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Elective sessions
Delegates can attend one of the following elective technical sessions on the afternoon of Thursday, 20 November.
Afternoon elective sessions
Managing a fast changing indirect tax environment
Indirect taxes
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As governments in the region look increasingly to indirect taxes for revenue raising, the regulatory environment will become more complex through both evolution and reform. How can global businesses keep ahead of the game and continue to manage indirect tax risk and governance issues effectively? Highlights of the session, include the results of the recent KPMG global survey of more than 500 businesses across 22 countries, which looks at attitudes to indirect taxes and which reveals that businesses now rank indirect tax compliance as a higher risk to the organization than direct tax compliance. We will also have Chris Murphy, KPMG Econtech Pty Ltd, who will describe his work with regional governments in modelling the impact of different tax policy changes and how this has influenced their indirect tax decision making. David Kuhne, Head of Tax at BAE Systems, Australia, will share his thoughts on approaches to best practice management of an indirect tax function.
Tax Partners from KPMG in China and India will provide insights on the emerging economic strength of these markets which continue to be priorities for regional and global businesses seeking growth opportunities, exploring the current indirect tax environment in these key jurisdictions. The linkages between indirect tax, customs and transfer pricing in managing the tax consequences of cross border trade will also be demonstrated by KPMG’s Regional leaders for Trade & Customs and Tax Efficient Supply Chain Management. |
What the growth of Sovereign Wealth Funds means for investors, financiers, and fund managers
International tax planning
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After the rapid growth of Private Equity (PE) in recent years, capital markets now face a new invasion of Sovereign Wealth Funds (SWFs), which the IMF has calculated will control over USD 10 trillion of investments by 2012, and even larger Government Pension Plans (GPPs). Together GPPs and SWFs will hold tens of trillions of dollars by 2012. Who are they, what do they invest in, what are their tax positions in investee and investor countries? How are they structured? What do fund managers need to do to attract them? How do they differ from PE funds? How do they compete with traditional investors? This session will be of interest to asset buyers, fund and corporate managers in receipt of this new wave of capital and all who want to understand why this new phenomenon has attracted both positive and adverse publicity in Western media. The session will include a fictional case study of an Asian SWF investing in Australia, China, Japan, and Singapore.
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Strategies and opportunities in the changing ASPAC transfer pricing environment
Transfer Pricing
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In the past five years multinationals have changed many operational and structural aspects of their businesses, including the shifting of manufacturing operations to China or Vietnam and the centralization of back office functions. The simultaneous explosion of new transfer pricing regulations and increased enforcement in Asia raises issues about how to adapt transfer pricing strategies to the pressures of operational and regulatory change. The issues will be explored with the help of an extended case study of a multinational with a supply chain stretching across various Asia-Pacific countries that’s seeking to restructure for commercial reasons tax effectively. Options, opportunities and issues will be explored from various perspectives, including tax risk mitigation. |
The essence of a leading tax function
Tax management
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Tax strategy and governance are boardroom issues which increase demands on and expectations of tax departments, but in many cases tax strategy and governance issues have yet to be reflected in tax management structures, policies, and processes. This session will explore the issues that arise when developing a leading tax function, highlight emerging best practice and what this means from a regional perspective, using real examples. |
Emerging tax issues in the funds sector
Financial services
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The funds industry in the Asia-Pacific region has expanded strongly in recent years. Tax authorities in the Asia-Pacific are becoming increasingly vigilant in monitoring tax planning strategies adopted by foreign investors, and the tax treatment of the gains and returns derived from investment of foreign capital in certain domestic assets and local capital markets. Two key issues have emerged; whether an investment fund has sufficient substance to claim the benefits of double tax treaties, and what is the appropriate remuneration of various fund-specific functions under transfer pricing rules. KPMG’s Fund and Transfer Pricing professionals will address these issues as they apply in key Asia-Pacific markets. |
The Asia-Pacific Energy and Natural Resources Tax Forum
Energy and natural resources
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The Asia-Pacific region faces immense challenges in obtaining and allocating natural resources and meeting a growing energy demand. The session will look at the needs of buyers, and how they can structure themselves to ensure a secure supply of resources, and identify opportunities for resource sellers. Tax implications throughout the supply chain will be explored. Resource tax trends for Singapore, China, India, Australia, Malaysia, and Indonesia will be highlighted, with an emphasis on the inter-governmental actions throughout the region that are playing an important role in shaping policy. |
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