Taxand Global Conference 2010
The opening plenary session of Taxand’s Global Conference 2010 outlined Taxand’s firm belief that the industry is facing a new era in tax planning. Good tax governance is a must as governments worldwide look to tax to claw-back monumental deficits. The rise in scrutiny and its implications for multinationals was a recurring theme as Taxanders from around the world presented a global view of the key tax issues facing clients today and in the future.
Hosted by Taxand Germany, this year's Taxand Global Conference took place at the Grand Hyatt in Berlin, from the 14th to the 16th April. Over 125 global Taxand clients attended alongside 250 Taxanders, to present and participate in a range of sessions focused on how to handle complex tax issues as we move into a new age of cooperation and transparency.
Key pointers from the conference
- follow 2 test levels for your tax planning: economic substance and business purpose
- tax mitigation is a duty
- avoid more than ever black listed countries
- take a regional / jurisdictional approach as one-size fits all cannot work
- make sure your internal tax governance procedures are robust
- focus on enhancing your relationships with the tax authorities
- always think long term when undertaking tax planning
- understand how to manage indirect tax risk and maximise opportunity
- seek to identify the operational and technological root causes of VAT compliance problems and fix them
- define the business case and direction to take vis-a-vis indirect taxes
- transfer pricing planning is essential to enhance the bottom line
- transfer pricing delivers short and long term benefits as long as there is business motive
- don’t worry about transfer pricing disputes as provided there is adequate documentation, technical and legal grounds, they can be defended
- how to strengthen the balance sheet through the waiver of debts; debt for equity swaps and debt acquisition
- how to maximise the deductibility of financing costs
- how to optimise NOLs in an M&A context
Anecdotes and case studies were also shared to help clients picture how to apply Taxand's experience to their businesses. Dr. Ralph Solveen delivered a stirring keynote speech assessing the soaring public debt and questioning whether or not inflation is around the corner.
Representatives from the International Tax Review - the only truly global publication dedicated to technical tax news - also attended the event to present some of the 20 awards Taxand won in 2009, recognising the quality of our international tax advice in the Americas, Asia and Europe.
Client feedback from the event has been excellent and many exceptional travel stories by clients and Taxanders alike have been shared as delegates fought the volcanic ash cloud emanating from Iceland to get home. This year’s Taxand global conference will not be forgotten in a hurry as tax issues continue to be hot in the face of scrutiny and travel stories reach unimaginable levels of absurdity!
To pick up your conference pointers, review the full presentations and for Taxander contact details select the blue links to download what you seek:
Full delegate pack
View all presentations, case studies and speaker details here.
Revisit the conference agenda and review the synopses for each plenary session here.
Bespoke client meetings were also arranged throughout the conference to discuss specific areas and jurisdictions of interest.Download the full Taxand and client meeting agenda here.
Ulrich Siegemund: Host & head of Tax of Luther, Taxand Germany. Our host welcomed nearly 400 delegates to our tenth annual global conference and played the Taxand film sharing our story and Vision for the future in the year of our fifth birthday: 'Our Taxand Story.'
Plenary Session I – Tax Planning and its Limits in the Current Climate
Chair: Ricardo Gómez, Spain
Mukesh Butani, India; Ernie Perez, US; Olivier Vergniolle, France
Helping you understand the current framework of anti-abuse measures in place in key jurisdictions; hot topics for tax inspectors and the Courts; and providing best practice guidance as well as recommendations to achieving tax transparency.
Plenary Session II – The Impact of Indirect Tax Change Worldwide
Chair: Laurent Grencon, Luxemburg
Rajeev Dimri, India; Henk Hop, Belgium; Mark McCormick, US
For insights into the latest indirect tax changes in Europe, Asia and the Americas and their implications for multinationals in addition to the key considerations for the future to achieve compliance and prepare for further VAT hikes.
Find out more about our Taxand global indirect tax team and services here.
Plenary Session III – Using Transfer Pricing to Plan Ahead
Chair: Antoine Glaize, France
Mukesh Butani, India; Manuel Candal, Venezuela; Ramon Lopez de Haro, Spain; Dale Hill, Canada; Shiv Mahalingham, UK, Mike Murphy, US, Friedhelm Stock, Germany; Dennis Xu, China
Presenting the main transfer pricing techniques across 10 jurisdictions; allaying fears re transfer pricing disputes and how to use transfer pricing to improve your bottom line.
Find out more about our Taxand global transfer pricing tax team and services here.
Keyno te Speech – Increase in Public Debt - Is Inflation around the Corner?
Dr. Ralph Solveen, Dep. Head of Economic Research, Commerzbank AG
For economic research reviewing rising public debt and the threat of inflation which could affect us all.
Plenary Session IV – M&A Structuring in a Challenging Environment
Dealing with the tax challenges derived from refinancing pre-crisis high priced operations; analysing new tax trends in connection with the deduction of financing costs and optimising tax losses in an acquisition are discussed in this session, as well as the latest issues and opportunities to consider in the countries where M&A deals are increasing.
Chair: Albert Collado, Spain
Denis Andres, France; Ian Fleming, UK; Martin Williams, USA
Find out more about Taxand global transaction tax team and services here.
Client Panel Discussion – How New Political Pressure is Affecting Multinationals' Tax Strategies
Three Taxand global clients joined Taxand moderators to discuss how multinationals are reviewing tax strategies across the globe in face of mounting political pressure. The changing role of the tax function; the need to cooperate further with authorities at the same time as generating cash within the business; the firm placement of tax on the Board agenda as governance increases and the difficulty of keeping up with ever-changing legislation worldwide were some of the issues covered.
Key comments were issued to the media over the two days of the conference visit www.taxand.com/media to find out more.
If you would like to know more about any of these topics please contact our Taxand speakers or your nearest Taxand advisor. If you would like to be considered for an exclusive invitation to our global conference in Paris next year or have any general queries your Taxand contact is:
Plenary Session I - Tax Planning and its Limits in the Current Climate
Plenary Session II - The Impact of Indirect Tax Change Worldwide
Plenary Session III - Using Transfer Pricing to Plan Ahead
Keynote Speech - Increase in Public Debt - Is Inflation around the Corner?
Plenary Session IV - M&A Structuring in a Challenging Environment
Client Panel Discussion - How New Political Pressure is Affecting Multinationals' Tax Strategies
- Multinationals Should not be Scared of Using Proper and Transparent Transfer Pricing Activity
- Multinationals to Seek Impact of Increasing Indirect Taxes as Governments Adopt New and Stricter Regimes
- Multinationals Reviewing Tax Strategies Across the Globe as Political Pressure Mounts
- Tax Planning Limits Recognised as Taxand Welcomes New Age of Tax Governance on Back of G20 Push