WTS Global Company Profile 2017 WTS Global: The leading independent - - PowerPoint PPT Presentation
WTS Global Company Profile 2017 WTS Global: The leading independent tax network Founded in 2003 by WTS Germany More than 130 countries Over 3,500 tax professionals Fully fledged tax service portfolio No audit, free from
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» Founded in 2003 by WTS Germany » More than 130 countries » Over 3,500 tax professionals » Fully fledged tax service portfolio » No audit, free from conflict » Stringent quality reviews » Centrally managed organisation » Broad client base: From multinationals to private clients
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» Over 100 hand-picked partner firms » Recent tax awards within WTS Global include (inter alia)
› Chambers and Partners
(continuously since 2012) › International Tax Review
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» Loyal partners, keeping our promises » Quick response times and needs-based solutions » Responsible conduct and long-term strategy of cooperation » Open-minded: Having an entrepreneurial spirit » Keen-spirited: Always curious about new developments and trends » Inquisitive challengers: Creating inventive solutions for ever-changing challenges » Forward thinkers: Pioneering digitisation and the development of IT tax tools » Working with pleasure and enthusiasm » Taking responsibilities and objectives with a high degree of personal commitment » Fully dedicated and people-focused: supportive and caring » Technical competence of the highest standards » Top quality services » Highly efficient, customised implementation of practical solutions » Unique expertise based on multiyear experience in industry, financial management and consultancy
» Multinational companies » Small and medium-sized companies » Non-profit organisations » Private clients & family offices
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» Corporate Tax » Mergers & Acquisitions » Transfer Pricing & Valuation Services » Indirect Tax » Customs » Private Clients & Family Office Services » Global Mobility » Tax Controversy » International Tax and Permanent Establishments (ITP) » Financial Services » Real Estate » Tax Technology
Global services Additional cross-cutting services
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BEPS – Litigation and Arbitration Digitisation Tax Control Framework Business Partnering EU Audit Reform US Tax Reform VAT in the GCC
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Global trend: Business Partnering
» Client benefits
» Increaseing quality and flexibility » Reducing overall costs » Retaining in-house expertise and gaining permanent access to specialists around the world » Keeping governance and control in-house » Choice of tailored scope of services » Saving resources for strategic activities
» WTS Experience
» < 15 years (WTS Germany) » 50% of WTS Germany„s turnover
“A pioneered deal” by International Tax Review (Feb 8, 2017)
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Tax sector is changing
Global trend: Digitisation
Opportunities for companies WTS develops individual, future-proof solutions » Tax processes are re-defined and largely automated worldwide » Integration of mass data, artificial intelligence (AI) and IT tools » Increased process and cost efficiency » Increased compliance safety, minimisation of liability risks » Many years of experience in digital process consulting » In-house tax tool experts » Validated set of IT tax tools » Evaluation of innovative concepts in cooperation with top researchers » Establishment of solutions which closely link tax functions and business processes
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A total of 15 action items of the OECD against aggressive tax planning
Global trend: BEPS (Base Erosion and Profit Shifting)
Opportunities
Smart use of process-supporting tools: » Minimising tax risks » Fulfilling reporting requirements in a reliable and efficient way » Using data in parallel with optimisation of the existing transfer pricing system
Need for action
7: Business premises » Checking existing structures and projects for undetected business premises 13: Documenting transfer prices » Introducing Master File (revenue ≥ € 100m) » Preparing a country-by-country report (consolidated revenue ≥ € 750m)
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Global trend: Tax Control Framework
Cooperative Compliance
» Internal revision » Tax audit (incl. joint audit) » Audit
» Control
» Data analytics / mass data » Tax audit simulation › Profit tax › Sales tax › Income tax › Customs duties
» Analysis
» Timely company audit » Tax control framework » Checking processes and systems through tax audit » Use of tax technology
» Prevention
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Trend: EU Audit Reform
* Affects, for example, US investors ** Cooling-in phase is 6 years; joint audit is obligatory if company is a PIE, i.e. basically two auditing companies are „conflicted“
Many companies are affected, especially capital market-oriented companies, banks and insurance companies » Germany
» Prohibited non-audit services during cooling- in phase (1 year) and auditing activities: › Customs, income tax, tax control framework, tax asset management › Tax advisory services with considerable reduction of the tax base or with transfer
structure, transfer pricing, Luxembourg/Ireland Model* » Fee cap: Permissive non-audit services of
past three years
» Other EU countries
» Increased complexity with transnational activities » Due to stronger regulations by numerous EU countries, it is necessary to frequently change advisors abroad, e.g. › Basic prohibition of tax advisory services, e.g. in France › Expansion of affected companies, e.g. Italy, Spain › Longer cooling-in periods, e.g. France**, Portugal, The Netherlands
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Global trend: US Tax Reform
» Intended to encourage domestic growth and make the US Tax Regime more competitive globally » No tax legislation currently in progress » Timing delayed due to Administration decision to repeal Obamacare as first priority » 2017 enactment questionable Possible components of corporate tax reform
» Reduced corporate income tax rate (various rates from 15% to 20% have been proposed) » Move from worldwide tax to a territorial tax system » Reduction or elimination of interest expense deduction » Eliminating various “special interest” deductions and credits » One-time tax on existing offshore deferred profits » Eliminating a number of corporate deductions » Immediate deductibility of cost of certain capital investments » Potential changes in Net Operating Loss rules » Repeal of Medical Device Tax separately through Healthcare legislation
True tax reform vs. Tax rate reduction? Revenue neutrality vs. Increase to the deficit?
