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Description
This is a hybrid session. You have the option to attend this live in-person or online via Zoom. Please select accordingly at registration.
This is the AM session of our one-day workshop.
In recent years, the Organisation for Economic Cooperation and Development (OECD) has been focusing on tax rules around the digitalization of the economy – BEPS 2.0. This consists of two broad parts:
- Pillar 1: which focuses on new nexus and profit allocation rules to ensure that, in an increasingly digital age, the allocation of taxing rights with respect to business profits is no longer exclusively circumscribed by reference to physical presence.
- Pillar 2: which options and issues in connection with the design of a global minimum tax that would address/ prevent the ability for MNCs to shift profits from higher tax jurisdictions to lower tax jurisdiction, with a view to erode the tax base.
Since the strong political agreement issued by OCED/Inclusive Framework to the two-pillar implementation plan in October 2021, political commitment from major countries have since wavered. This has led to implementation uncertainties, nevertheless, important elements of the rules continue to be developed with implementation dates announced in different countries ranging from 2023 to 2024.
How will this new tax framework impact you? This timely workshop will outline the key changes that are likely to arise from the adoption of Pillar 1 & Pillar 2, from a corporate tax and TP perspective. While we focus on the tax aspects, we will also discuss key operational changes that will need to be made by organisations to be ready.
This unique workshop format offers you the choice to attend either the AM, PM or one-day session
PM Session: Latest Update: Transfer Pricing Compliance Obligations – Understanding and Meeting your TP Compliance Obligations to Manage Transfer Pricing Risk, click here.
One-day Session: Latest Update: BEPS 2.0 & Transfer Pricing Compliance Obligations - Stay Updated and Compliant with the Latest Tax Rules to Manage Tax Risks, click here.
By attending the one-day session, you get to enjoy greater savings and buffet lunch. Register NOW!
Programme Outline
AM Session: 9am-12.30pm
Quick Overview of Action Plan 1:
- Transition of Action Plan 1 from Digital Economy to the Digitalization of the economy
- Overview of Pillar 1
- Overview of Pillar 2
Deep Dive into Pillar 2
- How does the global min. tax regime work (with practical exercises)?
- Subject to Tax Rule
- GloBE Qualified Domestic Minimum Top-up Tax
- Income Inclusion Rule and Undertaxed Payment Rule
- GloBE Income, Adjusted Covered Taxes, Jurisdictional ETR, Top-up Tax%, Excess Profit, Jurisdictional Top Up tax
- Impact on operations
- Impact on tax/ transfer pricing policies
- What changes should you make to your operating model
- How can you be prepared for these changes?
- Current impact of these changes
- What else can we expect moving forward?
What you will learn
- Obtain a good understanding of the key changes that are taking place globally in relation to Pillar 1 and Pillar 2.
- A focus on Pillar 2 and how these changes are likely to impact a Singapore taxpayer’s operations.
- What should/ could Singapore taxpayers do now to weather these potential changes
Target Audience
- Business owners;
- In-house tax professionals;
- Finance professionals; and
- Middle management and above
Expert Speaker
Annalise Foong
Annalise is a Chartered Accountant (Chartered Accountants Australia and New Zealand) and Legal Practitioner (Law Society of New South Wales) with 20 years of extensive experience in the areas of international tax, mergers, acquisitions and integration planning, both from the commercial and professional services environment.
Annalise is the founder and Principal Consultant of FlexTax Consulting, an international platform for tax professionals that seeks to establish an eco-system that enables connections, learning and mentoring support.
Prior to founding Flextax Consulting, Annalise held positions that were specifically relevant to international tax practice and public policy. In particular, she was the Global Tax Director at a large HKSE listed company with full scope responsibility for direct tax, indirect tax and customs matters. In this role, she led teams of regional tax managers and analysts in global locations who were involved in all strategic planning and compliance matters associated with both direct tax and transactional tax matters for the Group.
This is a hybrid session. You have the option to attend this live in-person or online via Zoom. Please select accordingly at registration.