Chartered Institute of Taxation Conference - Details

Last Friday (17 June 2005), I attended at IBFD premises the European Branch Conference of the Chartered Institute of Taxation.

The program was very interesting. It started with a discussion of the potentially far-reaching new UK Rules on Tax Arbitrage by Mike Hardwick of Linklaters. Hans Pijl of Deloitte followed with the uses that can be made of hybrid entities and structures both generally and specifically in the Netherlands. After lunch, Simon Whitehead of Dorsey & Whitney explained his view on the pending Marks & Spencer case and gave an overview of the pending related "group loss cases" that his firm is involved: CFC & insurance dividend taxation, ACT Class 4, FII & dividend taxation, and Thin Cap. This cases are expected to be decided by the ECJ late this year or beginning of 2006. The following discussion involved the abuse of rights principle in EC law. VAT experts Paul Connolly (of Chiltern Plc) and Han Kogels (non-Executive Chairman of the IBFD) discussed the developments of the abuse of rights principle in EC law on the basis of Halifax Case (C-255/02). Finally, Waine Weaver of Deloitte discussed the UK Tax Issues that result from developments in International Accounting Issues and Remco van der Linden of PricewaterhouseCoopers dealt with the issue of International Financial Reporting Standards (IFRS) and its impact for tax (accounting), mainly key principles of deferred tax accounting and the consequences of IFRS for tax purposes.

The Chartered Institute of Taxation (CIOT) is the leading professional body in the United Kingdom concerned solely with taxation. The 13,000members of the CIOT have the practicing title of ‘Chartered Tax Adviser’. The CIOT recently launched an Advanced Diploma in International Taxation. For more details click here.