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Global trend: VAT in the GCC
» Opportunities
» Training » Impact assessment and diagnostic reviews » Tax advisory and strategy » Implementation assistance and redesigning business processes » VAT audit, compliance support and
» Need for action
» Awareness » Business impact » Systems & documentation » Compliance
» Introduction of 5% VAT in GCC covering the UAE, Bahrain, Saudi Arabia, Oman and Kuwait » Anticipated implementation in 2018
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Organised as a matrix structure
Americas Asia Pacific Africa Europe TP Indirect Tax M&A ITP* Private Clients Global Mobility Digital Solutions
*International Tax & Permanent Establishments WTS Global - Company Profile
Scope of Services:
» Planning and implementation of TP systems and TP policies » OECD BEPS-compliant TP documentation and economic analyses » TP advice in business restructurings » Defense in TP tax audit and litigation matters » Advice and assistance in APAs and MAPs » Valuation for TP purposes, including IP and exit taxation matters
IT-Tools:
» TPmanager » CbCR Manager » CbCR-2-XML Manager
Areas of Focus / USPs:
» IT-supported solutions for transfer pricing » Combined expertise from former in-house tax departments, consulting and tax administration » Interdisciplinary team of certified tax advisers » Economists and lawyers Jared Walls Partner Economic Partners (Morristown, NJ) +1 (0) 530 301-1818 jared.walls@econpartners.com Maik Heggmair Partner WTS (Munich) +49 (0) 89 28646-212 maik.heggmair@wts.de
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Service line: TP
Service line: Indirect Tax
Scope of Services:
» VAT Risk Management » VAT Compliance and Declarations » Transactions and Restructurings » Supply chain modelling » Pro-rata calculations » Ongoing VAT advice » VAT Litigation
IT-Tools:
» VAT Manager » VAT@GTC » VAT Analyzer » eVAT reporting » TRACE-SII-REPORTINGmanager
Areas of Focus / USPs:
» Financial Services and Real Estate focus » Specific VAT Technology know-how (including SAP & Oracle configurations) » European Indirect Tax Firm of the year 2017 2 Leading U.S.-based Financial Institutions Leading Global Insurance & Funds Group
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Jürgen Scholz Partner WTS (Duesseldorf) +49 (0) 211 2005-0677 juergen.scholz@wts.de
Service line: M&A
Scope of Services:
» Due Diligence » Tax Structuring » Tax Model Fund Flow Papers » Management Participation » SPA Advice » Acquisition Financing » Post-Deal Integration
Areas of Focus / USPs:
» Full scope offering in M&A Tax Services » Additional full scope offering in M&A Financial Advisory Services » Our member firms are highly ranked in M&A tax » Partner-led throughout the project » Broad industry expertise
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Stefan Hölzemann Partner, Managing Director WTS (Munich) +49 (0) 89 28646-1200 stefan.hoelzemann@wts.de
Service line: ITP
Scope of Services:
» Tax consulting in project offer phase including assessment of tax impacts/risks from a cross border project in home and project country » Tax advice and ongoing support after project win and contract conclusion/prolongation » Review and recommendations on tax clauses and other tax relevant aspects of contracts » Advice on HR and Social Security » Permanent Establishment Tax Compliance
Areas of Focus / USPs:
» Strong focus but no limitation to construction, engineering and service sector » Permanent establishment (PE) related tax consultancy and compliance assistance
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Sonja Wiesner Director WTS (Munich) +49 (0) 89 28646-1260 sonja.wiesner@wts.de
Service line: GES
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Scope of Services:
» Tax consulting services incl. › Arrival and exit meetings › Preparation of tax declarations for individuals and global coordination › Preparation of assignment guidelines incl. design of tax equalization models › Advice on the avoidance and processing of permanent establishments » Legal Consulting Services incl. › Contract drafting and review from a domestic and foreign labor law perspective › Examination of social security status incl. application for certificates of coverage › Advice on immigration law and application for visa, resident and work permits
Areas of Focus / USPs:
» Well coordinated team and strong linkage with all our partner firms » Comprehensive support from a single source » Integrated approach – tax, social security, labor and immigration law Frank Dissen Partner WTS (Frankfurt) +49 (0) 69 133 84-5652 frank.dissen@wts.de
Service line: Private Clients
Areas of Focus / USPs:
» Interdisciplinary approach » Team consists of tax experts and civil law professionals » Extensive expertise in automating processes using tax tools
IT-Tools:
» WTS - QPLIX asset controlling tool
Scope of Services:
» Expert advice in all tax and civil law matters for companies and owners » Solutions for successions, prenuptial and testamentary agreements, and other life events » Structures for the protection of assets (foundations, trusts, limited companies) » Preparation of tax returns, investments schemes, income arrangements » Assistance with charitable activities
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Partner WTS (Munich) +49 (0) 89 28646-1579 franz.angermann@wts.de Gerd D. Goyvaerts Partner Tiberghien (Brussels) +32 (0) 2 77340-00 gerdd.goyvaerts@tiberghien.com
Karsten Gnuschke
Partner WTS Group Germany
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10 directors from 4 continents
