Description

(L-R) Ms Barbara Voskamp, Ms Ang Hwee Huang, Associate Professor Stephen Phua & Professor Kees van Raad

On 13 February the OECD outlined three policy options for addressing the tax challenges posed by the increasing digitalization of the economy. In addition, it issued a surprising global anti‐base erosion proposal, effectively suggesting a minimum tax on the global profits of multinational enterprises. Both sets of proposals will be discussed during this seminar.

The three Policy options presented by the OECD in its Public Consultation Document for dealing with a digitized economy were developed clearly to stimulate the international debate and not to present ready proposals for implementation. Most of the measures presented in the consultation paper would have a broad impact, affecting companies beyond the taxation of digital services. The response received by OECD was overwhelming: in total close to 200 firms, institutions, associations, individuals, etc., sent in a few thousand pages of comments and suggestions.  The anti‐base erosion proposals are presented as dealing with `remaining BEPS concerns’. In fact, they go way beyond the issues covered by the 15 BEPS Action reports and aim at reducing profit shifting to entities with little or no substance in low‐tax jurisdictions. To that end an `income inclusion rule´ is presented along with a `tax on base eroding payments´. The OECD will prepare on the basis of its proposals and the input received and discussed in March 2019 in Paris, a report that will be discussed at the G20 meeting in Osaka.

About The Speaker & Panelists

Kees van Raad is Professor of International Tax Law at the University of Leiden and of counsel to Loyens & Loeff, a Netherlands‐based internationally active (tax) law firm. He is also Chairman of the International Tax Center Leiden and Director of its Adv LLM Program in International Tax Law. He is a member of IBFD’s Board of Trustees, past Chairman (2006‐2012) of the Executive Board of the European Association of Tax Law Professors and a past member (2003‐2015) of the Supervisory Board of the Max Planck Institute for Tax Law and Public Finance in Munich, Germany.

Ms Barbara Voskamp is Partner ASEAN heading up the Singapore office and responsible for the ASEAN region. Barbara is admitted to the Dutch Bar and a member of the Dutch Association of Tax Advisors (NOB).  She is specialized in international tax and a registered foreign lawyer in Singapore since 2006, advising international corporate clients on the structuring of their cross border investments. Barbara frequently lectures on international tax at, amongst others, the Singapore Management University. She has been on the board of the Dutch Chamber of Commerce in Singapore and the Malaysian Dutch Business Council in Kuala Lumpur, is active in the regional trade committee of the European Chamber of Commerce in Singapore and currently a member of the executive board of the International Fiscal Association (IFA), Singapore branch.

Associate Professor Stephen Phua teaches Income Tax, Goods and Services Tax, Corporate Taxation, International Tax and Business & Finance for Lawyers in the Faculty of Law, National University of Singapore. He is Head (Tax) at the EW Barker Centre for Law and Business. Currently, he is a member of the Income Tax Board of Review and a senior tax consultant at a local law firm. He is/has been a guest professor or visiting scholar in universities across Asia‐Pacific, Europe and the USA.

Ms Hwee Huang is currently the Vice President, Group Tax of Singapore Telecommunications Ltd. She has the overall responsibility for managing the tax matters across the Singtel group which is present in countries which spans across Australasia to the United States. Hwee Huang has extensive tax  experience  covering  high  technology  and  telecommunication industries. Prior to joining Singtel, she was the Senior Tax Director for Yahoo Asia Pacific, where she led the taxation role for more than 10 countries in Asia Pacific. Before joining Yahoo, Hwee Huang gained experience in the telecommunication industry having spent 10 years with Orange Business Services.