National Transfer Pricing Conference. 8 August 2018 Four Seasons Hotel Sydney. 6.5 CPD hours

Transcription

1 National Transfer Pricing Conference 8 August 2018 Four Seasons Hotel Sydney 6.5 CPD hours

2 Welcome On behalf of the Organising Committee, we would like to welcome you to The Tax Institute s National Transfer Pricing Conference, which will be held at the Four Seasons Hotel in Sydney on 8 August Transfer pricing continues to be a topical issue for taxpayers and revenue authorities in Australia and around the world. The OECD s base erosion and profit shifting (BEPS) project, and Australia s implementation of many of its recommendations, highlight the importance of transfer pricing to the compliance and governance frameworks of affected taxpayers. The conference will include addresses from thought leaders from both the profession and the Australian Taxation Office, cover difficult technical issues on the migration of intellectual property and the application of Div 815 following Chevron, and highlight what transfer pricing risks boards must consider in discharging their directors duties. It is also important to recognise that transfer pricing is not just the domain of large multinational enterprises. It impacts Australian-headquartered groups expanding overseas. It also affects Australian subsidiaries of global groups who often have limited resources to deal with detailed transfer pricing issues and documentation requirements. This conference therefore contains a separate stream of sessions that will explore the issues those taxpayers face, including some practical sessions on transfer pricing documentation. Networking drinks at the conclusion of the conference will give delegates and speakers an opportunity to share thoughts and catch up with fellow tax colleagues from the professional firms, corporates and the Australian Taxation Office. We look forward to seeing you in Sydney in August. Thank you The Tax Institute gratefully acknowledges the generous assistance of members of the Organising Committee: Eddy Moussa, CTA, PwC (Co-chair of Conference Organising Committee) Jerome Tse, CTA, King & Wood Mallesons (Co-chair of Conference Organising Committee) Denise Honey, CTA, Pitcher Partners Glen Hutchings, FTI, KPMG Mariana Von Lucken, CTA, HLB Mann Judd Early bird offer Register on or before Wednesday 11 July 2018 to save! 2 THE TAX INSTITUTE National Transfer Pricing Conference

3 Technical program Day 1 Wednesday, 8 August 2018 Time Session Presenter am am Registration Welcome and Opening Address Overview of Transfer Pricing This session will cover the current approach of the tax administration to transfer pricing matters in the context of audits and risk reviews and go-forward compliance. Mark Konza Australian Taxation Office am am am Session 1: CBC Reporting/Smarter Data What is the ATO going to do with the huge volume of information. Morning tea Session 2A: Transfer Pricing Defined/Legal Questions on Interpretation of 815A 815B The decision in Chevron and the way the modernised transfer pricing provisions have been written to generate a number of legal and interpretive questions. This session will work through the areas of uncertainty and how these matters might be considered by future court decisions to assist taxpayers and their advisers in making decisions on assessing its transfer pricing risk. Aileen O Carroll Pitcher Partners Daniel McInerney, CTA Victorian Bar Caroline Walker EY OR Session 2B: Simplified Transfer Pricing Documentation Rules This session will explore: Purpose and history of simplified transfer pricing documentation rules (STPDR) in Australia and OECD countries The eight options explored in Practical Compliance Guideline PCG 2017/2 Implications of applying the STPDR including disclosure in tax return and risk to ATO review/ penalties. Lauren Whelan HLB Mann Judd pm (Please see next page for concurrent session option) Session 3A: Correct Characterisation and Reconstruction under 815B and Part IVA Incorrectly characterising international related party dealings and potentially falling foul of general anti-avoidance laws represent some of the largest areas for ATO disputes. This session will analyse: The most frequent areas where international related party dealings are being challenged by the ATO in transfer pricing cases How 815-B and recent changes to the OECD s transfer pricing guidelines address the characterisation and reconstruction of international related party dealings Trends in Part IVA cases and how to manage anti-avoidance measures for international related party dealings In the planning phase and post-implementation, what steps companies should be taking to document and support their tax governance. Damian Preshaw, CTA Damian Preshaw Consulting THE TAX INSTITUTE National Transfer Pricing Conference 3

