2024 Agenda (Summit Day 2)Wednesday, 20 November 2024

How will AI be deployed by tax revenue authorities in the future, and will it result in the emergence of a fairer tax systems for both revenue authorities and multinational taxpayers? This session will explore the scope of AI in taxation, discuss potential abuse and protection mechanisms (an ethical framework) and how AI can be used to foster fairer taxation frameworks globally, as well as greater cooperation between Taxpayers and Tax Administrations.

Will your supply chain grind to a halt in the face of sustainability regulations? Are you taking advantage of grants and credits that support supply chain investment? How are you horizon scanning and managing the data requirements for compliance? This panel session will examine the plethora of sustainability and circular economy regulations that are now impacting supply chains and what this means for organisations’ ability to support traceability, sustainability and assurability. We will also debate the approaches we see companies adopting to manage their response to these challenges (spoiler alert: Tax departments are involved!)

This panel will address some of the key transfer pricing issues arising as a result of the green agenda. A recent Big4 report identifies the key issues arising from the green agenda as having an impact on: Major new product costs and/or savings; Development of new products and processes; Impact on new or existing brand value; Creation or enhancement of intellectual property assets; Changes to the supply chain and operating models; Participation in new regulatory or trading regimes; Profit changes that reflect new environmental costs and benefits and new products.

As the circular economy continues to colour discussions around supply chains and sustainable taxation, this session will start by exploring the concept of circular economy and how some of the world’s largest corporations are embedding it as a central tenet of sustainable policies and practices. Panellists will then look at the tax consequences of different circular business models and discuss how the current tax system affects businesses with circular products and models. What must change and how will taxation help drive change?

This session investigates what taxation levers there are to deal with rising inequality, and it explores to what extent growth might be the main solution. It will look at the difficulty surrounding wealth taxes, Income tax concessions as well as other levers including property taxation and personal capital taxation. Finally, panellists will also discuss if alternative forms of taxation can or should be part of a more sustainable future by looking at the pros and cons of Windfall taxation, Network user charges for large MNEs and country-specific examples of the leveraging of taxation and non-taxation revenues (Ireland vs Singapore vs New Zealand vs Denmark).

Employee taxes (including payroll deductions and social security contributions) can make up a large percentage of the tax generated by businesses. This session explores the extent to which the use of employee remuneration structures and non-employee contractors which aim to minimise tax paid (whether by the business or those individuals) continue to be appropriate in the social and governance context of today. It will also consider the extent to which employee remuneration should be contingent on the sustainability and ESG considerations of the business.