On Thursday, 19 January 2023, Benefitax Managing Director Oliver Biernat had the great pleasure of finally exchanging views on international tax topics in person with tax experts in Nassau/Bahamas at the first global GGI Tax Summit in three years. Jeffery L. Mowery, co-chair of the International Taxation Practice Group, took over the welcome and moderation.
Oliver Biernat presented the most important tax developments in Germany for investors from abroad. The topics included
– Changes in transfer price documentation rules and possible consequences of non-compliance in Germany
– Tax treatment of US LLC’s in Germany. No check the box allowed.
– Determining adequate interest rates for intercompany loans from a German perspective
– Treatment of due diligence costs in successful or failed share deals in Germany
– Problems with German over-indebted subsidiaries and how to avoid them
– Possible triple taxation of income from foreign trusts in Germany.
Afterwards, other speakers provided information on current tax developments from their respective countries:
– Brandon Potocki: Key US Tax Developments 2022
– Niels Webersinn: Opportunities of the German Tax Transformation Law for Companies and Current Challenges
– Fernando Lopezj: Key Inbound/Outbound US International Tax Developments
– Jeffery L. Mowery: Solving the US State Tax Puzzle
– Aasim Hirji Canadian In-Bound Structuring Considerations
The large number of presentations shows that there was a need to catch up in terms of “professional exchange”. Moreover, the personal encounter was a great pleasure and inspiration for Oliver Biernat’s daily work. Many thanks at this point to Jeffery L. Mowery for the perfect preparation of the meeting.