World Tax & World TP and ITR Awards - Your questions answered

Juan Frers, director of the Worldwide TaxNet, discusses the new laws coming into effect in various countries across the Latin America region, offering practical insight for technology companies and the advisors who serve them.

ITR hosted a live webinar, along with Dhruva Advisors and Taxsutra, on Monday, February 1 to analyse the implications of the tax proposals in India’s 2021 budget.

ITR and Vertex Inc will host a live webinar on Tuesday, December 8 to discuss a business case for a tax engine.

In the first two webinars, ITR and Vertex discuss the benefits of a tax engine and the subsequent tax and IT consequences of the developments.

In the final webinar, we will bring the plan to the C-suite. How do you convince the CFO that a tax engine is the best solution from both an IT and a tax perspective?

After this webinar, you will have insights in to the financial costs and benefits that you would need to build a business case.

The Covid 19 crisis has impacted businesses in several respects: in many cases with the reduction of their profitability, changes in the working conditions of their management and teams via the use of digital tools or negotiation of financing to overcome the crisis.

Now multinational groups may need to consider a restructuring of their operations (taking into account relocation opportunities) and a review of their transfer pricing policy, a better identification of the places where the management or activity is performed or a refinancing of their operations.

Besides, in the near future, many new or potential rules are expected to modify the taxation of the digital industry (and could possibly affect other industries).

This webinar will address these post-Covid 19 tax challenges and, in particular, discuss the following:

1.Corporate tax challenges in the context of business restructurings / reorganizations:

Use of tax losses by reorganizing the group
Transfer tax issues
Nexus approach and IP utilization

2.Transfer pricing aspects 2021:

Remuneration of routine entities
Transfer and remuneration of intangible assets
Inter-company financing

3.Potential impact of home office on the places of management or establishments of multinational groups:

OECD analysis proposed in April 2020
Applicability in 2021?
Will the concepts of permanent establishments and effective place of management survive to the sanitary crisis ?

4.New tax environment for the digital industry:

Update on the works at OECD level
Implementation of a digital services tax in a number of countries
Potential new obligations imposed by DAC 7 on digital platforms

Kate Barton, EY global vice chair – tax, introduces the 10th annual EY Young Tax Professional of the Year competition.

ITR and Vertex Inc will host a live webinar on Thursday, November 12 to discuss the limitations of tax within SAP S/4 HANA and reveal more about the Vertex tax engine

When it comes to selecting the correct solution provider, the tax aspect would invoke specific business requirements and the IT aspect will entail consideration of certain technical requirements.

At first sight, many solution providers may appear to provide similar results but the devil is in the detail. What is real and what are perceptions?

In this webinar, speakers from Vertex will provide detailed insights into the benefits of implementing a tax engine so you can select the best solution for your business.

Join our webinar on November 12 to learn about the limitations of tax within SAP S/4 HANA and discover how the Vertex tax engine can help improve your company’s tax processes.

In association with KPMG China, ITR will host a live webinar on October 21 at 9am GMT / 10am BST / 5pm CST.

Multinational enterprises (MNEs) have had much to consider for their tax functions in 2020, amid widespread economic and digital change.

China, the world’s second largest economy, has observed a trend of increasing business restructuring. MNEs have actively sought to re-align their China operations with their group’s value chain transformation.

Register to listen to Patrick Lu, partner of KPMG global transfer pricing services, shed light on how MNEs could further improve operational and tax efficiency via value chain re-imagination.

The 60-minute webinar will be moderated by ITR's Prin Shasiharan. The webinar will be followed by a Q&A session.

ITR and Vertex Inc will host a live webinar at 3pm CET / 2pm BST / 9am EST on Tuesday, October 20 to discuss the advantages of tax automation in SAP S/4 HANA, and discover how to improve accuracy and efficiency across your tax and IT processes.

The migration to SAP S/4 HANA provides a unique optimisation opportunity for both tax and IT but also a range of challenges. A problem shared is a problem halved.

For IT, when considering work across multiple jurisdictions, product groups and frequent changes in legislation, there is a challenge to maintain the numerous tax customisations and condition records when rebuilding these in SAP S/4 HANA, where there would be a more effective solution.

For tax, the migration provides a unique opportunity to regain control over indirect tax processes and harmonise settings, controls and processes globally.

