TP_Minds_Americas_2016 Agenda

TP Minds Americas 2016

Pre-Conference Workshops - Monday 22 February 2016

Overview:

With the rapid increase in global transfer pricing documentationrequirements, and in particular those resulting from BEPS Action Plan13, multinationals are tasked with staying abreast of developments,complying with increasing documentation and minimizing the impactof heightened audit activity. Impending country by country reportingrequirements are highlighting systemic challenges in the way manycompanies' IT systems and accounting/reporting processes have beenconfigured - and in particular the lack of sensitization for direct taxesand local statutory reporting. And from a policy perspective, ensuringalignment between masterfile, local file, and CbCR is placingunprecedented burdens on in-house TP resources. Many businessesare assessing if their current documentation approach is ‘fit forpurpose’. This interactive and practical session will discuss theemerging documentation requirements around the world, theexpected challenges under revised chapter V, and approaches beingtaken by peer organizations to address these increased requirements,including automation opportunities for data collection, and alignmentwith other tax reporting processes.

Agenda:

How to practically manage the documentation process underthe new environmentTechnology solutions to improve efficiency and reduce risk inCbC reporting processes, and aligning with other taxreporting (e.g. 5471s)Assessing your current documentation approach againstcurrent and future requirementsRemoving unnecessary steps and duplicationLatest country updates, including likely adoption of CbC,Master File and Local File

TP Documentation and CbCR(08:30 Registration, 09:00 - 11:30 Workshop)

Matias Pedevilla,Transfer Pricing Global CoordinatedDocumentation Leader,PwC

David Nickson,Principal,PwC

Overview:

The future of value chain planning is @ RISK! Political pressure, on-going economic crises and BEPS are not just trying to put a break onartificial tax planning, but also commercial creativity and the naturalevolution of the supply chain. The new generations have alreadyembraced the evolution of the value chain (e.g. mobile world, data, 3Dprinting, etc.), but are Transfer Pricing rules and models ready?Evolution cannot (and should not) be stopped, so how can businessesmake sure they don't miss out on the evolution train withouttriggering unnecessary tax and Transfer Pricing risk? This session willexplore these and many other critical issues.

Agenda:

The new exciting technologies that are revolutionizing thevalue chain (e.g. mobile life, big data, 3D printing, etc.)How the existing Transfer Pricing regulations and model willbe affected

Value Chain Planning – Valuing Risk & Opportunities in the Contextof the New Links that are Revolutionising How Businesses Run(11:30 - 14:00, Lunch Included)

Fabrizio Lolliri,Global Head of Transfer Pricing,HOGAN LOVELLS

+44 (0) 20 7017 7790 www.ibc-events.com/TPAmericas [email protected]

8:30 - 8:55

Latest TP Policy Developments

How to value the risk when implementing supply chainplanning for the futureHow to make Transfer Pricing more relevant for the business(from compliance to true commercial planning)What is the refocused role of the TP professional?A practical example, where you will be learning how financialand risk modelling can be used to test the robustness of yourTransfer Pricing and value chain structure for the future

Overview:

Despite recent guidance under the Base Erosion and Profit Shifting(“BEPS”) initiative, multinational corporations (“MNC’s”) are largelyon their own when it comes to determining acceptable capitalstructures for their subsidiaries and accompanying interestdeductions and guarantee fees associated with such structures. In theUS, the existence of relatively large, foreign-controlled subsidiaries,coupled with significant differences in national marginal tax rates,creates a high-stakes environment for disagreement. Led by GlobalEconomic Advisors and Economics Partners, this workshop willaddress the challenges associated with properly structuring, pricingand documenting inter-company debt arrangements, as well asdemonstrate practical steps companies can take to insure they followbest practices and remain in compliance with regulatory intent.

