Up-to-date analysis and comment on international corporate tax and transfer pricing matters

The rollout of the Pillar 2 GloBE minimum tax rules in 2023 is seeing steady progress, globally and in the Asia-Pacific region. While China has not, to-date, set out any formal plan on GloBE rule adoption, the general view is that this will happen in due course. 

Even prior to any application of the GloBE rules by China, businesses operating in China, both foreign and Chinese-owned, will see impacts from the GloBE rules. 

This webinar will cover several themes including: 

Impacts on typical corporate structures used in connection with Chinese operations;

Impacts on Chinese tax incentives;

Preparing for GloBE: accounting and data management; and

Adapting to post-GloBE reality: M&A considerations and restructuring.

The webinar will conclude with a Q&A session.

Rollout of BEPS 2.0 pillar two – considerations for companies operating in China

Join ITR and KPMG China at 10am BST (5pm China Standard Time) on April 27 as tax and tech experts discuss the digitialisation efficiencies businesses could achieve under China’s ambitious plans.

In 2021, the Chinese government issued ‘Opinions on Further Deepening the Reform of Tax Collection and Administration’, which set up the tax administration development blueprint for the next five years. The key objective of the blueprint is to build up the advanced 'intelligent taxation' tax supervision system via digital upgrading and intelligent transformation.

Specifically, the tax authorities would build up the Golden Tax project Phase IV, fully digitised E-invoices, the new generation of the Electronic Taxation Bureau and a risk decision-making platform, together with optimisation on Supervision and Administration mechanism to strengthen risk supervision and improve the  supervision’s accuracy and efficiency for the tax payers.

Against this backdrop, enterprises operating in China are facing increasing challenges and therefore advancing the digital transformation of their tax management.

To help enterprises address these challenges, the KPMG Tax Technology Client Solutions (TTCS) team has self-developed a tax system named KPMG KeyTax Platform (Key Tax) and built a comprehensive solution via KeyTax together with our ability on tax advisory and product design to help the clients advance tax digital transformation.

In this session, KPMG experts will share their insights on KeyTax and tax digitalisation developments and how to help enterprises promote their tax digitalisation.

Webinar: Tax management digitalisation challenges for enterprises in China

Join ITR and Thomson Reuters at 9am GMT (8pm Australian Eastern Daylight Time, 2.30pm India Standard Time, and 5pm Singapore Standard Time) on February 23 as industry experts discuss the wide-ranging efficiencies that can be achieved by automating and centralising financial processes through a single global hub.

The centralisation of tax and financial compliance is key to increasing data quality, cost efficiency, and corporate governance. However, multinational corporations often rely on in-country specialists to fulfil statutory financial reporting and indirect tax compliance processes. Information on these decentralised activities is often stored locally in different formats, languages, and systems. The end result is laborious manual processes, time-consuming and costly audits, and penalties for regulatory filing delays. 
 
These challenges present a huge opportunity for shared service centres (SSCs), centres of excellence (COEs), and global capability centres (GCCs) to streamline their indirect tax and statutory reporting processes. 

In this complimentary webinar co-hosted by ITR and Thomson Reuters, industry experts will discuss the wide-ranging efficiencies and strategic business benefits that can be achieved by automating and centralising financial processes through a single global hub. 
 
Join us on February 23 2023 to learn: 
• How the centralisation of knowledge-based indirect tax and statutory reporting compliance can deliver measurable cost savings, strengthened managerial oversight, improved risk management, and valuable business insights; and 
• How expert technology that leverages the expertise of accounting firms can transform global financial compliance and support business growth plans. 
 
Sign up now for this expert webinar to learn how centralisation can supercharge your firm’s tax and financial compliance.

Webinar: Supercharge your tax and financial compliance through centralisation

World Tax editor Jon Moore tells you everything you need to know to maximise your company and practitioner rankings for the World Tax 2024 rankings, exposing your work to its global audience of tax professionals at the world's largest corporations across all sectors.

