Sponsored by KPMG

The state information reporting and withholding panel will focus on the intersection of state and federal tax policy, operational compliance difficulties, and the importance of a knowledge network to navigate various state reporting and withholding issues.

Sponsored by IHS Markit 

With the maturity of FATCA and CRS regimes, withholding agents continue to face a variety of challenges to ensure ongoing compliance as these regimes mature. The OECD introduced the mandatory disclosure rules to compel intermediaries residing in participating jurisdictions to disclose and report transactions and structures that are designed to circumvent CRS legislation. The Europe Union reached an agreement on a similar initiative (DAC6).

While the OECD MDR focuses only on the circumvention of CRS, DAC6 has a much broader scope and affects many cross-border tax planning structures, even if they are fully in line with the local tax regulations. This panel will discuss the latest updates for FATCA, CRS, MDR and DAC6, as well as the compliance challenges.

The section 1446(f) law and regulations on withholding on sales of partnership interests continue to provide severe challenges to the industry. The repeal of section 958(b)(4) continues to create issues for QI’s and non-QI’s alike, even though most of the negative consequences are acknowledged to be “unintended.”

The section 871(m) requirements, along with the related Qualified Derivative Dealer regime, continue to present a distinct challenge to those charged with implementing these difficult rules. This panel of industry experts, as well as in-house professionals, will provide a general update on these rules and how to successfully navigate the perils of compliance.