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Monday 17 January (1300 - 1400)
This panel will discuss big global tax issues, such as:
- What the future holds for the next five years;
- OECD/G20 Global Pillars 1 and 2;
- Pillar 1: what are the issues still and what is the most likely
outcome? How has the change of direction left those keen to
tax, or reconcile the taxation of, digital operators?;
- Pillar 2: what is the likely outcome? Where does this leave bona fide tax competition for least developed countries (LDCs) and others?; and
- Pillar 1: what are the issues still and what is the most likely
- The balance of power in terms of initiatives for confirming global tax rules and dealing with perceived abuses.
Monday 17 January (1400 - 1520)
- Background of the proposal and implementation timeline;
- Overview of rules and ordering;
- What tax base is used?;
- Substance-based carve-outs;
- Country participation vs non-participation;
- The challenges of treaty implementation;
- The application of Pillar 2 to investment funds;
- The US controlled foreign company (CFC)/global intangible low taxed income (GILTI) rules and their relation to Pillar 2; and
- The end of tax competition? What is left?
Monday 17 January (1520 - 1610)
- The approach to OECD/G20 Global Pillars 1 and 2;
- The approach to promoting inbound investments;
- Trends in tax treaties, negotiations and revisions;
- Trends in enforcements; and
- A look to the future: the tax horizon.
Tuesday 18 January (1300 - 1410)
Tuesday 18 January (1410 - 1510)
- Updates on the unilateral digital service tax (DST) – feedback from Italy, France (DST), Mexico (no DST) and the Netherlands;
- The main digital business aspects of the OECD/G20 Global Pillars 1 and 2, interaction with current US tax reform and the EU approach;
- The Directive on Administrative Cooperation 7 (DAC 7) reporting for digital platform and joint audits;
- Updates on the litigation of digital cases and the current attitude of the tax authorities with digital businesses; and
- Other tax developments affecting cross border digital activities.
Tuesday 18 January (1510 - 1610)
- The evolution of the classification of crypto assets;
- The intersection of traditional and new capital markets;
- Financing blockchain projects – token offerings and other financing vehicles;
- New twists on traditional instruments/activities – Lending/ Decentralised Finance (DeFi), staking, and stablecoins;
- Tax compliance and enforcement in a decentralised environment;
- Application of tax concepts to Decentralised Autonomous Organisations (DAOs) and DeFi;
- Location, sourcing and withholding issues
- Information reporting and the exchange of information.
Tuesday 1 March (1300 - 1435)
This panel will focus on the latest developments in de-SPAC transactions, including the unique challenges and opportunities that arise in cross-border transactions.
The panel will explore:
- Recent de-SPAC trends;
- Going public with a special purpose acquisition company (SPAC) vs an initial public offering (IPO);
- Notable tax considerations in different jurisdictions;
- Re-domiciling the SPAC;
- Founder shares and sponsor considerations;
- 'Double dummy’ transactions;
- Triangular amalgamations; and
- Other combination structures.
Wednesday 2 March (1300 - 1430)
- An overview of US tax reform proposals and their current status’, including issues of interest to non-US investors;
- US offshore lending developments;
- Proposals affecting the deductibility of interest, including 163(n) IRC on excess debt;
- Recent changes to Passive Foreign Investment Company (PFIC) regulations of interest to non-US corporations; and
- Updates on GILTI and developments affecting worldwide minimum taxes.
Wednesday 2 March (1430 - 1610)
- Trends in taxation of cross border interest;
- Domestic developments on withholding tax on cross border interest in countries such as the Netherlands;
- Financing domestic acquisitions from abroad: debt-equity distinctions and the future of hybrid financing after BEPS Action 2 and the EU anti-tax avoidance Directive 2;
- Interest barrier rules;
- Notional interest deductions (NIDs) and special regimes;
- The Debt-Equity Bias Reduction (DEBRA) allowance that has been launched by EU;
- Changes in financial structures as a result of OECD/G20 Global Pillars 1 and 2;
- The Directive on Administrative Cooperation 6 (DAC 6) and financial transactions; and
- Intragroup financing and treasury companies – challenges between new CFC rules and OECD transfer pricing guidelines on financial transactions and beneficial ownership requirement.
Thursday 3 March (1300 - 1415)
This panel will examine the latest cases that impact on crossborder finance and capital markets including on treaty abuse, other anti-avoidance measures, recent case law on financing transactions, managing international tax disputes and transparency issues.
Thursday 3 March (1415 - 1530)
- The key points and trends in transfer pricing litigation, including Italian Supreme Court case no 1232 (January 21 2021), Coca-Cola v IRS (November 18 2020), among others;
- New developments in applying transfer pricing rules to financial transactions;
- How tax authorities’ transfer pricing audits are evolving for hidden permanent establishments, forward subscription structures and other cases;
- The changing role of profit split methods in resolving transfer pricing disputes;
- Update on the mutual agreement procedure (MAP) and advance pricing agreement (APA) procedures; and
- Practical issues and the impact of Covid-19 on transfer pricing and year-end adjustments.
Thursday 3 March (1530 - 1610)
- Structuring income from IP (synthetic royalties);
- IP planning after the OECD/G20 Global Pillar 2;
- IP planning in the context of CFCs;
- IP migration and/or onshoring of IP;
- Withholding tax problems for royalties based on where a patent is registered;
- The problems with sourcing software related income for IP maintained in the cloud;
- The potential impacts of pending US tax legislation; and
- Substance requirements
Friday 4 March (1300 - 1420)
- The UK tax arena post-Brexit;
- Withholding tax developments;
- The impact on tax treaties and EU directives, such as the new German anti-treaty shopping rules and new Italian dividend which withholds a tax exemption for distributions to EU regulated funds;
- The EU anti-tax avoidance Directive 3 (ATAD 3)/EU shell entities initiative;
- The EU anti-tax avoidance Directive 2 (ATAD 2);
- OECD/G20 Global Pillar 2; and
- Country-by-country financial reporting.
Friday 4 March (1420 - 1510)
- Charting the upheaval from the Denmark cases;
- Shell entities and economic substance under the EU Anti-Tax Avoidance Directive 3 (ATAD 3): challenges with a one size fits all policy;
- Navigating OECD/G20 Global Pillar 2; and
- The appropriate strategies for change: removing problematic holding companies or bolstering local substance.