25 May

Industry solutions for the latest regulatory and operational tax challenges for banks

Onsite again! We were delighted to be back again onsite at a face-to-face conference to see everyone in person and not just on a screen, to shake hands and to chat over coffee in a live setting at the venue of an event for top experts in taxation. All presentations, speeches and panel discussions took place on a high-quality level, involving a very active audience asking questions and discussing different opinions.

The conference marked the beginning of the return to onsite events and gathered the “hard core” of more than 35 experts in taxation, reporting and digitalisation of tax. The participants were happy to meet old friends, to join in on different conversations and to actively participate in numerous interesting sessions and panel discussions. It was very important for us from SDS to finally meet people in person again, to exchange information with the community about the latest developments and requirements in the operational tax arena and to join expert talks.

On the agenda was a mix of standard tax topics, new tax developments and topics related to the digitalisation of tax and crypto reporting. After listening to the opening words of Peter Grant from KPMG, we enjoyed a very interesting speech by Mark Huyan from JP Morgan. He presented and explained CARF (Crypto-Asset Reporting Framework) and the current status on OECD public consultation in this matter. The talk included a critical review of the challenges in regard to reporting in the crypto world, which is anonymous by design.

The conference proceeded with an overview of the digitalisation of tax, followed by a discussion about current expectations around meeting audit requirements, especially in regard to meeting the new requirements concerning CRS (Common Reporting Standard). Environmental taxes and ESG tax developments across Europe were also part of a short discussion.

The second half of the day was dedicated to OECD TRACE. Katja Pussila from Vero Skatt (Finnish Tax Administration) presented astonishing, positive results from the first year of the TRACE regime in Finland. In summary, individual investors already benefitted exceptionally well from TRACE in the first year alone. This proves that there is no reason not to adopt TRACE throughout the EU. This talk formed a solid basis for the next vivid panel discussion, which featured the SDS tax expert Susanne Rauscher-Nwokedi. She explained how the OECD TRACE initiative could be integrated at EU level and which measures would be needed for such a wide-scale adoption of TRACE.

From the point of view of SDS, it was a very successful event which enabled us to meet our colleagues from the operational tax community in person and to discuss current and future developments in the tax arena.

Observation by:
Hrvoje Kajzer

Feel free to contact me for further information, an expert chat or any discussion about above-mentioned topics.

Some highlights from the conference:
SDS booth

Panel discussion about the future of OECD TRACE at EU level with SDS panellist Susanne Rauscher-Nwokedi.

Katja Pussila of Vero Skatt (Finnish Tax Administration) presenting the outcome of the first TRACE reporting in Finland this year.

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Hrvoje Kajzer
Sales Account Manager