Stefan Hölzemann
Partner WTS Group Germany
Fritz Esterer
Chairman of the Board CEO WTS Group Germany
Bernard Peeters
Partner Tiberghien Belgium
Luis Rogerio Farinelli
Partner Machado Associados Brazil
Francis J. Helverson
Partner WTS LLC USA
Edward Mwachinga
Partner and Co-Founder Viva Africa Consulting Kenya
Magdalena Saja
Partner and Founder WTS & SAJA Poland
Shanker Iyer
Partner and Founder Iyer Practice Singapore
Rakesh Dharawat
Partner Dhruva Advisors India
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Wim Wuyts CEO Karsten Gnuschke Global Coordinator Marie Christin Shenouda Business Development Ute Lehmann QPRM Thomas Melcher Legal Alexa Wirtz Business Development Kelly Mgbor QPRM & Business Development
20+ years operational tax experience
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Sarah Chaillié Business Development
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QPRM Effective tools & processes Integrity as guiding principle Board approval of new network partners Central and regional QPRM teams
» Quality handbook » Centralized compliance check » Detailed questionnaires » Regular onsite reviews for new and existing member firms
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Karsten Gnuschke Western Europe Beverly Pacansky Americas Zoltán Lambert Central and Eastern Europe Shanker Íyer Asia Pacific Edward Mwachinga Africa
Regional tasks
» Win new network partners in the region » Implement QPRM reviews » Conduct regular service line meetings » Promote joint marketing activities » Enforce WTS Global brand
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Argentina • Rosso Alba, Francia & Asociados Bolivia • Guevara & Gutierrez S.C. Brazil • Machado Associados Chile • Espinosa y Compañia Abogados Colombia • Lewin & Wills – L&W Costa Rica • Facio & Cañas Dominican Republic • De Castro, Rivas & Rodriguez Ecuador • Lawnetworker El Salvador • Romero Pineda & Asociados Guatemala • Mayora & Mayora Honduras • Gufa Law Mexico • Turanzas, Bravo & Ambrosi Nicaragua • Alvarado & Asociados Panama • Rivera, Bolivar & Castañedas Paraguay • Ferrere Abogados Peru • Rubio Leguia Normand & Asociados Uruguay • Ferrere Abogados Venezuela • Torres, Plaz & Araujo – TPA
Comprehensive tax and legal service capabilities in 18 Latin American countries
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» World leading tax expertise » No audit, free of conflict » Award-winning, passionate partners » Innovative, pragmatic solutions » Trusted quality
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Name
[Address] [Country] Phone: Mobile: Email: WTS [XXX]
Position
We are looking forward to working with you!
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Additional slides
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» Technical competence of the highest standards » Top quality services » Highly efficient, customised implementation of practical solutions » Unique expertise based on multiyear experience in industry, financial management and consultancy » Loyal partners, keeping our promises » Quick response times and needs-based solutions » Responsible conduct and long-term strategy of cooperation » Open-minded: Having an entrepreneurial spirit » Keen-spirited: Always curious about new developments and trends » Inquisitive challengers: Creating inventive solutions for ever-changing challenges » Forward thinkers: Pioneering digitisation and the development of IT tax tools » Working with pleasure and enthusiasm » Taking responsibilities and objectives with a high degree of personal commitment » Fully dedicated and people-focused: supportive and caring
WTS
Fritz Esterer CEO WTS Germany and Chairman WTS Global
From the early days, I was convinced that WTS Germany could only be successful within a global set up. Thus, we invested heavily in building an organization of hand-picked tax companies all over the world that have the same DNA and with whom we could jointly continue to grow with.
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I am impressed with what WTS has achieved in only 15 years. I am proud to be part of the
partner firms worldwide are all passionate to build THE leading independent tax network. For the African region, I can proudly say that this mission is completed.
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Autor Autor Autor AutorEdward Mwachinga Partner Viva Africa Consulting LLP Nairobi, Kenya
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Joining WTS Global gives us the
The people we work with are highly
broad tax service portfolio which I have not come across in any other network previously.
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Autor Autor Autor AutorShanker Iyer Founder and Chairman, Iyer Practice Advisers Singapore
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It is immediately apparent that several players have a corporate background. They can very quickly adapt themselves to the necessities of a head of tax matters in an industrial company. This is a valuable asset. One gets to the point quickly.
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Karl-Heinz Drefs Head of Taxes, Customs, M&A; Audi AG (until 03 / 2017)
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I can always be sure that when I need a consultant with particular qualifications somebody is sent who fits in perfectly.
If I say I need a consultant with a certain qualification, I get one that fits my exact
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Global Head of Tax, Osram Licht AG
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