Agenda:

• Review of Thin Cap Regulations • Defining the “Stand Alone” Entity• Explicit vs Implicit Support• Impact of BEPS Initiative (Action 4) on Interest Deductions• Developing a Defensible Financial Policy• Quantifying Qualitative Aspects of a Business• Calculating Appropriate Financial Metrics• Comparable Industry and Credit Rating Analysis• Developing an Implied Credit Profile• Pricing to Appropriate Benchmarks• Documentation Including Covenants • Sources of Comparable Rating and Pricing Data• Approaches to Analyzing Rating and Pricing Data• Credit and Pricing Case Studies

Transfer Pricing of Intercompany Financial Arrangements(14:30 - 17:00)

Dr Tim Reichert,President,ECONOMICS PARTNERS

Gregory Johnson,Managing Director,GLOBAL CAPITAL ADVISORS

Bob Weiss,Managing Director,GLOBAL CAPITAL ADVISORS

Day 1 - Main Summit - Tuesday 23 February 2016

Registration

8:55 - 9:00

Chair's Opening RemarksHoracio Pena,U.S. & Americas Transfer Pricing Leader,PwC

9:00 - 9:40

Mayra Lucas, Senior Transfer Pricing Policy Advisor at the OECD, sitsdown with Horacio Pena of PwC for an on-stage interview, whichpromises to inform and entertain in equal measure. Hear Mayra'sinsights on the final BEPS reports for 2015 and the conclusions

On-stage Interview

In Conversation with the OECD

Mayra Lucas,Transfer Pricing Advisor,OECD


10:40 - 11:00

reached in key areas such as risk, recharacterisation, capital, andspecial measures. This will also be an opportunity to directly quiz theOECD on their pipeline and delivery targets for 2016 and 2017, so youcan prepare for the challenges ahead.

Horacio Pena,U.S. & Americas Transfer Pricing Leader,PwC

9:40 - 10:40

• Master file and country-by-country reporting• Transfer pricing aspects of intangibles and risks• The future of the arm’s length principle• Consensus and controversy• U.S. implementation of BEPS changes• Developing country transfer pricing developments• How business should respond to the new rules and evolvingenvironment

Policy Makers Panel

Global Transfer Pricing Policy Developments (Part I)

Mayra Lucas,Transfer Pricing Advisor,OECD

Michael McDonald,Financial Economist, Office of Tax Policy,UNITED STATES TREASURY

Michael Lennard,Chief, International Tax Cooperation; Financingfor Development Office,UNITED NATIONS

Alberto Barreix,Fiscal Principal Technical Leader,INTER-AMERICAN DEVELOPMENT BANK

Jan Loeprick,PSD Specialist,WORLD BANK GROUP

David Ernick,Principal,PwC

Morning Coffee

11:00 - 11:50

Current technical and practical issues facing tax authoritiesApproaches to setting transfer pricing policy in a changingeconomic environmentPractical insights into MAP and APAsHow are cases for enquiry, audit and litigation selected?Transfer pricing aspects of the BEPS projectImpact of EU State Aid Controversies

Tax Administrations Session

Global Transfer Pricing Policy Developments (Part II)

Carlos Perez-Gomez,Director of Transfer Pricing Examinations,MEXICO TAX ADMINISTRATION SERVICE(SAT)

Enrique Pintado,National Intendant of the National LegalIntendency,PERU TAX ADMINISTRATION (SUNAT)

David Ernick,Principal,PwC

Juan Ricardo Ortega,Director,INTER-AMERICAN DEVELOPMENT BANK


Documentation, Country by Country Reporting & The Transparency Debate

1:05 - 2:20

Managing Risk and Handling Complex TP Audits

11:50 - 12:15

This session will feature best practices for multinational enterprisesmanaging transfer pricing risk in a post BEPS & CbCR environment. Itwill offer insights into how to evaluate, quantify, and track risks. Thesession will also offer insights into what multinationals might expect ina post-BEPS environment and how they can prepare for it. Lastly, thissession will also emphasize the importance of documentation and howit can be used as a risk mitigation tool.

