CPE PACKAGES (Incl. Ethics) for Multiple States and Qualifications @ $4/credit. CLICK HERE to view.

The Unified Solution to BEPS challenges in the New Economy: Update on Pillar one and Pillar

  • AFSP
  • CPA (US)
  • EA
  • Tax Preparer
  • CTEC
The Unified Solution to BEPS challenges in the New Economy: Update on Pillar one and Pillar

1 Credit

$10

Subject Area

Taxes

Webinar Qualifies For

1 CPE credit of Taxes for all CPAs

1 CE credit of Federal Tax for Enrolled Agents ( IRS Approved : GEHNZ ) (Approval No. GEHNZ-T-00484-21-O)

1 CE credit of Federal Tax Subjects for California Tax Professionals (CTEC Approved - 6273) (Approval No. 6273-CE-0484)

1 CE credit of Annual Filing Season program (AFSP)( IRS Approved : GEHNZ )

1 CE credit of Federal Tax for Maryland Tax Preparers (Approval No. GEHNZ-T-00484-21-O)

1 CE credit of Federal Tax for Oregon Tax Preparers (Approval No. GEHNZ-T-00484-21-O)

1 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Course Description

The Organization for Economic Cooperation and Development (OECD) finalized the Base erosion and profit shifting (BEPS) initiative in 2015. BEPS refers to tax planning strategies that exploit gaps and mismatches in tax rules to make profits 'disappear' for tax purposes or shift profits to locations with little or no real activity.  A significant challenge for the BEPS initiative is the digital economy's taxation and lack of physical nexus. With its attendant networks and linkages, a Digital economy spurs innovation, generates efficiencies, and improves services.  Simultaneously, this change's breadth and speed introduce a challenge to many policy areas, including taxation based on physical presence. A unified approach known as Pillar One and Pillar Two is proposed by the OECD to handle the tax challenges posed by a unified, integrated, digital economy.  Pillar One focuses on nexus and profit allocation, whereas Pillar Two is focused on a global minimum tax intended to address remaining BEPS issues.

This CPE webinar is a detailed look at the controversial Unified Approach, Pillars One and Two, and critically assesses each pillar's methodology regarding the problems posed within the BEPS framework. 

Major topics covered

  • What is the impact of the Digital Economy on International Taxation? 
  • Virtual Nexus vs. Physical Nexus in the Digital Economy
  • The OECD Unified Approach
  • OECD Pillar One, parts A, B, and C. 
  • Pillar One,  Part A:  Arm's Length Standard vs. Formulary Apportionment 
  • Global Minimum Tax and Pillar Two
  • Pillar Two and Treaties 
  • Mutual Agreement Procedure and Multi-lateral Convention within Unified Approach

Learning Objectives

  • To explore how the digital economy and digital economy business models work
  • To identify the difference between digital and physical nexus
  • To recall Article 1 on the Digital economy and subsequent updates
  • To recognize the Unified Approach to tax the Digital economy: Pillar One and Two
  • To recall the new taxing right under Pillar One.
  • To identify the new Global minimum tax under Pillar Two
  • To explore how Pillar One erodes the Arm's Length Standard as the basis for International Taxation
  • To explore the prevention of aggressive unilateral measures and the intense political pressure to tax highly digitalized Multi-national businesses
  • To identify what the future of multilateral tax co-operation will look like
  • To recognize the positive aspect of the Digital transformation: spurring innovation, generating efficiencies, improving services while boosting more inclusive, sustainable growth and well-being.

Who Should Attend?

  • Auditors
  • Bookkeepers & Accountants & Tax Preparers
  • Certified Public Accountant
  • CFO/Controller
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Enrolled Agent
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Professionals
  • Tax Pros
  • Trust & Estate Tax Professional