4 Technical program Day 1 Wednesday, 8 August 2018 continued Time Session Presenter pm pm pm pm pm Session 3B: Basics of Transfer Pricing Documentation This session will discuss: The objective of transfer pricing documentation (TPD) History of TPD in Australia: Div 13 v Div 815-B and 815-C Steps in preparing TPD: Analysis of global group and local entity, and review of related party dealings, including market and industry overview Functional and risk analysis Selection of most appropriate transfer pricing methodology Comparative benchmarking study Implications of holding TPD including disclosure in tax return and risk to ATO review/ penalties. Lunch Session 4: Transfer Pricing Risks What Do Boards Need to Know? The ATO have embraced the increasingly global view that tax risk management should be a part of good corporate governance. The presence and testing of a tax internal control frameworks are becoming an integral part of the risk-assessment protocols used by tax authorities. The high levels of ATO scrutiny regarding transfer pricing matters has increased the importance of building transfer pricing into tax governance frameworks. This session looks to provide insight into the ATO s current approach to tax risk governance. The panels members experience will provide insight into implementing tax governance frameworks, addressing ATO governance questions within Justified Trust and Streamlined Assurance reviews as well as effective governance processes required post an ATO review or audit in order to ensure boards are kept appropriately informed. Afternoon tea Session 5: Practical Compliance Guide for Financing [and Other Key ATO Risks] International related party financing is one of the ATO s largest tax risks with significant resources and investment in targeting transfer mispricing for loans. This session will provide: Discussion of the legacy impact of the Chevron case on community concerns and the ATO s reaction Summary of the ATO s recently released Practical Compliance Guideline on loans and risk evaluation and narrative from the ATO Finance Cluster Key steps to consider when planning for loans and what to do if you are in the red risk zone. Ashish Dave Duff & Phelps Christine Cornish Pitcher Partners Chris Vanderkley, CTA PwC Sarah Dunn, CTA KPMG Shahzeb Panhwar Australian Taxation Office Danielle Donovan EY pm 5.00pm Session 6: IP Migration Issues Dovetail into the DPT Whether a start-up or in a growth phase, intangible property is becoming more and more difficult to deal with in a global context. This session will examine: Commercial and supportable ways companies are leveraging intangible property in growing their offshore businesses through disposal or licence arrangements How transfer pricing outcomes can incorrectly misprice the presence of intangible property in the Australian sales, distribution or marketing businesses Use of contract R&D arrangements and congruence with R&D concessions Where the ATO is at in managing intangible property risk. Conference closing address and networking drinks Jonathan Malone, CTA PwC

