Tax Takes Video Series: COVID-19 Global Tax Implications
The IBFD Tax Takes free video series provides the whole tax community with quick and practical insights related to the tax implications of the COVID-19 pandemic. IBFD’s broad network of tax professionals closely monitor the evolving global situation and provide expert insights. Each episode will share our latest learnings, connecting recent news with practical information to help you keep abreast of the latest developments.
The global economic impact of the COVID-19 (coronavirus) pandemic is unprecedented, with the OECD labelling it the greatest danger to the world economy since the 2008 financial crisis. Amongst a suite of economic policy actions, governments worldwide are introducing new emergency tax measures as a means to limit the economic damage caused by the virus and protect their taxpayers. In this rapidly evolving situation, policy changes are implemented on a daily basis.
Episode 17: ICT and Tax Administration in the Post-COVID-19 Era
This episode explores the cutting-edge technologies tax administrations will need in the post COVID-19 era. We’ll look at specific examples of technology in practice, including e-invoicing. Leading experts, Márcio Ferreira Verdi, Raul Zambrano and Vinicius Pimentel de Freitas, from the Inter-American Center of Tax Administrations (CIAT), and IBFD Special Counsel Barry Larking address the practical implications both now and in the future for tax administrations and taxpayers.
Episode 16: Customs Aspects of the Crisis
Customs duties aren’t just about state revenue; they’re also about protecting local markets and mitigating public health risks. In this episode, Zsolt Szatmári, Managing Senior VAT at IBFD, and Leonardo Macedo, judge at the Administrative Tax and Customs Court (CARF) in Brazil, discuss the impact of the COVID-19 pandemic on global trade, the customs measures being taken and what businesses can do to adjust their operations.
Episode 15: Chinese Tax Authority's Response to the Economic and Social Impact of the Crisis
What are the main tax measures taken by China to tackle the impact of COVID-19? What role does BRITACOM play in this regard? In this episode, IBFD Special Counsel Barry Larking is joined by Deputy Director General Suhua Huang from the State Taxation Administration of China. Together, they examine the government’s strategy and its implications.
Episode 14: Adapting VAT Processes to the Crisis
VAT can be a good source of state revenue during the COVID-19 crisis. However, this must be balanced against the risk of businesses going bankrupt and also a potential rise in VAT fraud. What are the major global trends when it comes to COVID-19 VAT measures? How will taxpayers benefit and what are the potential downsides? Jordi Sol, International VAT Consultant, and Zsolt Szatmari, Managing Senior VAT at IBFD, discuss these questions and provide you with practical insights.
Episode 13: Tax Evasion and Avoidance in the Crisis
Is tax avoidance acceptable during a crisis? Or should countries be taking additional steps to encourage compliance? Which measures could safely be relaxed? Victor van Kommer, Director of IBFD Tax Services, and IBFD Special Counsel Barry Larking discuss recent experience and present various scenarios on the subject.
Episode 12: Developing Countries – Finding the Balance between Tax Relief and Future Revenue
As developing countries try to ease the economic burden caused by COVID-19, they must find a balance between tax relief and future revenue. In this episode, Belema Obuoforibo, Director of the IBFD Knowledge Centre, and guest experts Prof. Attiya Waris, Johan Langerock and Dr Yon Arsal address three key questions:
Given the structure of many African economies, in particular the informal sector, what’s the ideal fiscal policy design for African governments during this crisis?
Should developing countries offer tax incentives, and if so, under what conditions?
Taking one country as a case study: what are the main tax incentives and policies implemented in Indonesia as a result of the COVID-19 pandemic?
Episode 11: Could COVID-19 Lead to More EU Taxes?
In May 2020, the European Commission proposed a EUR 750 billion financing package to help EU Member States recover from the COVID-19 crisis. Just how revolutionary or controversial is the plan? Will the European Union actually introduce new taxes to finance the cost? Prof. Frans Vanistendael and IBFD Special Counsel Barry Larking discuss these questions and provide practical insights to help you prepare.
Episode 10: Tax Relief and Recovery Measures – Design and Policy Issues
The international tax world is in crisis and countries are spending billions on tax reliefs or subsidies, mainly to safeguard employment. What are the policy considerations to increase tax revenue in the post-COVID world? Will the role of trade agreements increase in importance at the cost of tax agreements? IBFD Principal Research Associate Premkumar Baldewsing and Stef van Weeghel, Global Tax Policy Leader at PwC, address these issues and their global implications.
Episode 9: Tax Treaty and Nexus Implications
This episode looks at how COVID-19 phenomena such as lockdowns and teleworking may affect taxpayers and whether or not tax treaties can help. Why are some countries tackling this under domestic law and others under bilateral agreements? What are the OECD and UN doing? Or is this much ado about nothing? IBFD Special Counsel Barry Larking and Michael Lennard from the UN will address these questions and their implications.
Episode 8: The Business Response to the COVID-19 Crisis
How does COVID-19 affect the daily work of a tax director and an MNE’s in-house tax function? IBFD Principal Research Associate Premkumar Baldewsing and former Global Head of Tax Annemiek Kale address the short- and long-term impact on multinational businesses and provide practical insights.
Episode 7: Impact on Group Financing for US Multinationals
Many US multinationals are considering adjusting their financing structures to face the challenges brought about by the COVID-19 crisis. IBFD Special Counsel Barry Larking and Michael Lebovitz, Partner at Mayer Brown, address the options available to US MNEs and their potential consequences, including the impact of the US CARES Act relief.
Episode 6: Implications for Digital Taxation and Global Tax Reform
Should the OECD’s proposals on Pillar One and Two be postponed while the global economy recovers? Do we need a Pillar Three? IBFD Special Counsel Barry Larking and IBFD Academic Chairman Prof. Pasquale Pistone address these and other questions and their implications for the taxation of the digital economy and global tax reform.
Episode 5: The Tax Impact of COVID-19 in the Asia-Pacific Region
What are the short- and long-term impacts of COVID-19 on tax policies, tax administrations, trade and other relations in the Asia-Pacific region? IBFD Principal Research Associate Premkumar Baldewsing and International Tax Lawyer & Futurist Dr Gitte Heij share their expert insights and discuss possible future scenarios.
Episode 4: A Transfer Pricing Crisis?
What social distancing is doing for human interaction, the arm’s length principle has traditionally done for intercompany prices. But what constitutes arm’s length now may be radically different from what it was before the COVID-19 crisis. In this episode, IBFD Special Counsel Barry Larking is joined by transfer pricing expert Rezan Ökten from the Dutch law firm Houthoff. They will address some of the exposure areas and what taxpayers should be doing to get their transfer pricing in order.
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Episode 3: The Tax Impact of COVID-19 in the Netherlands
This episode focuses on the tax measures introduced by the Dutch government to provide relief for taxpayers impacted by the COVID-19 pandemic. IBFD expert Premkumar Baldewsing and Jian-Cheng Ku, Partner at DLA Piper Amsterdam, share authoritative views on these measures and provide practical insights relevant for both Dutch and foreign multinationals with operations in the Netherlands.
Episode 2: Impact on Tax Administrations
We look at COVID-19's impact on tax administrations. IBFD expert Barry Larking joins Øivind Strømme from the Norwegian Tax Administration to share expert views on the FTA's document “Tax Administration response to COVID-19: Business continuity considerations”. This video explores the practical steps administrations have taken, what may follow and the consequences for taxpayers.
Episode 1: Tax Relief Measures: What Governments Are Doing
The first episode addresses important developments in states’ tax measures and their wider implications.