Industry Case Study

Managing Transfer Pricing Risk after BEPS & CbCR

Kim Mancini,Senior Manager Global Transfer Pricing,GENERAL MOTORS

12:15 - 1:05

Can multinationals cope with the additional documentationand reporting requirements?Global value chain transparencyImpact on planning structures as they relate to intangiblesEmerging consensus and timing of adoptionPressures on competent authorities to address risk of doubletaxation

Industry Panel

Country by Country Reporting and other Action 13 ReportingRequirements - Strategy For Coping

Kathryn O'Brien,Principal, Transfer Pricing,PwC

Sameer Chaudhary,Transfer Pricing Director,HEWLETT PACKARD, INC.

Dr Fumiko Tamura,Director, Transfer Pricing,NEWS CORPORATION

Dr Segun Oladunjoye ,Transfer Pricing Senior Manager,WEATHERFORD

Claire Walters,Director, Transfer Pricing,TYCO

Luis Carrillo,Transfer Pricing Director,BUREAU VAN DIJK

Lunch

2:20 - 3:00

Managing lengthy, and in some cases complex multi-jurisdictionalaudits, is one of the core responsibilities of heads of transfer pricing.This industry panel will share critical insights, and inspire you withwar stories. Topics under review include:

Assessing potential TP riskPre-audit best practice and due diligenceImplementing a controversy minimisation strategyDeveloping and maintaining relationships with tax authoritiesStrategic information management and disclosure

Industry Panel

Successfully Managing TP Audits

Jeffrey Timmers,Senior Global Tax Director,CROCS

Lana Natalchenko,Transfer Pricing & Global Tax StructuringDirector,MEAD JOHNSON NUTRITION


3:40 - 3:55

Post-audit best practicePractical advice from industry

Patrick Dervin,Sr. Director - Global Transfer Pricing,AON

Nicole Williams,Global Transfer Pricing Manager ,CELANESE

Juan Carlos Ceballos,Head of Transfer Pricing,THERMO FISHER

Mike Danilack,Principal, Transfer Pricing ,PwC

3:00 - 3:40

Role of APAs post-BEPS: dispute resolution or advancecertaintyInsights into individual country APA programsDeveloping a global APA strategyTechniques for successfully obtaining and reducing APAprocessing times

Industry Panel

Seeking and Obtaining Certainty Through APAs - LatestDevelopments

Graeme Wood,Head of Global Transfer Pricing,PROCTER & GAMBLE

Jay Urquidi,Assistant Director, Global Transfer Pricing,MARSH & MCLENNAN

Scott Campbell,Global TP Manager,FMC TECHNOLOGIES

George Georgiev,Senior Director; Transfer Pricing & EconomicAnalyses,SIEMENS CORPORATION

Kirsten Burmester,Member,CAPLIN & DRYSDALE

Afternoon Coffee

3:55 - 4:35

This Action is a key element of the BEPS project, and one that haspotentially far-reaching consequences for both businesses andgovernments. Industry speakers discuss critical issues in relation tothe existence of PEs, how this can be determined and much morebesides.

Industry Panel

Permanent Establishments - BEPS Action 7

Katherine Amos,VP TP Strategy,EATON

Christopher Eichner,Director International Tax - Transfer Pricing,MONSANTO COMPANY


Transfer Pricing in Practice (Case Studies & Operational TP Issues)

5:45 - 5:50 5:45 - 5:50

Humberto Reboredo,Head of Tax, Americas and Global Head ofTransfer Pricing,CREDIT SUISSE


Sergio Luis Pérez Cruz,Partner,PwC Mexico

4:35 - 5:10

Background to SpotifyDigital Economy and IntangiblesTo split or not split - the power of the functional analysisWalking through the model - road of iterationsExecution, funding and filingsHome Safe??Questions

Industry Case Study

Profit Splits - Taking the Journey

Elias Thomas,Tax & Transfer Pricing,SPOTIFY

5:10 - 5:45

Why should my MNC be concerned about BEPS and Country-by-Country reporting regulations?How are MNC’s preparing for the new regulations: resultsfrom the Thomson Reuters BEPS SurveyHow to build a BEPS compliance strategy?How can technology assist with BEPS compliance?Case study of a MNC implementing country-by-countryreporting processes and technology

New BEPS Regulations and Country-by-Country Reporting –Practical Steps to Compliance

Sharon A. Rosiak,Tax Manager - International Tax BEPS ActionPlans Implementation Lead,DUPONT DE NEMOURS & CO.