The conversation will conclude with a live Q&A where the editor will answer any additional questions you may have that are not answered by the presentation. 

What to expect:  
• Introduction to the 'three pillars' of the World Tax research process
• What information are our researchers looking for?
• What details can and should you include in your submission?
• What makes a great submission?
• Q&A

World Tax 2024 - Your questions answered

Join ITR and TMF Group’s tax experts at 2pm CET (1pm GMT) on November 15 as they discuss how finance leaders are increasingly faced with doing more with less, and how CFOs should adapt.

Business complexities around the world can frustrate finance centralisation plans. This webinar will provide real-life examples on how local complexities might hinder finance transformation and centralisation ambitions. There will also be practical hints on how to handle those complexities.

Webinar: Finance centralisation – How to handle global business complexities

Join Peter Boerhof, the VAT director of Vertex, in a fireside chat with ITR at 10am GMT on November 10 to discuss how to manage the tax complexities of cross-border sales.

In the midst of growing economic uncertainty, businesses are continuing to diversify their e-commerce offerings, exploring new territories to sell to and new routes to market.

But as businesses look to exploit these opportunities, they are exposing themselves to potential indirect tax implications. To remain tax compliant, and foster the frictionless experience customers expect, businesses trading online need to manage tax complexities at every stage.

In this fireside chat from Vertex’s VAT director, Peter Boerhof, he will share the findings from a recent Vertex survey of 730 tax and finance decision makers, all from businesses making online cross-border sales. The research looked to reveal how indirect tax complexities are hampering these businesses’ ability to grow.

The discussion will include:

Why indirect tax solutions need to be at the forefront of your e-commerce growth strategy;
How to create a vision for tax success, and why good planning is a necessity; and
How to find the right solution that will give you greater tax certainty and lower your audit risk.

Turning indirect tax from a growth inhibitor to an enabler

Join ITR and KPMG China at 10am BST on October 19 as they discuss the personal, employment, and corporate tax-related implications of employees working from overseas.

Webinar: Navigating the risks and opportunities of remote working

Join ITR and Thomson Reuters at 2pm (UAE) / 11am (UK) on October 13 as they discuss how businesses can prepare for Tax Administration 3.0 and future-proof against changes such as e-invoicing and increasing digitisation.

Webinar: The Future of Tax Reporting

Join ITR and insightsoftware at 3pm BST on September 28 as they discuss the OECD BEPS 2.0 Pillar Two legislation, the implications for multinational tax teams, and how to minimise risk and prepare for compliance.
Register here for ITR and insightsoftware’s webinar on assessing the implications of Pillar Two and planning your next steps.
Join Kathryn Abate, Senior Product Manager, to hear about the practical consequences of Pillar Two, and to have your most pressing questions answered. 
Constantly changing tax reporting requirements have been the norm for tax teams for quite some time. However, Pillar Two, when it comes, will introduce substantial new complexities into the tax compliance, reporting and forecasting processes. 

The implications for forecasting, corporate structuring, transfer pricing decisions, reporting processes, and the use of tax technology will be significant. 

Tax teams that have previously relied on spreadsheets or a disjointed set of software tools to support their tax reporting and forecasting will soon find it difficult to manage these complex models. The companies that are learning how to incorporate Pillar Two into their existing tax reporting and forecasting processes, making adjustments as needed, are ahead of the curve. 

Join us on this webinar to hear insightsoftware’s Kathryn Abate, Senior Product Manager, address your questions around how to modernise and streamline your tax reporting and forecasting, while creating capacity for the introduction of Pillar Two. Questions covered will include: 

• How to achieve a single source of truth and quickly compare actual figures against forecast data;
• Why increased collaboration and planning will be critical for future success;
• How Pillar Two impacts strategic tax reporting and forecasting; and 
• The role of technology in preparing for and complying with Pillar Two requirements. 
Register here for the webinar on September 28.

