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AmCham Shanghai's Tax Committee invites you to join an offline presentation on OECD developments: potential impact to US companies in China on Thursday, March 18 from 15:30 - 17:00 at the AmCham Shanghai office.
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Background of the topic:
Multinational companies beware: an initiative by the OECD (which involves input from more than 130 countries) is estimated to add USD 100 billion to global corporate tax collections.
In 2013, the OECD began a project focused on "base erosion and profit shifting" (BEPS), which is aimed to set up an international framework to combat tax avoidance by multinational enterprises. BEPS has frequented tax news headlines ever since. As part of the BEPS project, the OECD has been working on a two-pillar approach to international tax. Pillar One focuses on rules for establishing tax nexus where a company does not have a physical presence and Pillar Two focuses on rules for a global minimums tax.
After completely stalling under the Trump Administration, dialogue with the OECD on Pillar One and Pillar Two is, to a degree, expected to resume under the Biden Administration. Contrary to the United States, China is not formally part of the OECD. Nonetheless, the BEPS project is a worldwide initiative, the success of which is depending on all taxing jurisdictions participating.
This session would be helpful to anyone interested in getting up to speed on this important global tax development. During this session, our presenters will provide (i) background to the project, (ii) review the current status of this project, and (iii) provide an update on the specifics of Pillar One and Pillar Two. Our presenters will examine the big-picture impact of the proposals.
There will be a Q&A panelist session during the session.