Sam Cicogna,VP and Head of ONESOURCE Transfer Pricing,THOMSON REUTERS

Closing Remarks Drinks Reception

Chair's Closing Remarks & End of Day 1 Drinks Reception

Day 2 - Main Summit - Wednesday 24 February 2016

8:00 - 8:40

Attend this pre-conference breakfast briefing session to gain an in-depth understanding of the importance of royalty rates indetermining:

The upfront (platform) value of intangibles in cost sharingarrangementsThe projected value of intangibles to be transferred in inter-group corporate reorganizations

BREAKFAST BRIEFING

How Royalty Rates are Important for Intangible MigrationStrategies

Ednaldo Silva,Managing Director,ROYALTYSTAT


8:40 - 9:00

Global TP Challenges

10:55 - 11:15

The arm’s length royalty rates for the inter-group licensing (inwhich the licensor retains substantial rights) of intangiblesHow royalty rates are an important alternative to profit splitmethods in which both the licensor and licensee are subjectto audit.

...and much more besides

Registration & Start of Day 2

9:00 - 9:30

An update on China’s new TP regulation (revision of Circular2)China’s localization plan on BEPSImpact on taxpayersPractical advice to MNEs operating in China

Industry Case Study

China's New Transfer Pricing Rules - The Shape of Things to Come

Li Ying,Transfer Pricing Director,SIEMENS

9:30 - 10:10

What is the tax authorities’ response to BEPS in developingcountries?Impact of BEPS in some Latin American countriesHow will Action 13 help developing countries?BEPS Future expectations

Thought Leadership Session

BEPS in Emerging Economies: Focus on Latin America

Diana Mogollón,Partner,BASE FIRMA

Francisco Moreira,Partner,CASTRO, BARROS, SOBRAL, GOMESADVOGADOS

10:10 - 10:55

OECD TP Guidelines as a Transmission mechanism to non-OECD countriesManagement and services fee - Base erosive?Customs and transfer pricingAdvance pricing agreementsThe dispute resolution environment & practical advice onsettlementsGetting the average field officer to understand BEPS - a visionbeyond 2020?Better BEPS together than GAAR separately - The global tax‘technology transfer’

Industry Panel

The Wider TP Landscape - Challenges Across BRICS, APAC andAfrica

Toon Mols,Sr. Director Global Tax,SUNEDISON, INC.

Kim Mancini,Senior Manager Global Transfer Pricing,GENERAL MOTORS

Li Ying,Transfer Pricing Director,SIEMENS

Harm Oortwijn,International Tax Director,PARAMOUNT PICTURES

Dr Daniel Erasmus,Director,TRM DANIEL ERASMUS TAX COURTPRACTITIONERS

Morning Coffee


Economic Substance, Intangibles & Comparability

12:40 - 1:50

Transfer Pricing Controversy & Dispute Resolution

11:15 - 11:55

Why is it such a pain when implementing IP planning?Will the OECD make other tax authorities happy byintroducing benefit of hindsight everywhere else?Pressure points when dealing IP planning in the USMerits of benefit of hindsight when dealing with hard to valueintangibles and new IPCurrent casesAn industry perspective

The US and its Commensurate with Income Rules – An example tofollow, or a mistake not to be repeated?