The solution could be to add a Vertex tax engine. But how do tax and IT work together towards this solution?

Join our webinar at 3pm CET / 2pm BST / 9am EST on October 20 to learn more about the advantages of tax automation in SAP S/4 HANA, and on how to improve accuracy and efficiency across your tax and IT processes.

As the Brexit transition period comes to an end within just a few months' time, what chance is there of a trade deal being struck? What will it look like, and will it be meaningful?

Topics to be discussed:
+ Progress on negotiations
+ What has the UK's HMRC already put in place for VAT and customs?
+ What is the EU doing?
+ What are the 10-planning points any business selling goods should take care of?

ITR and KPMG will host a live webinar on Tuesday, September 29 to discuss the most prominent credit and distressed assets opportunities in China.

The impact of COVID-19 on corporate groups’ earnings is in many cases making access to typical lines of credit more difficult. However, from an another viewpoint, this is presenting funds with opportunities to provide alternative financing.

Although investments in single credit opportunities, or portfolios of non-performing loans, may not give rise to immediate tax charges, tax may feature prominently if an investment ultimately turns around. If tax is not addressed at the time of making the investment, unintended tax leakages, on restructuring debt or on eventual exit, can significantly impact the investment’s overall internal rate of return (IRR).

At the same time, consideration needs to be given to how distressed investments are permitted to be made and returns repatriated to investors, since structures used in more sophisticated markets cannot simply be replicated in highly regulated markets in Asia such as China.

In this webinar, Henry Wong and Nigel Hobler of KPMG will discuss the regulatory and tax aspects of the following:
•General regulatory and tax regimes in China;
•Different types of debt investment opportunities in China;
•Offshore and onshore structures and associated tax and regulatory issues involved in acquiring, restructuring and realising investments; and
•Repatriating investment gains to investors.

The 60-minute webinar at 9am GMT (10am London time / 5pm Beijing time) will be moderated by ITR’s Commercial Editor Prin Shasiharan. The webinar will be followed by a Q&A session.

Accounting and tax principles are becoming standardised. However, local differences remain and those requirements must be factored in when a company moves to a shared service centre model.

Companies should also keep in mind that alongside compliance, cross-border variances also impact the cost of doing business and determine the systems and processes to implement.

Join us during this webinar to learn about the issues and challenges related to complexity and local financial compliance.

Emine Constantin and Jessica Nunes will discuss:
•How local GAAP compares with international reporting frameworks; and
•What international companies need to do to adapt group reporting to meet local requirements, and how they can effectively manage these changes.

The 30-minute webinar at 2pm GMT (3pm London time / 10am EST) will be moderated by ITR’s Commercial Editor Prin Shasiharan. The webinar will be followed by a Q&A session.

ITR and KPMG will host a live webinar on Tuesday, July 21 to discuss the business implications of China's development of the Hainan free trade port.

On June 1 2020, the Chinese government released a master plan for policies to support the development of the Hainan free trade port. The aim is to build Hainan Island, on China’s south coast, into a globally-significant free trade port by 2050 that marks a new stage in China’s opening-up.

Policies will be rolled out to facilitate trade, liberalise investment, allow capital to flow freely cross-border, make transit more convenient for people, and ensure the safe flow of data. Improvements to the tax and legal systems will be made to support the development of the free trade port.

In this webinar, Han ShengJian, Director General of Hainan International Economic Development Bureau, and Nicole Zhang, partner-in-charge of Hainan initiatives in KPMG China, will share their insights on the plan for Hainan free trade port and explore how businesses can best seize the new opportunities that will emerge from the development.

The 60-minute webinar will be moderated by ITR’s Commercial Editor Prin Shasiharan. The webinar will be followed by a Q&A session.

ITR and professional services firm TMF Group will host a webinar on July 16 on the tax dimensions of carve-outs, discussing how professionals can plan to successfully implement them in a cross-border setting.

Carve-outs have become increasingly popular among global dealmakers, with a threefold increase in volume since 2016. Post COVID-19, this impetus should continue as a mixture of pent-up demand, distressed and non-core assets, and lower valuations that lure cash-rich private equity firms and corporates back to the deal table.

But what about the accounting and tax aspects of carve-outs?

