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The Unified Solution to BEPS challenges in the New Economy: Update on Pillar One and Pillar Two 1 Credit 1 Credit

Dec 08, 2021, 10:30 AM ET

The Unified Solution to BEPS challenges in the New Economy: Update on Pillar One and Pillar Two 1 Credit 1 Credit

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Dec 08, 2021, 10:30 AM ET

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.

Course Overview

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 in this CPE/CE webinar:

  • 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

On Demand Credits for All Qualifications

Live Webinar Credits for All Qualifications

License details Credits Status
Taxes for Certified Public Accountants (CPA-US) 1 CPE Approved
Taxes for Enrolled Agents (EA) (Approval No. GEHNZ-T-00484-21-O) 1 CE Approved
Taxes for Annual Filing Season Program (AFSP) 1 CE Approved
Federal Tax Related Matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-00484) 1 CE Approved
Federal Tax Related Matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-00484-21-O) 1 CE Approved
Certified Wealth Strategist (CWS) 1 CE Eligible
Certified Fiduciary and Investment Risk Specialist (CFIRS) 1 CE Eligible
Federal Tax Related Matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-00484-21-O) 1 CE Approved
License details Credits Status
Taxes for Certified Public Accountants (CPA-US) 1 CPE Approved
Taxes for Enrolled Agents (EA) (Approval No. GEHNZ-T-00484-21-O) 1 CE Approved
Taxes for Annual Filing Season Program (AFSP) 1 CE Approved
Federal Tax Related Matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-00484) 1 CE Approved
Federal Tax Related Matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-00484-21-O) 1 CE Approved
Certified Wealth Strategist (CWS) 1 CE Eligible
Certified Fiduciary and Investment Risk Specialist (CFIRS) 1 CE Eligible
Federal Tax Related Matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-00484-21-O) 1 CE Approved

Additional Information

Credit

1

Course Level

Basic

Instructional Method

QAS Self Study

Group Internet Based

Pre-requisites

None

Advance Preparation

None

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MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering aintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

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MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors.

About Instructor

Attend informative CE/CPE webinars by William Seeger

William Seeger

President, QuantEcon Consulting

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Dr. Seeger is currently a Clinical Professor of Economics at the University of Texas at Arlington, College of Business Administration, and President of Quantecon Consulting, an Economic consulting firm.  The focus of his academic research is Transfer Pricing and International Tax issues. Upon his retirement in October 2014, Dr. Seeger was a Principal in KPMG’s Global Transfer Pricing Services practice. He was practice leader, Economic and Valuation Services, for the Dallas, Houston and Denver Business Units and a senior economist and Southwest area lead for KPMG’s Economic Consulting Practice. Dr. Seeger has twenty years of experience in public accounting and three years’ experience with the Internal Revenue Service as an Industry Economist in the Comprehensive Examination Program. 

In his public accounting career, Dr Seeger specialized in economic and tax issues related to tax efficient structuring of the operations of multinational organizations. He has advised clients on the Transfer Pricing economics related to intercompany financing, deferral, intangible planning, services, shared cost allocations, and operational price setting. While at KPMG, Dr. Seeger led Transfer Pricing teams as part of KPMG's financial statement audits of clients related to Fin 48 matters, assisted in Transfer Pricing Dispute Resolution, helped clients with negotiating and establishing their Advance Pricing Agreements, worked with KPMG's Mergers and Acquisitions teams on Transfer Pricing exposures of potential target acquisitions, and served as part of KPMG's Quality review team finalizing TP reports for release to clients.

As the market leader for KPMG in the Dallas/Denver Business unit, Dr. Seeger had oversight in the areas of Oil and Gas, Engineering and Construction, Consumer and Industrial Business, and Financial Services. He was the Southwest area practice leader for Transfer Pricing services and Economic Consulting Services, the Global market leader for Energy and Natural Resources in the areas of oil and gas, chemicals, utilities, engineering and construction, and mining and forestry, and the National Transfer Pricing leader for the Engineering, Construction, and Procurement industry market segment.

Dr. Seeger has a PhD and MA in Political Economy from the University of Texas at Dallas, with specializations in Industrial Regulation and Econometrics, and a BA in Economics from the University of Notre Dame, with a concentration in Quantitative Economics. He is currently a candidate for a Master’s degree in Jurisprudence in International Taxation from the Texas A&M University Law School.  

On Demand FAQs

What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn CPE credits through self-study?

To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses approved by NASBA and other regulatory bodies?

Yes, all our self-study courses are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the rigorous standards for quality and educational content set by these organizations.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Live Webinar FAQs

What is a Live Webinar Group Internet-Based Credit?

A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. These sessions meet the standards set by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn credits through live webinars?

To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.

Are the live webinars approved by NASBA and other regulatory bodies?

Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.

What are the requirements to maintain compliance with live webinar courses?

To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.

How can I access my webinar completion certificates?

After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

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