Todd Miller,Partner,HOGAN LOVELLS US

Diane Gardner,Chief Tax Officer,KODAK ALARIS

11:55 - 12:40

Will consensus ever be achieved on intangibles?Hard to value intangibles - the evolving definition ofintangible assetsIP valuation challengesRegulatory licenses and marketing authorizationsThe increasing importance of people functionsNew approaches for measuring location saving advantagesIP planning techniques in the BEPS environmentComparability challenges

Industry Panel

Hard to Value Intangibles and Comparability Challenges

Eduardo Goldszal,Head of Transfer Pricing,NCR CORPORATION

Ognian Stoichkov,Global Transfer Pricing Director,PEPSICO

Elias Thomas,Tax & Transfer Pricing,SPOTIFY

Dr Tim Reichert,President,ECONOMICS PARTNERS

George Georgiev,Senior Director; Transfer Pricing & EconomicAnalyses,SIEMENS CORPORATION

Lunch

1:50 - 2:35

US approach vs. OECD approach –Intangibles, non-routinecontributions, the role of Capital and functions in Profit SplitsAlternative considerations? Integrated businesses, synergiesand other circumstancesHTVI adjustments and considerations – imposing contingentarrangementsThe road from here?

Post BEPs Profit Splits – Where Are We Now?Jill Weise,Managing Director,DUFF & PHELPS

Mark Bronson,Managing Director,DUFF & PHELPS


3:55 - 4:10

Intragroup Financing & Services

2:35 - 3:05

Latest developments on Mutual Agreement ProceduresArbitration and Alternative Dispute Resolution in bilateral,EU and multilateral tax agreementsFuture trends and foreseeable developments in globaldisputesKey takeaways for multinationals

Transfer Pricing Cross Border Resolution Mechanisms

Harm Oortwijn,International Tax Director,PARAMOUNT PICTURES

3:05 - 3:55

The BEPS multilateral instrument – evolution as a tool fordispute resolutionResponse to OECD Action Point #14 - Dispute Resolutionthe future of mandatory binding arbitrationIRS use of private law firms in tax audits and litigationPractical impact of IRS threat to “designate case for litigation”Unique challenges of multi-jurisdictional cases

Industry Panel

Transfer Pricing Controversy and ADR

Clark Armitage,Member,CAPLIN & DRYSDALE

Todd Bergmann,Manager, Global Transfer Pricing Controversies,FORD MOTOR COMPANY

Bradley Shumaker,Tax Counsel, Transfer Pricing,ZIMMER BIOMET

Mike Danilack,Principal, Transfer Pricing ,PwC

Michael Cartusciello,Executive Director, Global Transfer Pricing,JP MORGAN

Afternoon Coffee

4:10 - 4:50

• Approaches to credit rating• Implicit support• Interest rate benchmarking• Cash pooling• Financial guarantees• Performance guarantees• Thin capitalization• Other treasury functions• Treasury manuals

Industry Panel

Transfer Pricing Aspects of Financial Transactions

Brad Rolph,Canada National Practice Leader; TransferPricing,GRANT THORNTON

Niraja Srinivasan,Executive Director, Tax,DELL

Scott Campbell,Global TP Manager,FMC TECHNOLOGIES

Humberto Reboredo,Head of Tax, Americas and Global Head ofTransfer Pricing,CREDIT SUISSE


4:50 - 5:35

BEPS discussion draft on Action 10 – Low value addingservicesLow or high value? How to identify routine versus non-routine servicesContract R&D – Low value or high value in the context of IPownership?Effects of Action 10 on management fees. Mark-up versusallocation.How will tax authorities react to Action 10? How to identifypotential risk on low value adding servicesOECD guidance vis-a-vis IRS regulations

Industry Panel

Low Value-Adding Intragroup Services

Dr Fumiko Tamura,Director, Transfer Pricing,NEWS CORPORATION

Al Heber,Head of Transfer Pricing,CNH INDUSTRIAL


Sarah Tat,AVP, Int'l & Transfer Pricing, Corporate Tax ,MANULIFE


5:35 - 5:40

Closing Remarks

Post-Conference Workshops - Thursday 25 February 2016

Overview:

The release of the final BEPS reports on 5 October 2015 has triggeredthe need for international groups to review their tax risk managementstrategies, especially with respect to their strategies to manage andminimize the exposure to transfer pricing disputes that are likely toincrease in many different countries. This advanced strategy tohandling transfer pricing disputes entails the necessity to overcomethe 7 habitual mistakes international groups tend to make managingand preparing for the inevitable transfer pricing audits that will takeplace. This is followed by the necessary steps in managing andcontrolling a transfer pricing audit to minimize risk exposure, with thevarious dispute resolution remedies available to international groups,in a structured and co-ordinated manner. Action 14 of the final BEPSreports written to make dispute resolution mechanisms moreeffective will be addressed in a practical manner in the advanceddispute resolution process. Action 15 on the multilateral instrumentenvisaged will also be considered.

