On 30 November 2021, the AMCHAM Luxembourg Tax Committee hosted a webcast on the Global Business Tax Update, moderated by Bernard David from Deloitte, AMCHAM Luxembourg Tax Committee Chair.
Bob Stack (Deloitte) provided perspectives on the ongoing tax reforms in the US, which adoption would be challenging, and discussed with Pierre- Antoine Klethi (Loyens & Loeff Luxembourg) the issues of global tax harmonization, minimum taxation, and increases in business taxation post-COVID-19. They covered the OECD Pillar 1 (reallocation of taxing rights to market jurisdictions) and Pillar 2 (global minimum taxation), providing insights on their future adoption and their potential impacts on businesses, highlighting their complexity and the critical number of unknowns at the time of the conference.
Aleksandar Ivanovski (CFE Tax Advisers Europe) and Gregory Jullien (Deloitte) exchanged views on the EU tax policy agenda put forward by the EU Commission, discussing trends influencing policymakers, such as the environmental transition, digitalization, the continuous fight against tax fraud, and the development of tax transparency in relation to sustainability and its impact on the need for taxpayers to develop their tax governance and tax communication. Both highlighted the accelerating pace of tax reforms and the growing complexity of the tax environment, testing business tax practice to adapt swiftly and navigate risks.
Watch the webinar here: https://youtu.be/aIfXSoHBGIE