During this webinar, Emine Constantin, TMF Group’s head of accounting and tax, will tackle the common accounting and tax pitfalls in a carve-out such as:

• Set-up of tax structures: tax registrations and administrative processes;
• Impact on the cost of compliance; and
• Tax compliance processes: main items to be considered.

Broadcast live at 13:30 GMT / 8.30 EDT on Thursday, July 16 2020. Register your place today.

As the UK's transition period within the EU Customs Union and VAT regime runs down, negotiations on the future trade relations between the UK and EU are stuttering. Little progress on the major issues has been made, and the COVID-19 crisis has distracted all sides. At stake is the imposition on full tariffs and burdensome VAT compliance obligations if a trade deal is not struck. This webinar summarise the progress on the talks, and what's at stake for businesses in the UK and EU if there is no breakthrough.

This webinar will cover:
- What progress has been made on the talks so far
- What is the timetable and flash points until the transition period ends this year?
- How will the Northern Ireland dual regimes work?
- Is an extension of the Brexit transition a possibility?
- Update on tax authorities’ Brexit planning
- What you should be doing now to mitigate the risks

The world is trying to comprehend the implications of a pandemic and associated economic downturn. Multinational companies’ transfer prices, analyses and documentation process are all under review. The BEPS Action Plans are in full force, and the level of transfer pricing scrutiny is high across all markets. Social distancing is affecting current documentation methods that previously involved manual processes and face to face meetings – what impact is all this having on workflow and accuracy?

This webinar will explore why the current situation has heightened awareness of the advantages and necessity of digital and automated documentation practices.

Join this webinar to:

•understand the internal challenges facing businesses in terms of managing TP workflows due to social distancing
•learn how automating TP documentation and management workflows can increase accuracy
•examine how some multinationals are already successfully leveraging technology and tools to facilitate documentation globally

Countries around the world are turning to emergency tax breaks to support their stuttering economies in the midst of the coronavirus crisis. A number of global VAT measures have already been introduced to try to ease the financial burden being felt by many.

The UK Chancellor, Rishi Sunak, announced last month that no UK business would have to pay VAT until after 30 June 2020. However, the measure has left many of the 2 million affected businesses confused on repayment, any interest charges and the direct debit process. Whilst HMRC have also postponed MTD for VAT phase 2 until 1 April 2021.

In this webinar we will cover:

•What options and measures are open to government
•Deep-dive into country easements to date
•What indirect tax steps can businesses take in managing their cash

ITR and professional services firm TMF Group will host a live webinar on Thursday, March 26 to discuss the impact of artificial intelligence (AI) on the tax industry, discussing its true definition and the steps that businesses can take to use it cost efficiently.

In today’s market, technology is the primary driving force for change in the global economy. Innovative platforms continue to alter expectations of the traditional notion of tax – whether it concerns making the most out of tax benefits or, alternatively, cracking down on tax evasion. Meanwhile, as some businesses aim to use AI to move towards a cost-efficient future, others express fear that automation could lead to job losses and the introduction of a further tax on machines.

During this webinar, Russell Sheldon, TMF Group's chief operations and technology officer, will help you understand what AI is and how it will affect tax professionals.

The webinar will discuss:

•What does AI mean?
•How and what does it mean for tax professionals to use AI in their daily operations?
•Is there a risk in handing your tax advice and compliance to AI?
•Which jurisdictions are leading the way in this area?

Broadcast live at 13:00 GMT / 9.00 EDT on Thursday, March 26 2020. Register your place today.

On January 1 2021, the member states of the European Union (EU) will introduce sweeping reforms to the VAT obligations of B2C eCommerce sellers and marketplaces.

The key reform will mean some sellers will be able to report all their pan-EU sales on a single VAT return in their home country instead of having multiple VAT registrations across the EU. The aim is to boost cross-border online trade and promote trade across the EU’s digital single market by reducing compliance obligations.

The changes also seek to tackle the stubborn €5 billion eCommerce VAT fraud gap, with member states looking to close import loopholes and co-opt online marketplaces into collecting VAT in place of sellers.
This webinar will provide an overview of the major reforms, and how it will affect sellers and marketplaces’ obligations. This is based on three major reforms planned for 2021.

• A single EU VAT return for eCommerce
• Closing the import VAT exemption loophole
• Marketplaces become the deemed seller and VAT collector