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!