5 Presenter profiles Christine Cornish is a Director in the Tax Consulting division of Pitcher Partners Melbourne. Christine has over 13 years experience as a transfer pricing advisor and as an in house specialist at NAB and ANZ. Christine s career started as a transfer pricing specialist and expanded to include tax governance during her role at NAB. Christine now has significant experience in tax governance reviews, gap analysis and tax control framework implementation. She has engaging with the ATO in the governance and transfer pricing aspects of Justified Trust Reviews and Streamlined Assurance Reviews. Christine has detailed knowledge of the ATO s expectations in the area of transfer pricing and tax governance as well as how to assist clients in uplifting their governance frameworks to meet those expectations. Ashish Dave joined Duff & Phelps in May 2017 from Quantera Global. He is a director in the Transfer Pricing practice based in Sydney. Ashish has more than 15 years experience in international tax, specialising in transfer pricing. He has worked in a variety of locations such as Australia and Asia, including India. As a transfer pricing specialist, Ashish has advised a wide range of clients in preparing transfer pricing policies, designing transfer pricing systems, and documentation covering master file and local file. Sarah Dunn,CTA, leads KPMG Law s Sydney Tax Dispute Resolution and Controversy practice. Sarah joined KPMG Law in 2013 after having been a litigation partner at Freehills for approximately 12 years. Sarah has extensive experience in dealing with revenue authorities and advising clients across a broad range of industries at all stages of tax disputes, including audits and risk reviews, through to alternative dispute resolution and contested proceedings in the Supreme Court, Federal Court and the Administrative Appeals Tribunal. Sarah has enjoyed considerable success in resolving a large number of significant and complex revenue disputes without the need for litigation, including transfer pricing and Part IVA matters. Mark Konza is the Deputy Commissioner responsible for international taxation in the ATO. He leads the development of ATO strategy in response to the base erosion and profit shifting, offshore tax evasion and foreign investment risks. He represents Australia at various OECD forums, particularly the Taskforce on the Digital Economy. Transfer pricing affects businesses large and small. This unique program brings together experts from the profession and the ATO for a comprehensive, practical look at compliance and risk issues. Jonathan Malone, CTA, is a Partner in PwC s Global Tax Practice with over 17 years experience as a corporate tax adviser, specialising in international tax, M&A and cross-border tax structuring. Jonathan was seconded to the Federal Treasury in 2015 and 2016 and worked with the BEPS unit on Australia s multinational anti-avoidance laws. He also represented Treasury at the OECD working party s six meetings (focused on transfer pricing) throughout this period. Daniel McInerney, CTA, is a taxation barrister at the Victorian Bar known for his strong technical and advisory knowledge. He has appeared in a number of complex taxation cases addressing issues such as transfer pricing, international corporate structuring, consolidations and Part IVA. Daniel works closely with Australia s leading tax silks, multinational mining, mining services and financial services companies. He has an extensive advisory practice in relation to structuring as well as settling taxation disputes with the ATO. Daniel is regularly named as a leading junior counsel in Doyles Guide s list of Leading Tax Barristers. Aileen O Carroll is a Director in the Tax Consulting division of Pitcher Partners Melbourne and heads up the firm s transfer pricing service offering. Aileen has over 14 years consulting experience providing advice on a broad range of transfer pricing matters to clients across a range of different industries. Prior to joining Pitcher Partners in 2016, Aileen worked with National Australia Bank in assisting them to implement OECD Action 13 Country by Country Reporting. During this time Aileen established an Action 13 working group with industry peers and also consulted regularly with the ATO on CbC which included development of the Australian Local File. Shahzeb Panhwar is an Assistant Commissioner in the Public Groups & International area of the ATO and has responsibility for issues relating to related party financing and thin capitalisation. Shahzeb also heads up the Operations area for the Docklands site where he leads a team responsible for taxpayer engagement including audits, reviews, APAs and other assurance products. Shahzeb joined the ATO in 2014 after 8 years with one of the Big 4 accounting firms. There, Shahzeb specialised in assisting clients in relation to their transfer pricing matters. THE TAX INSTITUTE National Transfer Pricing Conference 5

6 Presenter profiles continued Damian Preshaw, CTA, is a transfer pricing specialist with more than 25 years experience in both the private sector and with the ATO, and consults to accounting firms and law firms. Prior to establishing Damian Preshaw Consulting Pty Ltd in October 2015, Damian was a director in KPMG s Transfer Pricing Services Group in Melbourne for 12 years. In this capacity, Damian advised a wide variety of multinational clients on transfer pricing and profit attribution issues with a special focus on dispute resolution, financial services, financial transactions and business restructuring. Chris Vanderkley, CTA, recently joined PwC as Special Counsel specialising in tax governance/transparency and controversy matters for corporate taxpayers. Prior to that, Chris worked at GE for 20 plus years in numerous roles, including Chairman of all GE Boards, CFO and Asia Pacific Head of Tax. Chris was a member of the CTA Executive Committee for eight years and continues to act as an adviser to the Board of Tax. Caroline Walker is a Partner in EY s International Tax team specialising in transfer pricing, with over 18 years experience. Located in Perth, Caroline has extensive experience in advising a variety of clients on transfer pricing policy development, ATO risk reviews, audits and advance pricing arrangement negotiations. Lauren Whelan is a supervisor who practises in tax compliance and consulting. She joined HLB Mann Judd as a graduate in Lauren has extensive experience in corporate taxation, advising businesses (both publicly and privately owned) across a range of industries including property, waste management and freight forwarding with a strong interest in property and infrastructure investments both onshore and offshore in the context of asset class portfolio management and investment strategies of large superannuation funds. Jessica has over ten years of experience working closely with Australia s large industry and retail superannuation funds, banking and managed investment groups. Jessica has been actively involved with the recent superannuation tax reforms including Treasury consultation processes and making submissions on behalf of the industry. Join the conversation facebook.com/thetaxinstitute twitter.com/taxinstituteoz linkedin.com/company/the-tax-institute blog.taxinstitute.com.au 6 THE TAX INSTITUTE National Transfer Pricing Conference

