25 October 2023 Tax Webinar on BEPS 2.0 Pillar Two Era
Oct 3, 2023
BEPS 2.0 Pillar Two Era: Overview of the new tax landscape and its impacts
The Organisation for Economic Co-operation and Development (OECD) Inclusive Framework has adopted a two-pillar solution to address challenges arising from the digitalization of the economy. Pillar Two introduces a global minimum Effective Tax Rate (ETR) for multinational groups with consolidated revenue over €750m. Several jurisdictions, including EU countries, UK, Japan, and South Korea, have already announced the implementation of GloBE rules and Domestic Top-up Tax of 15% in 2024 while Hong Kong and Singapore are expected to introduce the rules in 2025.
As the implementation of Pillar Two draws closer, it's crucial to understand how the Pillar Two rules work and their impacts as immediate actions could be required to prepare group structures, internal systems, and in-house finance and tax teams for this upcoming tax challenge. In this webinar, PwC specialists will introduce the key policies and latest developments in Pillar Two, share potential impacts through case studies, discuss the latest developments of Pillar Two digital tools, and provide guidance on how enterprises can prepare for the requirements and challenges of Pillar Two. Don’t miss this opportunity to stay ahead of the game.
Event highlights
· Overview of the Pillar Two rules and latest development
· Common Pillar Two issues and implications with real case sharing
· Suggested roadmap plan for the implementation of Pillar Two
Speakers
Flora Chan – Partner, Tax Services, PwC Hong Kong
Flora Chan is a Tax Partner in PwC Hong Kong’s BEPS taskforce. Flora has over 12 years experience providing Hong Kong tax advisory and controversy services, and Australian tax advisory services to conglomerates, listed and large private groups, local entities as well as charitable institutions. Flora specializes in the global minimum tax under BEPS 2.0, she has worked with multinational groups across different industries, including providing training to in-house teams, assisting with impact assessments, modelling, technical advice, mitigation planning, and operational enhancement.
Ivan Lam – Director, Tax Services, PwC Hong Kong
Ivan Lam is a Tax Director in PwC Hong Kong’s BEPS taskforce. Ivan has over 15 years of experience in tax and regulatory consulting services. Since 2021, Ivan had assisted 30+ MNC groups (covering financial services, property development, asset management, hi-tech, listing group and family office) to assess the BEPS 2.0 impact to the group and provided different solutions (e.g. corporate restructuring, value chain transformation, transfer pricing arrangement, etc) to the groups to minimize such impact. Ivan has also been providing BEPS 2.0 compliance support to these groups, such as provision of BEPS 2.0 training to the finance/tax personnel, preparation of BEPS 2.0 data input guidance, supporting ERP system upgrade, etc.
