This morning, our Director of Financial and Tax Services, Ms Annalise Foong spoke at a Wolters Kluwer webinar titled: Recent Developments in Global Tax Management: Preparing the Tax Leader in Today’s Uncertain World, organised by Wolters Kluwer.

Ms Foong shared insights on 3 key topics affecting global tax leaders under evolving market conditions.

First, on the current geopolitical environment and its impact on technology transfer restrictions, volatile supply chains and its resulting impact on global trade, tax and customs duty considerations. In this regard, she highlighted the importance of pre-empting potential supply chain changes as a way to manage tax risks and ensuring compliance.

Second, the international tax reforms resulting from recent Base Erosion and Profit Shifting (BEPS) 2.0 developments. This included a deep dive into proposals on taxing the digital economy (Pillar 1) as well as the Global Anti Base Erosion proposal (Pillar 2) which is intended to set a minimum tax rate on profits derived by large multinational groups.

And third, her insights on the potential tax policy changes that business can expect during the COVID-19 recovery period, and what that meant for tax leaders navigating changing tax regulations by Governments during this uncertain period.

To round-off, Ms Foong responded to questions from the floor which included what are some actions businesses and governments could take to navigate the crisis.

If you are responsible for your organisation’s tax function and would like help solving your complex tax problems or advice on any of the related topics mentioned above, do not hesitate to reach out to our Financial Services and Tax advisory team at contactus@future-moves.com.