A conference delegate is responsible for not just learning, but to become self - aware and understand how they would account the needs of their organization, build core competencies and more importantly improve their professional lives.
The BEPS and GST Conference 2016, a brainchild of TransPrice was one such inventive enterprise that took place on 2nd September 2016 in Hilton International Airport Hotel, Mumbai. BEPS and GST being mutually exclusive topics on the outset, have a lot in common when it comes to making it a priority for both industry and tax authorities. Accordingly, the conference attracted industry - wide participation including top corporates across various industries of infrastructure, shipping, oil & gas, telecommunication, media and entertainment.
The opening remarks of the conference began with a well - hosted introduction from Vishal Thakkar, who ushered in the journey of BEPS from Bending Every Possible Structure (BEPS) to, figuratively speaking, Bringing Every Penny to Surface (BEPS), thereby literally addressing end-to-end BEPS. Mr. Uday Ved delved right into the moral issue of ‘fair share’ of paying taxes and provided a practical insight into tax avoidance strategies adopted by corporates. After starting off on a solicitous note, Akshay Kenkre took the podium and dived right into the 15 BEPS Action Plans proposed by the OECD and G20 countries. The key highlight being, understanding a simplified impact of mainly 12 Action Points that would have a realistic impact on our business models. Special emphasis was given on providing the suggestion/ solutions to address the tax challenges in the digital economy through the significant economic presence test, withholding tax and equalization levy. Further, an unprecedented analysis was performed to understand the business arrangements that exploit the different tax treatment in two country jurisdictions to produce a mismatch in tax outcomes.
At this point of briefing, esteemed speaker Mr. Uday Ved unveiled the official copy of ‘A Handbook on Base Erosion and Profit Shifting’ authored by Akshay Kenkre, much to the anticipation of several delegates at the conference
Overall the session accompanied with a GST session by Mr. Udayan Choksi and two panel discussions later in the day, particularly sought to address major developments on the international taxation and domestic taxation front in the form of CbC reporting, equalization levy, patent box regime, permanent establishment creation, India - Mauritius double tax treaty and understanding draft GST law respectively. The panel discussion engaged maximum participation where speakers spoke from their experience and perception of basic taxation topics.
The positive tone of the conference was continued till the end of the day where the conference agenda was organized around the theme i.e. ‘Changing Taxation Landscape’, along with several networking sessions and lively discussions.