Agenda

Managing and minimizing TP tax risksCommon mistakes made by international groupsTax Administration- Constitutional & administrative law considerations- The Tax Administration Framework- Audit procedure administration- Domestic TP legislation- TP guidance and regulations- International guidance as soft law or international lawTechnical Considerations- Marketing intangibles as an example

Advanced TP Dispute Resolution Strategies(08:30 Registration - 09:00 - 11:30 Workshop)

Dr Daniel Erasmus,Director,TRM DANIEL ERASMUS TAX COURTPRACTITIONERS


- Applicable principles & case lawAPAs, MAPs and other dispute resolution remedies- How to manage settlements- APAs

Overview:

Two key outcomes of BEPS are increased information requirementsfor multinational enterprises (MNEs), and increased uncertaintyabout how countries will apply transfer pricing rules. On theinformation front, tax administrations will have more immediateaccess to company information (through the Master File et al), and aresharing more information. On the substantive front, with the USclaiming victory in BEPS, and India claiming vindication, substantivedisagreement certainly remains (particularly as to risk allocation). Inthis environment, an appropriate next step may be to considerAdvance Pricing Agreements (“APAs”) to gain acceptance of transferpricing platforms. In the US, the Advance Pricing and MutualAgreement Program (“APMA”) has published new rules governing theAPA application process (Rev. Proc. 2015-41). Those rules, like theBEPS reports, generally require more information up front. Thisworkshop will highlight how to navigate the US APA process in light ofthese changes. The presenters will discuss the importance ofdocumenting and defending risk allocations, and providing meaningfuldata to support transfer pricing outcomes. We’ll share otherexperiences on best practices, and provide practical advice on how tonavigate the system effectively.

Agenda:

Considering the trade-off between tax certainty, risk andoptimizationOptions, procedures, and strategies relating to APAsubmissionsUnilateral versus bilateral versus multilateral agreementsRetaining control and managing the APA processPractical examples

Using APAs to Mitigate Risk and Disputes in the Age of BEPS(11:30 -14:00, Lunch Included)

Clark Armitage,Member,CAPLIN & DRYSDALE

Kirsten Burmester,Member,CAPLIN & DRYSDALE

Overview:

Tax authorities around the world are adopting a more aggressiveapproach to inter-company transactions. As a consequence,businesses face increased regulation and an unprecedented level ofaudit activity. Tax authorities have intensified their scrutiny andmultinational’s tax strategy has become of public interest with thefocus on corporations ‘paying their fair share’. Tax strategy will betightly tied to corporate reputation and media communications willplay a significant role in the future. The final deliverables on theOrganization for Economic Cooperation and Development (OECD)action plan for Base Erosion and Profit Shifting (‘BEPS’) project call willcall for actions by individual jurisdictions designed to address BEPS.Many businesses are reviewing their current tax strategies in light ofthe latest developments in the international tax landscape. Thesebusinesses see the benefit of taking proactive steps to identify areasof risk and put in place planning strategies that will be sustainable forthe long run.

Agenda:

The OECD BEPS action plan and their recent finaldeliverables.

BEPS Risk Assessment in a Changing Tax World(14:30 - 17:00)

Sergio Luis Pérez Cruz,Partner,PwC Mexico


CbC reporting: The Mexican regulationsAudit Risk and tax Disputes: Best practicesWhat is a BEPS-focused strategic risk assessment?


Documents

TP_Minds_Americas_2016 Agenda