RSM Voice of Tax & International Trade | AUGUST 2024
Dear reader,
As we navigate through a dynamic and ever-evolving global landscape, we're excited to bring you the latest edition of The Voice of Tax and International Trade. This issue offers timely insights into the critical developments shaping the world of tax and international trade.
Whether you're tackling complex regulatory challenges, optimizing your supply chains, or refining your business strategies, our expert analysis is here to keep you informed and ahead of the curve.
Thank you for your support, and we hope to see you back in two weeks for the next edition of the Voice of Strategy & Sustainability.
Warm regards,
Mario van den Broek RSM Netherlands Tax & Business Consulting Services
High-Value Activities: When Is a Higher Mark-Up or a Share of Profits Justified?
In the dynamic field of transfer pricing, one of the most challenging aspects is determining the appropriate remuneration for high-value activities of executives and top employees within multinational enterprises. The question of whether these intra-group services should receive an above-median mark-up or a share in profits and losses is often not immediately clear and uncertain. This question arises because a high-value activity in one multinational group may not hold the same significance in another. As a result, the choice of the method for determining arm's length remuneration by choosing a mark-up with a higher margin or a profit-split needs to be applied on a case-by-case basis.
Managing Employment Terminations: ?Part II - Settling (equity) incentive plans
With a rapidly evolving labor market, employers need to stay competitive regarding compensation and benefits. Equity participation schemes or other incentive plans are gaining popularity in this respect. Key purposes of such schemes are acquisition, reward, and, above all, retention: creating a long-term bond between the employee and the employer. But what if things don’t go as planned, and the employment comes to an end?
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Will AI kill traditional KYC verification processes?
In the digital age, financial institutions, particularly in sectors like cryptocurrency, online trading, financial institutions with nearly no offices (think of Revolut), rely heavily on digital means for client acceptance procedures to verify the identities of users. These processes are critical for regulatory compliance, particularly under the AMLD (Anti Money Laundering Directive) for preventing fraudulent activities such as money laundering, terrorism financing and identity theft. However, as these procedures move online, they become increasingly vulnerable to new risks, particularly those posed by recent advancements in AI. The development of hyper-realistic videos, known as deepfakes but now generated by AI, presents a significant challenge to the integrity of KYC processes. This article explores the emerging threats posed by AI, particularly deepfakes, to KYC procedures and proposes a framework to mitigate these risks.
EU Green Deal's Plastic Taxation and Its Implications for Businesses
The "EU Green Deal" is a comprehensive set of policy initiatives introduced by the European Commission to transform the economy and society to be climate-neutral and sustainable by 2050. This article provides an overview of the tax-related aspects of the EU Green Deal, particularly focusing on measures related to plastic taxation.
Comparative Analysis of ESG Supply Chain Due Diligence Across Various EU Regulatory Frameworks
The European Union has been progressively tightening its regulatory framework to ensure that sustainability and ethical practices are embedded in supply chain operations. This shift has significant implications for various stakeholders across multiple sectors. In this article, we provide a comparison of different regulatory frameworks: the Corporate Sustainability Due Diligence Directive (CSDDD), EU Deforestation Regulation, Carbon Border Adjustment Mechanism (CBAM), Conflict Minerals Regulation, and EU Forced Labour Regulation.
EU Commission Proposes Definitive Countervailing Duties on Chinese Electric Vehicles
The European Commission has taken further steps in its ongoing anti-subsidy investigation regarding imports of battery vehicles (BEVs) from ?China. The investigation aimed to determine whether BEV value chains in China benefit from illegal subsidization and whether this causes economic disadvantages to EU BEV producers. On the 20th of August, the Commission concluded that both were true and published its draft decision to impose 5-year definitive countervailing duties on these imports. The conclusion of the investigation is still pending during the provisional stage, and parties may provide feedback. This investigation was raised due to the influx of low-priced BEVs from China, which is part of the EU’s strategy to protect its automotive industry from unfair trade practices. Therefore, this article provides an overview of the Commission’s findings, their implications on the EU automotive industry, the Chinese response, and the next steps in this trade defense procedure
If you have any questions regarding these articles, or have an inquiry for our team of Tax and Consulting experts, please contact:
Mario van den Broek ([email protected] - +31 6 15 83 55 00)