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Tax Officers Summit XIII 2012


Developing Core Competencies in Tax 
 





Larry Martin, a speaker at the marcus evans Tax Officers Summit XIII 2012, on the benefits of in-sourcing core competencies. 

Interview with: Larry Martin, Vice President of Tax, AOL, Inc.


FOR IMMEDIATE RELEASE


“The best way to prepare for what lies ahead is to make sure that we are on solid footing and that the strategies we adopt today are already in our reach,” says Larry Martin, Vice President of Tax, AOL, Inc. It is crucial for tax officers to determine what their core competencies are that could be done in-house, and from there, determine what could be outsourced.


A speaker at the marcus evans Tax Officers Summit XIII 2012, in Hollywood, Florida, May 17-19, Martin discusses what tax functions should be carried out in-house and what should be outsourced.     


How can tax officers decide what should be outsourced or done in-house?


A combination of outsourcing and in-house tax functions works best. It is advisable to in-source all work up to a senior manager level. Highly technical areas and ones which the organization does not deal with often should be outsourced.


Every head of tax must step back and look at their core competencies: those that could be done in-house and those that should be outsourced. This will depend on their day-to-day activities. Some may consider mergers and acquisitions as a core competency, whereas others may outsource this.


What drives tax strategies for online organizations?


Our principle challenge lies around tax accounting and financial reporting to the Securities Exchange Commission (SEC).


AOL was spun off from Time Warner a few years ago and everything from the staffing to systems and processes needed to be worked on. We just finished an implementation of tax accounting systems, one was the tax provision, and we have already seen significant benefits from an efficiency and process standpoint.


The financial crisis contributed to many tax strategies changing, but in AOL’s case this was not the primary driver. We are driven by economics and similar concerns that all internet companies face, such as monetizing traffic on websites. This is what is driving our tax strategy, both domestically and internationally. 


How could the tax function be run more effectively?


I see myself as a business man who happens to specialize in tax. It is crucial for tax officers to integrate themselves into the business and support it by adopting strategies, communicating those strategies and delivering on them. Traditional tax functions focusing solely on technical tax matters will limit their value to their organization.


What is your outlook for the future?


The best way to prepare for what lies ahead is to make sure that we are on solid footing and that the strategies we adopt today are already in our reach.


As we are looking for transactions, one key element we always try to plan for is an exit strategy. This means that from a tax standpoint, when we are going down a certain path and for some reason it unravels on the business side, we will be able to unwind the tax planning without significant detriment to our position.



Contact: Stacey Melvin, Journalist, marcus evans, Summits Division


Tel: + 357 22 849 400
Email: press@marcusevanscy.com


About the Tax Officers Summit XIII 2012


This unique forum will take place at The Westin Diplomat Resort & Spa, Hollywood, Florida, May 17-19, 2012. Offering much more than any conference, exhibition or trade show, this exclusive meeting will bring together esteemed industry thought leaders and solution providers to a highly focused and interactive networking event. The Summit includes presentations on confronting the endless challenge of how to cope with the evolving tax world, the pressure of staying up to date with pending legislation and best practices for running the tax function.


For more information please send an email to info@marcusevanscy.com or visit the event website


marcus evans group – finance/insurance sector portal


The Finance Network – marcus evans Summits group delivers peer-to-peer information on strategic matters, professional trends and breakthrough innovations.


                            


Please note that the Summit is a closed business event and the number of participants strictly limited.


About marcus evans Summits


marcus evans Summits are high level business forums for the world’s leading decision-makers to meet, learn and discuss strategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity to individually tailor their schedules of keynote presentations, think tanks, seminars and one-on-one business meetings. For more information, please visit www.marcusevans.com



All rights reserved. The above content may be republished or reproduced. Kindly inform us by sending an email to press@marcusevanscy.com


 

European Tax Summit 2012


International Tax Planning in Uncertain Environments












Krupal Kanakia from Chaturvedi & Shah, a sponsor company at the marcus evans European Tax Summit 2012, on utilising international tax planning strategies in India. 


Interview with: Krupal Kanakia, Partner, Chaturvedi & Shah



FOR IMMEDIATE RELEASE


“Organisations investing into India must ensure that their tax structure is achievable and has substance, as today’s environment is uncertain,” says Krupal Kanakia, Partner, Chaturvedi & Shah.


From a sponsor company at the upcoming marcus evans European Tax Summit 2012, in Dublin, Ireland, 26 – 27 March, Kanakia discusses tax planning strategies and operating in favourable tax environments. 


Has the tax environment in India changed due to the economic environment?


Yes, tax authorities have taken an aggressive position due to increased pressure to generate revenues. 