7 Event information Registration inclusions Online access to presentations and technical papers Morning/ Afternoon tea/ Conference lunch Networking function How to register A Full convention registration This registration option entitles one delegate to attend the entire event. Register online or complete the form included in this brochure. Register online at taxinstitute.com.au/tp18 Discounts Early bird registration All registrations received and paid for on or prior to Wednesday 11 July 2018 will be entitled to an early bird discount. Group discount Purchase four full registrations and receive the fifth one free. All attendees must be from the same firm and all registration forms must be submitted together. Confirmation of registration A confirmation will be sent via . Please note you will receive two separate s in the form of a confirmation and tax invoice. CPD accreditation Attendance at the conference counts for 6.5 hours Continuing Professional Development accreditation with The Tax Institute. Delegate list A delegate list will be included in The Tax Institute CPD app to assist with networking. Please indicate on the registration form if you do not want your details included on the list. Dress code Business casual attire is suitable for the duration of the conference program, including the conference dinner. Paperless materials To assist in reducing the environmental impact, the standard registration option will only provide electronic access to materials. The Tax Institute CPD app The Tax Institute CPD app will be accessible for delegates to download available technical materials in the days prior to the event commencement. The app will contain session and speaker information, the delegate list and available technical materials. Delegates will receive instructions via detailing how to download and access materials. Alteration and cancellation policy The Tax Institute reserves the right to alter, amend or cancel all or any of the arrangements contained in the program. It is a condition of acceptance of registration that an administration fee of 20% of the registration fee will be charged for cancellation. No refund will be given for cancellations received within five working days of the event. A replacement may be nominated however, the replacement is only valid for the 2018 Financial Services Taxation Conference. If the replacement is not a member, the non-member registration fee will apply. CPD hours will be allocated to the designated attendee. The Tax Institute cannot accept responsibility for delegates late transport arrivals or non-arrivals due to delays. Special dietary requirements Please indicate any special dietary requirements on the registration form. For further information regarding this event, please contact the Events Team on or nationalevents@taxinstitute.com.au For registration enquiries, please contact eventregistrations@taxinstitute.com.au THE TAX INSTITUTE National Transfer Pricing Conference 7

8 Venue Four Seasons Hotel 199 George St, Sydney The National Transfer Pricing Conference will be hosted at the stunning Four Seasons Hotel in Sydney, located at 199 George Street, Sydney, right on the harbour foreshore. To book accommodation at the Four Seasons, visit Getting there Sydney Domestic Airport is an approximately 30-minute drive from the hotel and serves all major airlines. Circular Quay Station is the closest railway station to Four Seasons and is approximately a six-minute walk from the hotel. Networking function Join your colleagues and conference speakers at the networking function, which will be held directly following the last session, from 5.00pm onwards. The networking function is included in the conference registration fee for delegates. Dress code Smart casual attire is suitable for the duration of the program. Local climate During the month of August, Sydney experiences daytime temperatures of around 18 C. Lead the way in tax There is no time like the present to join Australia s premier tax body and take advantage of the special new member introductory offer. For an additional $320 on the member registration fee you will receive membership until June Member benefits include: Taxation in Australia journal TaxVine e-newsletter CPD event discounts Publications and tax product discounts Business Alliance Partner discounts. Become a member See registration form for details. 8 THE TAX INSTITUTE National Transfer Pricing Conference

