Nexia Global Indirect Taxes SIGHong KongJune 2014

John VoyezSmith & Williamson

• Half day EMEA Indirect Tax meetings twice a year• The need to develop an Indirect Taxes Group has gathered momentum• SIG formed early 2012• Committee members from EU, Australia, India, Canada, America, and Singapore• Produced our first Indirect Taxes newsletter in April 2012• Met in Miami 2012 and Rome 2013

Indirect Taxes SIG - Where we have been ?

• EMEA half day meetings now attracting over 30 attendees• Good momentum in the EU where VAT is already and mature and well respected

tax and professional discipline• In Hong Kong we have held two more SIG’s with good attendance, interest and

debate• We have just produced our fourth Indirect Taxes newsletter• Newsletter and meeting notes are on the Nexia website• Have been asked to advise on a number of cross country VAT projects where local

advice is essential• Talk in Miami to American Bar Association and American accounting firms on VAT

Indirect Taxes SIG - Where we are?

• Indirect Taxes are the future of global taxation – there is an undeniable shift away from direct tax toward indirect taxes

• Increasingly local indirect tax projects will take on a cross border element as the world becomes a smaller place.

• It will be essential that there are good advisers in place in Nexia firms around the world.

• There a funding and logistics issues – we cannot all get on an airplane and fly off for an indirect taxes conference – but that is the future.

• We continue with the newsletters and the meetings which raise the profile of indirect tax and the need for advice.

• End game is to have a competent professional network of global indirect tax advisers within Nexia who can respond and add value.

• Any tax checklist for a cross border project should already have indirect taxes on it – we aim to elevate indirect taxes to the top of the checklist

Indirect Taxes SIG - Where we are going to ?

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John VoyezSmith & Williamson