Nevertheless, tax avoidance has been a fascination, but with rates being rationalised to a large extent, there is a lot more transparency as far as tax payers are concerned. With the benefits and deductions now available, the tax environment is far better than it was before liberalisation.


What advice would you give on international tax and the offshore structuring of deals?


Organisations must ensure that their structure is achievable and has substance. Many structures fail when Indian authorities look at them because they lack depth. When entering foreign countries, it is crucial to have your initial structure in place sooner than later.


The tax structure must also take into consideration the provisions of the Direct Tax Code, which may lead to further litigation if it comes into effect.


How can organisations ensure compliance when dealing with international transactions? 


The international transactions being structured into and out of India are crucial. There is now a regime in place where every document and remittance must be looked at by a chartered accountant who then has to certify the documents and submit any withholding taxes to the Central Bank of India. This has made things clearer for those interested in international remittance. It also regulates the process and ensures compliance.


What long-term strategies could you share with your peers in Europe?


India has solid inbound potential. Tax uncertainties have prevailed but the Supreme Court has always laid down the law. There is no point in being deferred by doubts. Take it head on and reap the growth and cost saving opportunities that India has to offer.   


Contact:
Stacey Melvin
Journalist
marcus evans, Summits Division
Tel: + 357 22 849 400
Email:
press@marcusevanscy.com



About the European Tax Summit 2012


This unique forum will take place at The Four Seasons, Dublin, Ireland, 26 – 27 March 2012. Offering much more than any conference, exhibition or trade show, this exclusive meeting will bring together esteemed industry thought leaders and solution providers to a highly focused and interactive networking event. The Summit includes visionary presentations and interactive forums on substantial fiscal deficits, minimising tax gaps and developing transfer pricing strategies.


For more information please send an email to info@marcusevanscy.com or visit the event website at www.taxsummit.com


marcus evans group – finance/insurance sector portal


The Finance Network – marcus evans Summits group delivers peer-to-peer information on strategic matters, professional trends and breakthrough innovations.












 

 

 


Please note that the Summit is a closed business event and the number of participants strictly limited.


About Chaturvedi & Shah


Every great journey begins with a small step. The journey at Chaturvedi and Shah began in 1967 by Shri D.N. Chaturvedi. Many successful steps later, today C&S is one of the leading firms of Chartered Accountants in India, having a national presence through its Head Office in Mumbai and branches at Delhi, Ahmedabad, Bangalore, Calcutta and Jamnagar.


Chaturvedi & Shah provides client focused services in the field of Audit & Assurance, Taxation Consultancy, Corporate Advisory & Consulting, Merger & Acquisition, Investment Banking etc.


www.cas.ind.in


About marcus evans Summits
 
marcus evans Summits are high level business forums for the world’s leading decision-makers to meet, learn and discuss strategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity to individually tailor their schedules of keynote presentations, think tanks, seminars and one-to-one business meetings. For more information, please visit
www.marcusevans.com



All rights reserved. The above content may be republished or reproduced. Kindly inform us by sending an email to press@marcusevanscy.com

European Tax Summit 2012


Chairman:
Patrick J. Ellingsworth, Former Chair Taxation Committee, BIAC-OECD, Trustee, IBFD


Our Distinguished Panel of Speakers:



  • Paul Morton, Head of Tax, Reed Elsevier Group

  • Kenneth O’Mahony, Group Head of Tax, Kerry Group

  • Farkas Barsony, EMEA Tax Director, General Electric

  • Michael Pleines, Head of Tax Accounting & Consolidation, Ferrero 

  • Reijo Salo, Head of Tax, Fortum Corporation

  • Christian Lehmann, Director of Tax Policy & Procedural Law, Lufthansa German Airlines

  • Colin Garwood, Head of Group Tax, Intercontinental Hotels

  • John Christensen, Director of the International Secretariat, Tax Justice Network

  • Joel Cooper, Transfer Pricing Specialist, World Bank Group Global Tax Simplification Programme

  • Johannes Schimmer, Head of Group Transfer Pricing, Adidas Group

  • Michael Ludlow, Head of Global Tax Planning, Standard Chartered Bank

  • Jeffrey Owens, Director, Centre for Tax Policy and Administration, OECD

  • John Connors, Director of Tax, Vodafone Group

  • Donato Raponi, Head of Unit, VAT, DG Taxation & Customs Unit, European Commission

  • Chris Needham, Global Head of VAT, General Electric

  • Georg Geberth, Director of Tax Policy, Siemens

  • Christian Amand, Chairman, Indirect Tax Subgroup, Confédération Fiscale Européenne, Member, Business Expert Group