2020 Financial Services Tax Conference
2020 Financial Services Tax Conference
EVENT

2020 Financial Services Tax Conference

Adapting to the new normal

A conference of nine virtual panels



  • Adapting to the new normal
  • Agenda
  • Speakers

Adapting to the new normal

Navigating the CARES Act, a heavier reliance on technology to remotely manage tax departments, loan forbearance programs, capital and solvency issues for insurance companies, and distressed debt for partnerships—just a few of many disruptions that are having an impact on each and every sector within the financial services industry.

To examine these issues and the many other challenges we face, KPMG organized a series of sector and tax function specific sessions with a mix of KPMG tax professionals from across a wide range of disciplines along with top in-house tax professionals from leading financial services organizations to share their perspectives, knowledge, and insights.

Below are presentations from each of the sector breakout sessions. For more information, please contact one of the KPMG Tax professional presenters listed in each session presentation. 

Agenda

Banking – How to Keep the Lights on in Your Tax Department – Even if Those Lights Are in Your Own Home

Tuesday, July 14, 2020 | 2:00 p.m.–3:00 p.m. EDT

Tax departments in a remote working environment—the reality of when businesses will “return to normal” is uncertain, even as the “new normal” continues to evolve daily. What doesn’t change is that tax departments still need to keep the lights on, even if those lights are in your own homes. This session will focus on the key operational and technical tax issues that tax departments are facing while we continue to work remotely. Leading the panel will be Brad Brown, KPMG Global Technology Leader and CIO for Tax, who will discuss efficient use of software and technology that is allowing our clients to keep business as usual moving, when the circumstances are anything but normal. Additionally, chief tax officers from some of the world’s largest financial institutions will provide specific examples of the key issues that their institutions are facing during this time.

 

Insurance – Cross Border and International Tax Developments for Insurance Companies

Wednesday, July 15, 2020 | 2:00 p.m.–3:00 p.m. EDT

The session will explore latest developments in BEPS 2.0 and transfer pricing for insurance companies, including the related capital considerations. The session will also identify tax considerations for companies adopting IFRS 17, the newest IFRS standard for accounting and reporting for insurance contracts.

 

Extra Credit: Global Credit Issues for Asset Managers

Thursday, July 16, 2020 | 2:00 p.m.–3:30 p.m. EDT

Attendees will gather an understanding of managing structural issues surrounding COVID-19, including substance, management, and control, and PE risks for treaty platforms and general partners. The discussion will also include developments related to loan seasoning with respect to related and unrelated parties and how the market disruption and valuations may raise issues. The panel will also address ATAD I, ATAD II, DAC6, and other developments that are key to the European market.

 

Tax Dispute Resolution – Developments and Trends – U.S. and Global

Friday, July 17, 2020 | 2:00 p.m.–3:00 p.m. EDT

This session will cover new developments in the tax disputes area, providing insights into today’s challenging environment with a focus on issues and practices particularly relevant to the financial services industry. We’ll address how revenue authorities have dealt with the current COVID-19 environment and what can be expected in the coming months. Will resolution become easier or more difficult? And will the path to certainty become more difficult to navigate? This session will address developments both in the IRS and in key jurisdictions elsewhere in the world. Panelists will include Sharon Katz-Pearlman, global head and national principal in charge, Tax Dispute Resolution and Controversy; Mike Dolan, director, IRS Policies and Procedures, WNT; and disputes professionals from several KPMG member firms in Canada, U.K., The Netherlands, and Europe. 

 

Multistate tax update, including New York and New Jersey, navigating the CARES Act and remote workforce-related implications and opportunities

Monday, July 20, 2020 | 2:00 p.m.–3:00 p.m. EDT

This session will cover navigating the CARES Act and remote workforce–related implications and opportunities from a multistate perspective, including New Jersey tax reform developments, New York’s draft regulations, and other updates in those jurisdictions. We will also cover certain investment management hot topics as well as sales and use tax planning and opportunities related to a remote workforce and the taxation and apportionment of digital businesses.

 

A Global Tour – Transfer Pricing Developments in Policy and Controversy

Monday, July 20, 2020 | 3:30 p.m.–4:30 p.m. EDT

We will hear from leaders in KPMG’s member firms on the various policy developments in key jurisdictions as well as observations around transfer pricing controversy. 