Pillar Two – Assessing the implications and planning your next steps

Join ITR and TMF Group’s tax experts at 2pm BST on August 17 as they discuss trends towards global alignment, stricter governance, and increasing digitalisation – and how tax teams can achieve success in this environment.

Global tax trends indicate a mixture of good and bad news for tax teams, creating an environment in which risk and opportunity sit side-by-side. This is according to research by TMF Group, published in its Global Business Complexity Index (GBCI) 2022. 
Tax authorities are becoming stricter: the percentage of jurisdictions that allow companies to voluntarily correct their tax returns without receiving a fine has decreased since 2020. Authorities are also making use of big data to target companies deemed to be high-risk.
However, jurisdictions are increasingly bringing their tax policies into alignment, which creates opportunities for efficiency. Authorities are also displaying a desire to work with and support companies. While 27% of jurisdictions reported that no notice was needed before a tax audit in 2020, this has dropped to 19% in 2022.
In this mixed environment, tax teams should keep on top of the changes, and the risks and opportunities they bring, to protect and advance their company. 
Join TMF Group’s tax experts for advice on how to find success in a climate of growing global alignment, stricter governance, and increased digitalisation.

Speakers: Emine Constantin, Global solutions director, Accounting and Tax (EMEA), Maja Mandela, Head of Accounting and Tax (CEE), Aphro Hong, Associate Director and Market Practice Leader, Accounting and Tax (China and Taiwan), Vitor Benetti, Senior manager, Accounting and Tax, TMF Group. 
Moderator: Alice Jones, Commercial Editor, ITR

Global tax transformation – Three rising trends CFOs should know about

ITR and Vertex will host a webinar to explore the challenges facing online sellers and marketplaces after COVID-19, and to discuss ways to improve indirect tax efficiency and compliance.

Join our experts, Jordi Sol, senior manager of international tax innovation at Taxamo (a Vertex Inc company), and Anitha Chakravarthi, global head of indirect tax and tax technology at Ebay, to discuss topics including:

Sellers vs marketplaces
Not all marketplaces provide the level of support with tax compliance that sellers are looking for. In a competitive landscape, marketplaces need to adapt their offering to meet the demands of their clients. This is particularly important as tax authorities impose increasingly stringent data requirements.

Removing marketplace friction
Which issues are causing obstacles to marketplace business success? Marketplace growth, in particular, can be hindered by indirect tax complexity. Anitha and Jordi will discuss the tax challenges for marketplaces and how to tackle them.

Delivering for customers
Both marketplaces and sellers have the same ultimate goal: to deliver what the end customer wants. However, tax can get in the way of achieving this. Anitha will share how using technology and working collaboratively with sellers can help a marketplace reach its potential.

Indirect tax changes
Setting the challenges to marketplaces and sellers in the wider landscape of indirect tax changes, Anitha and Jordi will discuss the vast changes that have happened – and are still happening – in the regulatory landscape.

Increasing reporting requirements such as e-invoicing and continuous transaction controls (CTCs) are just some of the changes that indirect tax teams should be keeping an eye on.

Tax technology options 
In an increasingly digital world, where tax authorities are requiring increasing access to accurate near-real-time data, tax technology in some form is the only way to manage compliance.

Marketplaces and sellers- Navigating the cross-border tax journey

ITR and Thomson Reuters will host a webinar on June 23 at 4pm Singapore time/1.30pm India time/9am UK time to explore current and future developments impacting tax departments in India and Southeast Asia.

Against a backdrop of skills shortages, regime changes and ongoing digital transformation, what can today’s tax teams do to get ahead of change, challenges and risk?  

Join Piyus Vallabh from Deloitte, Sunil Dhareshwar from Infosys Ltd and Karan Batra from Thomson Reuters who will discuss the approaches tax departments are taking to manage various tax determination and compliance processes.

What lies ahead for India and Southeast Asia’s tax departments?

ITR and KPMG China hosted a webinar on June 22 to share insights on how businesses in China are adapting to the tax challenges of the COVID-19 era.

