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In operating across borders there is the risk of creating a Permanent Establishment (PE). Sometimes MNEs go a long way as to make sure that they do not run into an unintended PE risk and sometimes MNEs are considering and are effectively deploying a business strategy in having an intended PE in certain locations.
This workshop will cover the current developments, how it may lead to a PE and how to manage PE impact on your organisation. It will also address relevant international tax highlights from Budget 2023 and the impact of the relevant sanctioned BEPS 2.0 considerations regarding the allocation of taxing rights under Pillar One and the minimum tax rate considerations under Pillar Two vis-a-vis the relevance of the PE exposure.
This practical workshop will enable you to grasp the framework and essentials of PE as well as their impacts on tax planning, through a combination of numerous case studies and interactive discussions.
Overview of PE
- What is a PE
- Types of PE
- Singapore’s domestic definition of PE in Section 2 of the Singapore Income Tax Act
- Definition of PE provided in Article of the OECD and UN Model Conventions
Recent Tax Cases and Case studies
- PE tax considerations and cases –
- Online business models
- Construction activities
- Sales & marketing activities
- Recurring nature of activities
How do MNEs Manage PE Risk?
- Limited Risk Distributors (LRD) model
- PE blocker structures
- Personal Employment Companies (PEC)
- Monitor, manage business travellers
International Tax Considerations & Budget 2023 Highlights
- Current state of play BEPS 2.0
- Interplay rules Pillar One and Pillar Two and PE concept
What you will learn
At the end of this programme, you will be able to:
- Identify the different types of PE
- Evaluate the PE risks involved in establishing a business presence overseas
- Understand the tax framework in tax treaties for attributing taxing rights between countries Determine whether certain business activities of an enterprise constitute a PE
- Find out ways to manage PE risk
- Budget 2023 highlights and the development of BEPS 2.0 in relation to PE concept
- Tax Managers / Professionals
- CFOs / Finance Directors / Managers who wish to have a broad overview of PEs and understand their impact on their cross-border transactions and activities
- Finance Professionals who need to understand the implications of PE and its implications on their planning process
Partner, Head of Tax APAC, Mazars Singapore
Gene Kwee is the partner leading the tax practice of Mazars Singapore. Additionally, he is also appointed as the Regional tax leader for Mazars in Asia Pacific.
His area of specialization is in cross-border tax planning, advising on private equity and venture capital structures, merger and acquisitions, transfer pricing and international tax advisory services. He has more than 22 years of experience as a tax advisor, including 12 years as an international tax lawyer for one of the big four accounting firms in Amsterdam and Singapore. Thereafter, he successfully set up and sold his own tax advisory and legal firm. After which, he successfully built the multidisciplinary tax practice of Mazars in Singapore.
Gene is a trained Civil and Tax Lawyer and has practiced in The Netherlands and in Singapore.