nexia tax update mike adams nexia tax director nexia international tax conference 2014 hong kong
TRANSCRIPT
NEXIA TAX UPDATE
Mike AdamsNexia Tax Director
Nexia International Tax Conference 2014Hong Kong
NEXIA TAX UPDATE
• Results
• New Developments
• Future Events
• Ongoing Support
NEXIA TAX UPDATE
Nexia International Tax Conference 2014 - Hong Kong
NEXIA TAX UPDATE
• Results
• New Developments
• Future Events
• Ongoing Support
Nexia International Tax Conference 2014 - Hong Kong
NEXIA TAX UPDATE
NEXIA TAX UPDATE - Results for Tax
• Rankings in the International Accounting Bulletin World Survey
• 3rd GMTS Conference – Bucharest, Romania
• 1st Nexia tax training course – Leiden, The Netherlands
• Regional tax group meetings
Nexia International Tax Conference 2014 - Hong Kong
RESULTS
NEXIA TAX UPDATE - Results for Tax
Nexia International Tax Conference 2014 - Hong Kong
RESULTS
Service line split: Tax (US$m)1 PwC 8,175.0
2 EY 6,946.0
3 Deloitte 6,100.0
4 KPMG 4,970.0
5 BDO 1,295.0
6 RSM 1,095.8
7 Grant Thornton International
925.0
8 Baker Tilly International 844.7
9 Nexia International 788.2
10 Crowe Horwarth 743.5
NEXIA TAX UPDATE - Results for Tax
Nexia International Tax Conference 2014 - Hong Kong
RESULTS
Total Revenue (US$m)1 Deloitte 32,400.0
2 PwC 32,088.0
3 EY 25,892.0
4 KPMG 23,420.0
5 BDO 6,453.0
6 Grant Thornton International
4,519.0
7 RSM 3,714.1
8 Baker Tilly International 3,404.2
9 Crowe Horwath 3,168.2
10 Nexia International 2,918.0
11 Moore Stevens International 2,682.1
NEXIA TAX UPDATE - Results for Tax
Nexia International Tax Conference 2014 - Hong Kong
RESULTS
Service line split: Audit and Accounting (US$m)1 PwC 14,760.0
2 Deloitte 13,100.0
3 EY 10,936.0
4 KPMG 10,210.0
5 BDO 3,829.2
6 Grant Thornton International
1,958.0
7 RSM 1,861.2
8 Baker Tilly International 1,700.9
9 Crowe Horwath 1,574.5
10 Moore Stevens 1,394.6
11 PKF 1,337.1
12 Nexia International 1,297.7
13 Kreston International 917.2
NEXIA TAX UPDATE - Results for Tax
Nexia International Tax Conference 2014 - Hong Kong
RESULTS
Service line split: “Other” (US$m)1 Deloitte 13,200.0
2 PwC 9,153.0
3 KPMG 8,240.0
4 EY 7,947.0
5 Grant Thornton International
1,636.0
6 BDO 1,328.7
7 Baker Tilly International 858.6
8 Nexia International 832.0
9 Crowe Harworth 805.9
10 RSM 757.0
NEXIA TAX UPDATE - Results for Tax
• Rankings in the International Accounting Bulleting World Survey
• 3rd GMTS Conference – Bucharest, Romania
• 1st Nexia tax training course – Leiden, The Netherlands
• Regional tax group meetings
Nexia International Tax Conference 2014 - Hong Kong
RESULTS
NEXIA TAX UPDATE - Results for Tax
• Rankings in the International Accounting Bulleting World Survey
• 3rd GMTS Conference – Bucharest, Romania
• 1st Nexia tax training course – Leiden, The Netherlands
• Regional tax group meetings
Nexia International Tax Conference 2014 - Hong Kong
RESULTS
NEXIA TAX UPDATE - Results for Tax
• Rankings in the International Accounting Bulleting World Survey
• 3rd GMTS Conference – Bucharest, Romania
• 1st Nexia tax training course – Leiden, The Netherlands
• Regional tax group meetings
Nexia International Tax Conference 2014 - Hong Kong
RESULTS
NEXIA TAX UPDATE
• Results
• New Developments
• Future Events
• Ongoing Support
Nexia International Tax Conference 2014 - Hong Kong
NEXIA TAX UPDATE
• On-line Legal and Tax databasehttp://www.nexia.com/InternationalTaxHandbookonline
• Tax survey
Nexia International Tax Conference 2014 - Hong Kong
NEW DEVELOPMENTS
On-line Legal and Tax database
• Text
Nexia International Tax Conference 2014 - Hong Kong
NEW DEVELOPMENTS
• On-line Legal and Tax databasehttp://www.nexia.com/InternationalTaxHandbookonline
• Tax survey
Nexia International Tax Conference 2014 - Hong Kong
NEW DEVELOPMENTS
NEXIA TAX UPDATE
• Results
• New Developments
• Future Events
• Ongoing Support
Nexia International Tax Conference 2014 - Hong Kong
NEXIA TAX UPDATE
NEXIA TAX UPDATE
• Tax Training
• GMTS conference
• International Tax Conference
Future Events
Nexia International Tax Conference 2014 - Hong Kong
FUTURE EVENTS
• Low cost, high value training• 10 – 12 July, Leiden, The Netherlands• More advanced course than last year• Beneficial Ownership, Tax Treaties, double
taxation and double non-taxation• CPE credits can be arranged• Registration open
Tax Training
Nexia International Tax Conference 2014 - Hong Kong
• Details yet to be finalised but probably will be held • 17 – 18 September, • In Prague
• And will be followed immediately by a meeting of the EMEA Tax Group
GMTS Conference 2014
Nexia International Tax Conference 2014 - Hong Kong
FUTURE EVENTS
• End May / Early June 2015, Copenhagen• Feedback from this year greatly appreciated• Similar format to this year?• Topics for case studies?• Meetings of Special Interest Groups?