At a time when the world has been dealing with COVID-19 for years, businesses are facing greater challenges than ever before. These include anti-COVID control measures, geopolitical shifts, and Sino-US political tensions.  

To be better prepared to tackle the tax challenges of these events, industry practitioners need to re-examine the changing patterns and direction of their business development. These will have significant associated tax, customs, and transfer pricing issues.  

In this webinar, KPMG China’s presenters explained the new trends of business operating in the market, and shared their views on the impact on tax.

Hainan and changing supply chains – Adapting to a new business landscape

ITR and Thomson Reuters will host a webinar on May 25 at 11am BST / 2pm GST to explore the key developments that are shaping the MENA region’s tax environment, and discuss how indirect tax technology can help tax teams to face these challenges head on. 

Join our panel of experts including Wadih Abou Nasr, Business Tax Services Leader MENA from Ernst & Young and Hany Elnaggar, Group Direct & International Tax Leader (ME & GCC). 

In this webinar the panel will discuss:

• The evolution of tax in the GCC and globally
•  How tax teams can continue to ensure accurate and on-time compliance, while staying ahead of changing regulations
•  How tax technology allows tax departments to manage increasing complexity more efficiently in-house

Webinar: Using technology to tackle tax changes and complexity in MENA

ITR and Thomson Reuters hosted a webinar to share insights into how tax engines can help businesses meet the needs in an increasingly complex tax environment.

Hosts, Laurence Pollinsky, Senior solution architect from Thomson Reuters, and Michiel Ruys, Associate partner, Indirect tax technology from EY discussed the following topics:

- The changing regulatory landscape and meeting indirect tax obligations
- The rationale and principles of a tax engine
- How to secure buy-in of key stakeholders
- The US HQs factors when considering tax engines in an EU office
- Considerations and practical tips for successful tax engine deployment

Tax engines - An essential tech for EU and global organisations

Hosted by ITR and TMF Group, the live webinar will take place on March 31 at 3pm BST (4pm CEST).

 Implementing a new ERP system always introduces additional complexities and challenges to businesses and their financial teams. In a recent survey conducted by TMF, most companies expect to face major challenges with people, processes, and in-house expertise in future ERP localisation projects.

Join Csaba Farkas, head of global accounting and tax consultancy at TMF Group, to learn more about the common pitfalls in ERP localisation projects and practical matters that should be prioritised in finance teams’ agenda.

Webinar: Common challenges and practical tips in ERP localisation projects

In association with Avalara, ITR hosted this live webinar in 2021, in order to explore in detail and provide practical advise around the EU's new VAT regime in view of the Import One-Stop Shop (IOSS) scheme, implemented July 1, 2021.

Access the video to learn how the e-commerce reforms have affected businesses since their introduction, and what potential opportunities are for businesses, namely:
• Import One Stop Shop (IOSS) is important for businesses trading into the EU
• Learn how to use IOSS as your shipping model to help simplify your process
• Go through the comparison of shipping options (DAP vs DDP vs DDP with agent vs IOSS)
• Union IOSS for businesses holding stock inside the EU
• Factors to consider with choosing models for transactions and consignments above €150
• Indirect customs representation and how this works practically

EU VAT Update: Getting a grip on EU rules for trading and staying VAT compliant

In association with KPMG China, ITR will host a live webinar on March 10 at 9am GMT / 5pm CST (Beijing time).

In managing transfer pricing policies and risks, many multinational enterprises resort to TP adjustments at the end of a financial year to either increase or decrease the local entity’s profitability to align its financial results with the TP policy of the group. 

In this webinar, KPMG China’s TP and customs specialists will provide insights into the technical position and also share their most recent experience in implementation of year-end TP adjustments, including discussions on the practical difficulties faced by as well as the possible solutions available to the Chinese subsidiaries of multinational enterprises.

Transfer pricing adjustments in China – What you should know

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