 

U.S. International Tax Update – COVID-19 Impacts and FDII Regulations

Tuesday, July 21, 2020 | 2:00 p.m.–3:00 p.m. EDT

This session will explore international tax issues raised by COVID-19, including permanent establishment concerns, treaty issues, and the impact of losses on GILTI, as well as the newly issued FDII regulations, and the potential impact for the financial services industry.

 

Information Reporting & Withholding (IRW)

IRW: A Year in Review 

Wednesday, July 22, 2020 | 2:00 p.m.–3:00 p.m. EDT

This session will highlight various IRW topics which include COVID-19 impacts, electronic signatures, cancellation of debt and other noteworthy regulatory changes.

 

Information Reporting & Withholding (IRW)

IRW: Hot Topics for Partnerships

Wednesday, July 22, 2020 | 3:15 p.m.–4:15 p.m. EDT

This session will discuss recent information reporting and withholding developments for partnerships, including Section 1446(f) and the proposed regulations regarding partnership reporting. 

 

Speakers

Banking – How to Keep the Lights on in Your Tax Department – Even if Those Lights Are in Your Own Home

  • Brad Brown, KPMG LLP
  • Maggie Fritz, KPMG LLP
  • Lee Moskowitz, KPMG LLP
  • Liz L'Hommedieu, KPMG LLP
  • Bill McNairy, Bank of America 
  • Mark Price, KPMG LLP
  • Garth Roark, KPMG LLP
  • Humberto Roboredo, Morgan Stanley

Insurance – Cross Border and International Tax Developments for Insurance Companies

  • Tal Kaissar, KPMG LLP
  • Philip Jacobs, KPMG LLP
  • Enrique Martin, KPMG LLP

 

 

Extra Credit: Global Credit Issues for Asset Managers

  • Julien Bieber, KPMG Luxembourg  
  • Darren Bowdern, KPMG China 
  • Gareth Bryan, KPMG Ireland 
  • Jay Freedman, KPMG LLP 
  • Sam Riesenberg, KPMG LLP

 

Tax Dispute Resolution – Developments and Trends – U.S. and Global

  • Mike Dolan, KPMG LLP
  • Kevin Elliott, KPMG UK
  • Sharon Katz-Pearlman, KPMG LLP
  • Paul Lynch, KPMG Canada
  • Aldo Mariani, KPMG Meijburg

 

Multistate tax update, including New York and New Jersey, navigating the CARES Act and remote workforce-related implications and opportunities

  • Dilyana Antevil, KPMG LLP
  • Judy Cheng, KPMG LLP
  • Fred James, KPMG LLP
  • Russ Levitt, KPMG LLP
  • Lou Palladino, KPMG LLP
  • Dennis Prestia, KPMG LLP
  • Aaron Shafer, KPMG LLP
  • John Skei, KPMG LLP

 

A Global Tour – Transfer Pricing Developments in Policy and Controversy

  • Maggie Fritz, KPMG LLP
  • Waman Kale, KPMG India
  • Tim Keeling, KPMG Australia
  • Theresa Kolish, KMG LLP
  • Elisenda Monforte, KPMG Spain
  •  Rick Murray, KPMG UK
  • Burcin Nee, KPMG LLP
  • Teresa Quinones, KPMG Mexico
  • Graeme Webster, KPMG UK

 

U.S. International Tax Update – COVID-19 Impacts and FDII Regulations

  • Aditi Banerjee, Prudential Financial
  • Laurie Marsh, KPMG LLP
  • Michael Plowgian, KPMG LLP
  • Clarissa Potter, KPMG LLP

 

 

Information Reporting & Withholding (IRW)

IRW: A Year in Review 

  • Cyrus Daftary, KPMG LLP
  • Hatten-Boyd, KPMG LLP

IRW: Hot Topics for Partnerships
  • Philip Garlett, KPMG LLP
  • Danielle Nishida, KPMG LLP
 

 

Conference presentations

Banking – How to Keep the Lights on in Your Tax Department – Even if Those Lights Are in Your Own Home

Insurance – Cross Border and International Tax Developments for Insurance Companies

Extra Credit: Global Credit Issues for Asset Managers

Tax Dispute Resolution – Developments and Trends – U.S. and Global

Multistate tax update, including New York and New Jersey, navigating the CARES Act and remote workforce-related implications and opportunities

A Global Tour – Transfer Pricing Developments in Policy and Controversy

 

U.S. International Tax Update – COVID-19 Impacts and FDII Regulations

Information Reporting & Withholding (IRW)

IRW Part 1: A Year in Review 

 

 

IRW Part 2: Hot Topics for Partnerships

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