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Description
This is a hybrid session. You have the option to attend this live in-person or online. Please select accordingly at registration.
This one-day workshop will provide the latest update on the evolving and complex tax landscape in relation to BEPS 2.0 and Transfer Pricing Compliance requirements.
This topical and timely workshop will outline the key changes that are likely to arise mainly from the adoption of Pillar 2, from a corporate tax and TP perspective. It will also briefly discuss key operational changes that will need to be made by organisations to be ready for BEPS 2.0.
Additionally, this event will focus on new updates to transfer pricing compliance requirements with reference to Asia countries (featuring Singapore, Thailand, Vietnam and Cambodia) with key changes in TP rules recently. The use of multiple practical examples in this course will benefit Singapore taxpayers. They will gain a practical and in-depth understanding of the tax rules to comply with whilst avoiding costly tax risks to their business.
This unique workshop format offers you the option to attend either the AM or PM session.
AM Session: BEPS 2.0: Practical Implications of Pillar 2 on Singapore Taxpayers - Preparing for the Latest BEPS 2.0 Challenges click here
PM Session: Latest Update: Transfer Pricing Compliance Obligations – Understanding and Meeting your TP Compliance Obligations to Manage Transfer Pricing Risk click here
By attending the one-day session, you get to enjoy greater savings and buffet lunch will be provided! 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?
Q&A
PM Session: 1.30pm-5pm
An Update of Transfer Pricing Rules and Audits (and Penalties) – And How This Impacts TP Compliance Obligations:
- TP rules (including transaction and industry focus);
- Documentation (compliance) requirements;
- Audit focus; and
- Penalties and interest
An Overview of Recent OECD Transfer Pricing Changes and Country Responses
- OECD guidance on Financial transactions
- BEPS Actions 8-10
- Substance
Q&A
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
- Be kept abreast of the evolving and complex TP compliance landscape
- Gain a good understanding of the latest developments to TP rules, TP audit and penalties in Singapore
- Find out the impact of the latest TP regime changes on your TP compliance obligations
- Learn how to manage TP compliance risks and avoid hefty penalties
- Be updated on the recent and key changes in TP rules chiefly in Singapore, Vietnam, Thailand and Cambodia
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.
Christine Schwarlz
Christine is a Transfer Pricing Director with DFDL, with Asia regional coverage. She has specialised in providing Transfer Pricing advisory for over 10 years, from planning to transfer pricing defence support. Christine has worked with ‘big four’ firms and she has provided transfer pricing advisory to companies across a wide range of industries. She has a Masters in Tax from Sydney University, and advanced tax Diplomas from CIOT (UK) and Singapore Tax Academy. She has authored various papers and regularly provides transfer pricing training and presentations to tax and transfer pricing practitioners in Asia.
This is a hybrid session. You have the option to attend this live in-person or online via Zoom. Please select accordingly at registration.