BEPS 2.0 - Where are we and how will this impact your business? (AMRE)

KPMG in Singapore invites you to an exclusive in-person event where we discuss technical tax rules, current country adoption landscape and practical operationalisation of the Organisation for Economic Co-operation and Development New Global Minimum Effective Tax Rate initiative for Asset Management, Financial Services and Real Estate Clients.

The historic agreement BEPS 2.0 reached at the G20 Rome Summit in October 2021 has put forward one of the most significant reforms to international tax system in over 100 years. Among others, Pillar 2 and particularly the Global Minimum Tax rules present significant complexity in its design as well as excessive compliance burdens for MNE groups. Though doubts had once been casted on whether and when this set of rules would garner global consensus and come into effect, the implementation and application of these rules are now a reality with the landmark approval of the EU Minimum Tax Directive on 15 December 2022 and a series of country legislation being enacted in Japan, Korea, and Switzerland with more to come.

Singapore headquartered groups and other set-ups in Singapore are expected to be significantly impacted given the interactions between the Singapore specific tax regimes and the operations of the minimum tax rules. Assessing impacts and planning for the management of future compliance obligations is a significant undertaking.

In this event we will explore the pertinent Pillar 2 issues for Singapore set-ups, with special focus on Asset Management, Financial Services and Real Estate sector clients, that are likely to give rise to tax, data, and operating model challenges. We will address how tax functions can pro-actively plan and prepare, in order to be well-positioned before the new rules take effect and compliance obligations commence.

We will focus on the following areas during the event:

• Pillar 2 state of play globally and around Asia Pacific
• Snapshot of how the rules work
• Pillar 2 Safe Harbour Rules
• Potential Asset Management and Real Estate sector-specific Pillar 2 issues and what you may need to consider in your future deals
• Planning a project to prepare for Pillar 2 considering key system and data challenges
• Use of technology tools, including for impact assessments and future compliance

Please join KPMG in Singapore’s BEPS Pillar 2 specialists, as we walk through the tax issues, transformation drivers, impact assessments and how to shape an effective roadmap for pre- and post-regime landscape. This event will be followed by an opportunity to network with other industry executives whilst enjoying drinks, canapes and panoramic views from our new office at Asia Square.

We look forward to welcoming and engaging with you during the event.