International Tax Conference
Nexia International Tax Conference 2014 - Hong Kong
FUTURE EVENTS
NEXIA TAX UPDATE
• Results
• New Developments
• Future Events
• Ongoing Support
Nexia International Tax Conference 2014 - Hong Kong
NEXIA TAX UPDATE
ONGOING SUPPORT
• Tax Director• (Tax) Special Interest Groups• Taxlink• Website tools:
- Tax contact search- Tax article search- The European Holding Company analysis - a
unique quality publication- Cross-border databaseNexia International Tax Conference 2014 - Hong Kong
ONGOING SUPPORT
• Tax Director• (Tax) Special Interest Groups• Taxlink• Website tools:
- Tax contact search- Tax article search- The European Holding Company analysis - a
unique quality publication- Cross-border databaseNexia International Tax Conference 2014 - Hong Kong
ONGOING SUPPORT
Nexia International Tax Conference 2014 - Hong Kong
• (Tax) Special Interest Groups
-Transfer Pricing: Rajesh Sharma-Indirect Taxes: John Voyez-Global Mobility Tax Services: Sten Günsel-Real Estate: Henning-Günther Wind-Private Wealth: Mike Beattie
• Business Advisory Group / Advisory Services Committee
ONGOING SUPPORT
• Tax Director• (Tax) Special Interest Groups• Taxlink• Website tools:
- Tax contact search- Tax article search- The European Holding Company analysis - a
unique quality publication- Cross-border databaseNexia International Tax Conference 2014 - Hong Kong
ONGOING SUPPORT
• Tax Director• (Tax) Special Interest Groups• Taxlink• Website tools:
- Tax contact search- Tax article search- The European Holding Company analysis - a
unique quality publication- Cross-border databaseNexia International Tax Conference 2014 - Hong Kong
ONGOING SUPPORT
Nexia International Tax Conference 2014 - Hong Kong
Tax Contact search
ONGOING SUPPORT
• Tax Director• (Tax) Special Interest Groups• Taxlink• Website tools:
- Tax contact search- Tax article search- The European Holding Company analysis - a
unique quality publication- Cross-border databaseNexia International Tax Conference 2014 - Hong Kong
ONGOING SUPPORT
Nexia International Tax Conference 2014 - Hong Kong
Tax article search
- By country- By date- By author
ONGOING SUPPORT
• Tax Director• (Tax) Special Interest Groups• Taxlink• Website tools:
- Tax contact search- Tax article search- The European Holding Company analysis - a
unique quality publication- Cross-border databaseNexia International Tax Conference 2014 - Hong Kong
ONGOING SUPPORT
Nexia International Tax Conference 2014 - Hong Kong
- 32 countries- 17 aspects for each country
ONGOING SUPPORT
• Tax Director• (Tax) Special Interest Groups• Taxlink• Website tools:
- Tax contact search- Tax article search- The European Holding Company analysis - a
unique quality publication- Cross-border databaseNexia International Tax Conference 2014 - Hong Kong
Nexia Tax Committee - 2014
EMEA• John Voyez (UK)• Robert Langston (UK)• Chris Leenders (The
Netherlands)Asia/Pacific• Lam Fong Kiew (Singapore)
North & Central America• Jonathan Bicher (Canada)• Tim Ross (US)
South America• Diego Bonomi (Uruguay)
Chair: Jim Wall
Nexia International Tax Conference 2014 - Hong Kong
ONGOING SUPPORT
EU VAT rates 2013 (with corporate tax rates in red) brackets)Austria 20% (25%)Belgium 21% (33.9%)Bulgaria 20% (10%)Croatia 25% (20%)Cyprus 18% (12.5%)Czech Republic 21% (19%)Denmark 25% (25%)Estonia 20% (21%)Finland 24% (24.5%)France 20% (33.33%)Germany 19% (29.55%)Greece 23% (26%)Hungary 27% (19%)Ireland 23% (12.5%)
Average EU VAT rate 20.36% (22.85%)
Italy 21% (31.4%)Latvia 21% (15%)Lithuania 21% (15%)Luxembourg 15% (29.22%)Malta 18% (35%)Netherlands 21% (25%)Poland 23% (23%)Portugal 23% (25%)Romania 24% (16%)Slovak Republic 20% (23%)Slovenia 20% (17%)Spain 21% (30%)Sweden 25% (22%)UK 20% (23%)
Nexia International Tax Conference 2014 - Hong Kong
And Finally
EU VAT
• Plan for Indirect Taxes as well as direct taxes
• Penalty regimes are getting tougher
• Most overseas companies doing business in the EU should register for VAT. Only 450 have – unfair competition for your clients? Similar compliance problems in other regions?
Nexia International Tax Conference 2014 - Hong Kong
And Finally
IN SUMMARY, DON’T FORGET
• Tax Training Course: 10-12 July, the Netherlands
• GMTS Conference: 17–18 September, Prague
• International Tax Conference: End May/Early June 2015, Copenhagen
• VAT
Nexia International Tax Conference 2014 - Hong Kong
NEXIA TAX UPDATE
Any Questions?
Nexia International Tax Conference 2014 - Hong Kong
NEXIA TAX UPDATE
NEXIA TAX UPDATE
THANK YOU
Mike AdamsD: +44 (0) 20 7631 9712 M: +44 (0) 7966 534 857
Nexia International Tax Conference 2014 - Hong Kong