HM Revenue and Customs, after self-reporting breaches that occurred before November 2022. Failing to keep accurate records of transfers of controlled technology as per the conditions of three of their Open General Export Licences (Ogels). Multiple occasions failures to keep registers in relation to Ogels. Failing to keep accurate records contrary to the conditions of one of their Ogels. A failure of licence conditions on a standard individual export licence (SIEL). Continue reading...