Virtual Seminar on Advance Tax Ruling of Large Businesses Held on 31 March 2022
The Virtual Seminar on Advance Tax Ruling of Large Businesses was held on 31 March 2022. Representatives from the BRITACOM Council Member Tax Administrations, Observers, the Advisory Board, and business attended the meeting. All participants and speakers contributed to this informative and engaging event.
The transactions and financial arrangements of large businesses, which are often significant in amount, are becoming increasingly complex and specialized. How tax law is applied in the operation and whether tax law gives certainty is of great importance for large businesses. Many jurisdictions have established large business tax office to handle tax-related matters for large businesses. The advance tax ruling system, as a practical tool for enhancing tax certainty, may eliminate potential tax risks and improve tax compliance. We may build an open and transparent tax-enterprise relationship through tax-enterprise cooperation, laying the foundation for better service to large taxpayers.
At the seminar, Mr. Tamás KISS, Head of Transfer Pricing Support Unit of the Large Taxpayers’ Tax and Customs Directorate of the National Tax and Customs Administration of Hungary, introduced the development of Hungarian large taxpayer office and its special measures. Mr. Li Yinan, Deputy Director of Assessment Service Office, Large Business Taxation Department of State Taxation Administration of China shared China's Large Business Advance Tax Ruling System and the practices of State and Local Tax Authorities. Mr. Edwin Visser, Partner and Tax Policy leader for the EMEA region and of PwC Europe, presented insights in advance tax ruling and tax certainty services for large businesses, leading attendees to reflect on how to reduce potential challenges arising from the use of tax certainty services. Mr. Christopher Sanger, Partner and Head of Tax Policy of EY made some comments on each topic after the speeches, and expressed that advance tax ruling could be a valuable tool if implemented properly.
Participants were attentive at the conference, actively participated in the online polls and had extensive exchanges with speakers on key topics and issues.
This is the first virtual seminar held by the BRITACOM this year and more seminars will be organized on the topics listed in Nur-Sultan Action Plan (2022-2024) within this year to facilitate communication among BRITACOM parties to build a growth-friendly tax environment.(see details about the virtual seminar on advance tax ruling of large businesses)