On Friday 12th July Berwick Partners hosted a breakfast seminar and networking event for a group of FTSE 100 Heads of Tax. Our guest speaker was a leading Big 4 Tax Policy leader who spoke about the recent scrutiny in the tax affairs of multi-nationals and the likely outcome of the OECD report on BEPS (Base Erosion and Profit Shifting). An interesting discussion followed which concluded with all the Tax Leaders agreeing the world of tax is changing beyond recognition. The demand on Tax Leaders is greater than it has ever been and we expect a significant change in the way in which in-house tax teams are structured. More commercial tax operators, who remain technical experts, are increasingly sought after. Tax leaders are expected to have the ability to answer to the Board, Shareholders and the media through providing a succinct and non-technical summary of the company’s tax policies. Whilst it was agreed that the OECD report on BEPS is unlikely to have any immediate significant impact, changes will certainly take place in tax regulation over the next year to two years. The immediate effect is likely to be behavioural change and much of that is already apparent with leading multi-nationals becoming more transparent with their tax position.
We will continue to hold similar events with leading Advisors and Tax Policy makers over the coming months.
For further information about future events or to hear about our tax offering please contact Tahira Raja, Principal – Tax at Berwick Partners. E-mail; firstname.lastname@example.org Tel: 0207 529 1036.