Bloomberg Tax Leadership Forum- Global Tax Reform – Are We There Yet?
Model rules for the Pillar Two – a global minimum tax of 15% – were released in December 2021. So far more than 40 countries have taken steps to enact the tax and others are working on the implementation.
However, Pillar One – containing redistribution of residual profits of large multinationals from their home countries to jurisdictions where they generate revenue – is proving to be a more difficult task as it requires that all countries adopt the rules in a consistent way and override their existing tax treaties. Negotiations at the OECD on a multilateral convention continue to face delays. Particularly, the uncertain position of the US could prove to be a main obstacle as many multinational corporations in scope are headquartered in the US.
Join Bloomberg Tax for a forward-looking discussion with a collection of esteemed speakers as they delve into the intricacies of the ongoing global tax reform. We will explore the hurdles and envision the ultimate outcomes as well as alternative scenarios.
Will the reform align with its initial objectives? View this virtual broadcast from the live event that took place in London, UK on June 4th to find out.
Topics include:
- Reflecting on the state of affairs of global tax reform
- Pillar One — Chances of compromise
- Pillar Two — Challenges and opportunities for multinational corporations
Speakers
Benjamin Angel
Director for Direct Taxation, Tax Coordination, Economic Analysis and Evaluation
European Commission
Benjamin Angel is currently director, direct taxation, tax coordination, and economic analysis and evaluation the Directorate General for Taxation and Customs Union of the European Commission (TAXUD), where he also served as director for indirect taxation. He has been director for the treasury and financial operations and director for the economies of the member states in the Directorate General for Economic and Financial Affairs (ECFIN). He has been a member of the cabinet of three European Commissioners for economic and monetary affairs (Yves-Thibault de Silguy, Pedro Solbes, and Joaquin Almunia) and has served as head of the unit ‘Financial Institutions and Stability Mechanisms’ in DG ECFIN. Benjamin has a Ph.D. in law, a Master of Business Administration with a specialization in finance, a Master of Public Administration with a specialization in economics, and a master’s degree in political science.
Lisa Fitzpatrick
President
Bloomberg Tax & Accounting
Lisa Fitzpatrick is president of Bloomberg Tax & Accounting. In this position, she is responsible for driving the growth of the company’s tax, accounting, and payroll products, including the Bloomberg Tax platform. Lisa joined the company in 2008 as director of marketing for the Tax & Accounting division, where she led product management and marketing efforts for a number of successful new product launches in state and international tax areas. In 2011, Lisa was appointed Bloomberg BNA’s first chief marketing officer, where she centralized and improved the effectiveness of Bloomberg BNA’s marketing efforts and led overall branding strategy and product positioning. She most recently served as vice president & general manager of Bloomberg Tax. Previously, Lisa held roles as vice president of marketing at MarketResearch.com and marketing director at Thompson Publishing Group, where she launched several new regulatory compliance products in the financial and health-care areas. Lisa founded and launched German Life magazine, a special interest magazine featuring German culture, history, travel, and German influences in North America. She began her career in circulation and advertising sales roles for special interest magazines. Fitzpatrick has a bachelor’s degree in Mathematics from the University of Maryland, Baltimore County and received an MBA in finance and marketing from the Robert H. Smith School of Business at the University of Maryland.
Anne Gordon
Vice President of International Tax Policy
National Foreign Trade Council
Anne Gordon is vice president for international tax policy at the National Foreign Trade Council (NFTC), the leading business association dedicated solely to advancing the interests of U.S. companies in international commerce. Anne previously served in the U.S. Senate as tax counsel to Senators Rob Portman and Todd Young of the Senate Finance Committee. She has also worked in the International Tax Services practice of PwC’s National Tax Services office, held several positions in the Department of the Treasury, and clerked at the U.S. Tax Court for Judges Tamara W. Ashford, Mark V. Holmes, Richard T. Morrison, and Robert A. Wherry, Jr. Anne represents the NFTC at international forums such as the OECD and the UN and is a frequent commenter on international tax issues in the press and as part of panel presentations. She also recently testified during a House Ways and Means Committee Hearing on the Inclusive Framework. She holds a B.A. and M.P.P. from The George Washington University. She received her J.D. from Boston College Law School and her LL.M. in taxation with a certificate in international taxation from Georgetown University Law Center.
Holly Hanley
Senior Solutions Consultant
Bloomberg Tax
Holly is a Senior Solutions Consultant who supports the Bloomberg Tax Product. She has been with Bloomberg Tax for 20+ years in various roles including product development. Holly is focused currently on providing industry, business, and product expertise so our clients better understand how Bloomberg Tax solutions can help solve business problems.
Julie Joy
Senior Fellow
Bloomberg Tax
Julie Joy is a former director in the transfer pricing practice of Deloitte Tax LLP, most recently managing the Carolinas transfer pricing practice. She has extensive experience assisting clients with international and multistate projects involving transfer pricing planning, documentation, and audit defense. Julie has 25 years of public accounting experience, of which 18 were devoted exclusively to transfer pricing. Julie received her BBA in Accounting from the University of Wisconsin-Eau Claire and her MST in Taxation from American University.