9 National Transfer Pricing Conference Registration form National Transfer Pricing Conference WD A tax invoice and confirmation letter will be sent on receipt of your registration. Please photocopy for additional delegates and retain original copy for your records. All prices quoted are in Australian dollars and include GST where applicable. ABN Registration Full conference Early bird registration Received on or before 11 July 2018 Standard registration Received after 11 July 2018 Member New member* Non-member $675 $995 $1,095 $825 $1,145 $1,245 I acknowledge that I will receive electronic access to the available papers and presentations through The Tax Institute CPD app. Dietary requirements: *EVENT AND MEMBERSHIP OFFER There is no better time than right now for non-members to take up membership! Register at the Member rate + add on $320 for Membership and receive member benefits through to 30 June All new members are eligible to upgrade their membership level at no additional cost by providing the appropriate documentation when applying within the initial membership subscription period. I hereby apply for membership of The Tax Institute and declare that I am a person of good fame, integrity and character and agree to be bound by the Constitution of The Tax Institute. Further information available at taxinstitute.com.au Signature: Promotional code: Date of signature: DD/MM/YYYY 2 Delegate contact details Member no.: If your member details are up-to-date, you can skip this section. Title: Mr Mrs Miss Ms Other (please specify) Date of birth: DD/MM/YYYY First name: Last name: Position: Company: Address: Suburb: State: Postcode: Telephone: Fax: Mobile: Please tick this box if you do not wish your name to be included on the delegate list provided to all attendees for networking purposes. 3 Breakout session selection Please tick the breakout sessions you would like to attend during the conference: Wednesday 8 August am Session 2A Session 2B 11.30am 12.30pm Session 3A Session 3B

10 4 Networking function The networking function is INCLUDED in the registration fee for delegates attending the full conference. Wednesday 8 August at Four Seasons Hotel, Sydney Yes, I WILL be attending the networking function OR No, I WILL NOT be attending the networking function 5 Payment method Cheque payable to The Tax Institute (in Australian dollars) Credit card $ Card type: AMEX Visa MasterCard Diners Expiry date: MM/ Y Y Name on card: Card no.: Cardholder s signature: For our refund, cancellation and replacement policy visit taxinstitute.com.au/professional-development/event-policy Membership and education program promotion I am interested in becoming a member of The Tax Institute. Please send me further details. I am interested in learning more about The Tax Institute s education program. Please contact me. We take your privacy seriously, and our policy can be viewed at taxinstitute.com.au/go/footer/privacy. Marketing and business alliance partner exclusions I no longer wish to provide my contact details to The Tax Institute s contracted business partners. I no longer wish to receive marketing correspondence from The Tax Institute. Collection notice The Tax Institute (TTI) complies with its obligations under the Privacy Act 1988 (Cth) with respect to how it handles personal information. TTI collects, uses, holds and discloses your personal information (including sensitive information, such as health information) for a range of purposes, such as administrative purposes relating to membership of TTI and TTI s courses (including assessment of eligibility and providing courses), compliance with Government and statutory requirements, provision of information relating to TTI s services and member benefits and to conduct market research. If you do not provide the personal information requested by TTI, it may not be able to provide its services to you, such as assessment of your course enrolment application. TTI does not disclose criminal record information to third parties. TTI usually discloses your personal information to entities such as your sponsoring employer (with respect to your course records and results), The Tax Practitioners Board, TTI s business partners for marketing purposes, IT companies and other companies who provide administrative and other services to TTI and government bodies, such as the Tertiary Education and Quality Standards Agency. TTI may disclose personal information to overseas recipients in countries such as the United States of America and India. For further information on how TTI collects, uses, holds and discloses personal information, please see its privacy policy at The Privacy Policy also contains information on how to request access to or correction of your personal information and how to make a complaint about a breach of privacy. By submitting your application to TTI, you confirm that you have read TTIs Privacy Policy and you consent to your personal information being collected, used and held by TTI and disclosed to third parties as set out in this notice and in accordance with TTI s Privacy Policy. If you do not want your personal information to be used by TTI or disclosed to third parties, for the purpose of direct marketing, please contact us in writing at membership@taxinstitute.com.au. TO REGISTER 0518NAT_05/18 Online taxinstitute.com.au/tp18 Mail GPO Box 1694 Sydney, NSW eventregistrations@taxinstitute.com.au Fax

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