HIGHLIGHTS FROM TP MINDS LONDON 2023
The TP Minds London 2023 International Forum, which happened this year on 19-22 June, is an annual event that brings together transfer pricing professionals from around the world to discuss the latest developments and trends in transfer pricing. iVC Consulting company’s Managing Director Arnas Laurynas had the opportunity to explore the world of transfer pricing alongside with like-minded professionals.
As the event unfolded, Arnas noted several trends that are changing the landscape of international taxation:
OECD's Impact: The OECD is becoming a big player in setting global tax rules. It's causing some major changes in how international tax works.
Pillar 1 & Pillar 2: The focal point of the event was discussions on Pillar 1 and Pillar 2. These conversations illuminated the pressing need for fresh transfer pricing rules and highlighted the dynamic nature of international tax, particularly within the tech value chain. It served as a wake-up call for international companies to prepare for the upcoming changes, especially with the increasing need for TP automation and the prevalence of software solutions in tax and transfer pricing calculations.
Brazil's Tax Twist: What caught Arnas attention was Brazil's significant decision to adopt the OECD's arm's length tax framework, a major shift in their tax strategy. This was discussed at the event and generated discussions about its potential impact on the tech sector.
Professional Dialogue: Beyond these global shifts, TP Minds London 2023 provided a platform for professionals to engage in vibrant dialogues. We delved into updated UK documentation rules and explored the intricate connections between transfer pricing, transparency, and sustainability.
In essence, TP Minds London 2023 was an insightful exploration of transfer pricing and international taxation. It not only offered valuable insights but also underscored the constantly evolving nature of this field.
Please rerun all text in chatgbt to avoid this type of flowery language (immerse himself / a dynamic world). Style should be practical, fairly informal, and down to earth.
Please add a point about TP's increasing need for TP automation, the prevalence of software solutions in tax and transfer pricing calculations in particular as it relates to pillars 1&2
