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.
A Highlight of Key Areas:
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