Maria Menezes
Practice Lead, International Tax
Bloomberg Tax
Maria Menezes is a practice lead for Bloomberg Tax and Accounting on the International Tax team. Maria has been with Bloomberg Tax for eight years, working across treaties, VAT, and direct tax, with a focus on developing content and author management. Previously, she spent 10 years in publishing focusing on finance and VAT.
Dr. Kunka Petkova
Advisor
International Taxation, German Ministry of Finance
Dr. Kunka Petkova, senior adviser at the German Federal Ministry of Finance, leads the OECD’s two-pillar solution addressing tax challenges arising from the digitalization of the economy. She also coordinates the tax-related topics for the G7 and G20 meetings. Kunka earned her Ph.D. in international business taxation from Vienna University of Economics and Business, the University of California, Berkeley, and the Saïd Business School, University of Oxford. Her research focuses on public economics and international business taxation. Prior to this, Kunka graduated from the University of Mannheim, Germany, with a Bachelor of Science in economics and a minor in business administration, and from the Goethe University in Frankfurt with a Master of Science in international economics and economic policy. During her studies, Kunka worked as a teaching and research associate as well as a liaison officer for finance and economic planning ministers and representatives of the multilateral development bank community. Her previous employers also include Mercedes-Benz, PwC, and Deutsche Bank.
Timothy Power
Chair
Committee on Fiscal Affairs, OECD
Timothy Power is the deputy director for business and international tax in His Majesty's Treasury of the United Kingdom. On December 18, 2023, he was elected as the chair of the OECD’s Committee on Fiscal Affairs (CFA). Timothy also serves as co-chair of the OECD/G20 Inclusive Framework on BEPS, alongside Ms. Marlene Nembhard-Parker of Jamaica. At HM Treasury, Timothy and his team are primarily responsible for corporation tax, with responsibilities spanning tax base design, base protection measures, transfer pricing, and tax treaties. Additionally, they manage other taxes on incorporated businesses and those specific to the financial sector. Timothy has significant experience representing the United Kingdom in multilateral discussions within the OECD, starting with the origins of the Base Erosion and Profit Shifting (BEPS) project in 2013. Notably, he has had long-standing involvement in the Steering Group of the OECD/G20 Inclusive Framework on BEPS. More recently, he served as co-chair of the Task Force for the Digital Economy, including finalizing the Multilateral Convention (MLC) to implement Amount A of Pillar One – a key component of the Two-Pillar Solution to address the tax challenges arising from the digitalization of the economy.
Achim Pross
Deputy Director
Center for Tax Policy and Administration, OECD
Achim Pross is deputy director within the OECD's Centre for Tax Policy and Administration (CTPA). He is responsible for several key outputs, including the Standard for Automatic Exchange of Financial Account Information in Tax Matters (Common Reporting Standard or CRS,) the OECD's work addressing tax challenges arising from the digitalization of the economy, many BEPS actions, work on tax administration and tax certainty, and on countering tax crimes and other financial crimes. He joined the OECD in 2001. Prior to joining the OECD, he worked in the tax department of a large U.S. law firm in Washington D.C., Paris, and London. Previously he was an assistant at Munich University's Research Centre for Foreign and International Tax and Financial Law. Achim is a lawyer by background. He received his legal training at the University of Munich, the London School of Economics, and Georgetown Law Centre, Washington D.C. He holds a Ph.D. (summa cum laude) in international taxation and was the winner of the International Fiscal Association's Mitchell B. Carroll Prize in 1997.
James Ross
Partner
Taylor Wessing
James Ross advises on a broad range of tax matters, with a particular focus on cross-border work. His practice encompasses both advisory and transactional matters, and he works with clients ranging from large multinationals, private equity funds, privately held companies and family offices. James advises on the structuring and negotiation of M&A transactions involving corporates and private equity funds. Most of his work is international in nature, and he has particular experience of advising US-based clients on the structuring of acquisitions and inward investments in the UK and Europe. James has extensive experience of advising on corporate restructuring matters, including financing and intellectual property holding structures, and assists clients in relation to tax authority enquiries and audits. He also has experience of delivering business tax advice to private clients and family offices. Clients have particularly noted James's expertise in international tax matters, and value his responsiveness and clear advice.
Dr. Markus Schneider
International Tax Director
Bayer AG
Markus Schneider is a chartered tax advisor and is part of the Global Tax Group of Bayer, currently assuming responsibility for the Transfer Pricing Controversy practice. Before joining Bayer, Markus advised clients from a range of industries in a leading German tax law firm. In 2015, Markus obtained a Ph.D. in transfer pricing risk management. His focus is on transfer pricing controversy topics, especially preventive risk management and dispute resolution. Markus publishes articles on topics of international tax law and is a speaker at conferences. He is also a lecturer at Siegen University in International Tax Law.
Claire Tarrant
Practice Lead, International Tax
Bloomberg Tax
Claire Tarrant is a practice lead for Bloomberg Tax and Accounting, focusing on international tax developments. Claire spent twelve years in the international corporate tax consulting arena at two of the Big Four auditing and tax firms. She also spent seven years within the inhouse international tax department of a UK-headquartered multinational pharmaceutical company with a significant worldwide footprint. Claire has a B.A., LLB, and B COM from Rhodes University and a Higher Diploma in international tax from the University of the Witwatersrand.