Email the team to learn more about our upcoming summit and virtual event. Discover some of the key lessons learned from the summit sessions, the results of some of the surveys conducted during the sessions, as well as new opinion leaders based on key questions for the year, and let`s continue the discussion. In addition to the work of our regional tax and legal advisors, the center also supports clients in the region by: Join our Club Tax Whiz to receive more of these tax updates and even share/discuss your views. ðð1/4 lnkd.in/giHE9fY #kpmgtaxwhiz The KPMG Asia Pacific Tax & Legal Center includes tax and legal experts as well as a virtual network of specialists across KPMG`s tax and legal departments, including: Speakers at the summit discussed a range of tax and legal developments both globally and in the Asia-Pacific region in the current context of economic uncertainty. Even before the advent of COVID-19, global businesses were experiencing a wave of disruption caused by innovation, hyperconnectivity, urbanization, aging societies, and the rise of a global middle class. KPMG clients can attend summit meetings on demand During our 2021 Virtual Global Legal and Tax Summits, 5,000 business and tax leaders from 100 countries/jurisdictions came together to review emerging tax and business considerations. Learn about some of the challenges businesses face in the post-COVID era and look at opportunities for tax officials as tax departments strive to evolve for 2021 and beyond. Thank you to everyone who participated in this unique series of virtual summits. The 2021 KPMG Summit on Tax and Legal Developments in the Asia-Pacific Region has learned from the current and global economic disruptions, but at a time of accelerated change. The virtual nature of the summit itself symbolized the challenges and opportunities facing businesses in the region.
Catherine Light, KPMG at Singapore`s Head of Tax Technology, says tax departments have better tools to meet these requirements when face-to-face collaboration has been replaced primarily by virtual collaboration. Apps like Microsoft ® Teams now allow Teams ® to collaborate more effectively. The emerging economic strength of the Asia-Pacific region means that more and more companies are making business in the region a priority and, in many cases, the creation of regional centers. However, the diversity and complexity of the region presents many challenges and pitfalls for international companies, especially for the functioning of the different tax, legal and regulatory systems in the region. Despite COVID-19 and global economic disruptions, sentiment at the top was optimistic and speakers expressed optimism about the significant progress made in fiscal policy work, trade opportunities and economic development spurred by accelerating technological change. Access tax and legal experts and a virtual network of specialists for KPMG`s Asia-Pacific services. The center will help you break through the tax and legal complexities of operations and growth in this dynamic and diverse region, while identifying opportunities for your tax and legal functions to create significant business value. The upcoming Asia-Pacific #KPMG Virtual Legal Summit will explore emerging tax and trade considerations, highlight some of the challenges businesses face in the post-COVID era, and examine the positives and opportunities for tax leaders and their teams in developing tax services for 2021 and beyond.
This meeting of like-minded people will take place free of charge from February 2 to 4. Browse the event program and register with lnkd.in/g73gacU Contact us if you would like to have a discussion on tax or legal issues. A key feature of the international context is the changing regulatory climate. As Dean Rolfe, head of international tax in Asia Pacific at KPMG, noted, the rise of the digital economy and the global success of digital businesses have challenged governments to find ways to tax them. 5. Governments work together to strengthen taxation of multinational enterprises in the digital economy The shift to remote work underscores KPMG`s finding in its CEO Outlook Asia Pacific 2020 survey that talent risk is the biggest threat to businesses in the ASPAC region. Matthew Fenwick, a corporate tax partner at KPMG in Hong Kong (RAS), China, sees this as an opportunity to adapt and thrive by attracting and retaining top talent. It highlights a new challenge for tax officials who had already said “no” to a truly agile workforce. You need to focus on identifying risks and resolving compliance issues, especially in countries where there was no tax risk before.
For example, artificial intelligence (AI) is increasingly available to perform tax analysis. Tax departments must make the most of all these new tools to meet the growing demands of the new era. Offshoring gives way to “relocation” and “relocation”. Especially in the context of new “mega deals” such as the Regional Comprehensive Economic Partnership, companies need to think about adapting their supply chains to see how they can get the best value for money and serve their markets in the most agile way. In doing so, they must take into account how tax incentives, subsidies, and the business and customs environment (including tariffs and other restrictions) affect their activities. Head of Strategy and Growth, Global Legal Services and COO Asia Pacific, Tax and Legal KPMG International The current crisis has accelerated the technological change already underway and new technologies are creating a changing work and business environment. These new technologies will have a significant impact on tax work. Head of Data, Global Tax & Legal and Head of Global Indirect Tax Services Current perspectives on the latest tax developments around the world. Convalescence. Resilience. Reform. Malaysia`s 2022 budget proposals will be unveiled by the Finance Minister tomorrow afternoon, and KPMG tax experts will be on hand to provide live updates in our exclusive LinkedIn group called Tax Whiz Club.
Join the club today: lnkd.in/gJcxsRYc #Budget2022 #Bajet2022 The global reality of taxation requires both global conversations and action. As the world continues to network, discussions continue to intensify. Indeed, countries and territories, including those in the Asia-Pacific region, have made a firm commitment to it, but have not yet reached an agreement. Companies are advised to keep abreast of the progress of the BEPS project so that they can be completed with implementation. In the final interview conducted by Bill Thomas, President and CEO of KPMG Global, the main message was optimism based on technological advances and the resilience of the teams demonstrated over the past year during the pandemic. In a post-pandemic world, successful businesses will only survive if they are agile and close to their customers, consider more frugal consumption habits, collaborate more with their former competitors, and focus on safety and health, not to mention address the challenges of climate change. They have blind spots. Your team knows your blind spots. They won`t just tell you about your blind spots. They might tell you if you ask them.
So the next time you`re in a 1:1 meeting or team meeting, try these questions: “What`s one thing I`m doing that bothers you?” – “What do I keep doing that I shouldn`t do?” – “What`s a project I need to get into or out of?” – “What`s one thing, what do you need me that you don`t get?” Don`t expect them to respond on the spot. They should not have to. Ask them to think about it and share when they are ready. The risk is not to ask. The real risk is not knowing how to improve. #leadership #managment network of tax experts at the Ali Merchant KPMG Asia Pacific Tax & Legal Center brings together a wealth of local and regional experiences relevant to you and your business. The latest findings and insights related to BEPS in the Asia-Pacific region. 1. Requirements for tax services are increasing due to personnel changes Additional content will continue to be added, so visit this page regularly for more updates.
In response to increasing demands placed on them and technological advances from tax authorities, remote working, and increased expectations of what they can achieve with their new tools, their organizations` tax departments can present a strong business case for investing in new technologies. “Working from anywhere” raises a variety of questions regarding tax obligations and labor laws. What laws apply? Where does an employee pay taxes if they live abroad for a long time due to border restrictions related to the pandemic? Companies need to go beyond ad hoc measures and document the precautions they have taken due to government restrictions on managing COVID-19 for remote work.