NEXIA TAX UPDATE Mike Adams Nexia Tax Director Nexia International Tax Conference 2014 Hong Kong

NEXIA TAX UPDATE Results New Developments Future Events Ongoing Support NEXIA TAX UPDATE Nexia International Tax Conference Hong Kong

NEXIA TAX UPDATE Results New Developments Future Events Ongoing Support Nexia International Tax Conference Hong Kong NEXIA TAX UPDATE

NEXIA TAX UPDATE - Results for Tax Rankings in the International Accounting Bulletin World Survey 3 rd GMTS Conference – Bucharest, Romania 1 st Nexia tax training course – Leiden, The Netherlands Regional tax group meetings Nexia International Tax Conference Hong Kong RESULTS

NEXIA TAX UPDATE - Results for Tax Nexia International Tax Conference Hong Kong RESULTS Service line split: Tax (US$m) 1PwC8, EY6, Deloitte6, KPMG4, BDO1, RSM1, Grant Thornton International Baker Tilly International Nexia International Crowe Horwarth743.5

NEXIA TAX UPDATE - Results for Tax Nexia International Tax Conference Hong Kong RESULTS Total Revenue (US$m) 1Deloitte32, PwC32, EY25, KPMG23, BDO6, Grant Thornton International 4, RSM3, Baker Tilly International3, Crowe Horwath3, Nexia International2, Moore Stevens International2,682.1

NEXIA TAX UPDATE - Results for Tax Nexia International Tax Conference Hong Kong RESULTS Service line split: Audit and Accounting (US$m) 1PwC14, Deloitte13, EY10, KPMG10, BDO3, Grant Thornton International 1, RSM1, Baker Tilly International1, Crowe Horwath1, Moore Stevens1, PKF1, Nexia International1, Kreston International917.2

NEXIA TAX UPDATE - Results for Tax Nexia International Tax Conference Hong Kong RESULTS Service line split: “Other” (US$m) 1Deloitte13, PwC9, KPMG8, EY7, Grant Thornton International 1, BDO1, Baker Tilly International Nexia International Crowe Harworth RSM757.0

NEXIA TAX UPDATE - Results for Tax Rankings in the International Accounting Bulleting World Survey 3 rd GMTS Conference – Bucharest, Romania 1 st Nexia tax training course – Leiden, The Netherlands Regional tax group meetings Nexia International Tax Conference Hong Kong RESULTS

NEXIA TAX UPDATE - Results for Tax Rankings in the International Accounting Bulleting World Survey 3 rd GMTS Conference – Bucharest, Romania 1 st Nexia tax training course – Leiden, The Netherlands Regional tax group meetings Nexia International Tax Conference Hong Kong RESULTS

NEXIA TAX UPDATE - Results for Tax Rankings in the International Accounting Bulleting World Survey 3 rd GMTS Conference – Bucharest, Romania 1 st Nexia tax training course – Leiden, The Netherlands Regional tax group meetings Nexia International Tax Conference Hong Kong RESULTS

NEXIA TAX UPDATE Results New Developments Future Events Ongoing Support Nexia International Tax Conference Hong Kong NEXIA TAX UPDATE

On-line Legal and Tax database Tax survey Nexia International Tax Conference Hong Kong NEW DEVELOPMENTS

On-line Legal and Tax database Text Nexia International Tax Conference Hong Kong NEW DEVELOPMENTS

On-line Legal and Tax database Tax survey Nexia International Tax Conference Hong Kong NEW DEVELOPMENTS

NEXIA TAX UPDATE Results New Developments Future Events Ongoing Support Nexia International Tax Conference Hong Kong NEXIA TAX UPDATE

Tax Training GMTS conference International Tax Conference Future Events Nexia International Tax Conference Hong Kong

FUTURE EVENTS Low cost, high value training 10 – 12 July, Leiden, The Netherlands More advanced course than last year Beneficial Ownership, Tax Treaties, double taxation and double non-taxation CPE credits can be arranged Registration open Tax Training Nexia International Tax Conference Hong Kong

Details yet to be finalised but probably will be held 17 – 18 September, In Prague And will be followed immediately by a meeting of the EMEA Tax Group GMTS Conference 2014 Nexia International Tax Conference Hong Kong FUTURE EVENTS

End May / Early June 2015, Copenhagen Feedback from this year greatly appreciated Similar format to this year? Topics for case studies? Meetings of Special Interest Groups? International Tax Conference Nexia International Tax Conference Hong Kong FUTURE EVENTS

NEXIA TAX UPDATE Results New Developments Future Events Ongoing Support Nexia International Tax Conference Hong Kong NEXIA TAX UPDATE

ONGOING SUPPORT Tax Director (Tax) Special Interest Groups Taxlink Website tools: -Tax contact search -Tax article search -The European Holding Company analysis - a unique quality publication -Cross-border database Nexia International Tax Conference Hong Kong

ONGOING SUPPORT Tax Director (Tax) Special Interest Groups Taxlink Website tools: -Tax contact search -Tax article search -The European Holding Company analysis - a unique quality publication -Cross-border database Nexia International Tax Conference Hong Kong

ONGOING SUPPORT Nexia International Tax Conference Hong Kong (Tax) Special Interest Groups -Transfer Pricing: Rajesh Sharma -Indirect Taxes: John Voyez -Global Mobility Tax Services: Sten Günsel -Real Estate: Henning-Günther Wind -Private Wealth: Mike Beattie Business Advisory Group / Advisory Services Committee

ONGOING SUPPORT Tax Director (Tax) Special Interest Groups Taxlink Website tools: -Tax contact search -Tax article search -The European Holding Company analysis - a unique quality publication -Cross-border database Nexia International Tax Conference Hong Kong

ONGOING SUPPORT Tax Director (Tax) Special Interest Groups Taxlink Website tools: -Tax contact search -Tax article search -The European Holding Company analysis - a unique quality publication -Cross-border database Nexia International Tax Conference Hong Kong

ONGOING SUPPORT Nexia International Tax Conference Hong Kong Tax Contact search

ONGOING SUPPORT Tax Director (Tax) Special Interest Groups Taxlink Website tools: -Tax contact search -Tax article search -The European Holding Company analysis - a unique quality publication -Cross-border database Nexia International Tax Conference Hong Kong

ONGOING SUPPORT Nexia International Tax Conference Hong Kong Tax article search -By country -By date -By author

ONGOING SUPPORT Tax Director (Tax) Special Interest Groups Taxlink Website tools: -Tax contact search -Tax article search -The European Holding Company analysis - a unique quality publication -Cross-border database Nexia International Tax Conference Hong Kong

ONGOING SUPPORT Nexia International Tax Conference Hong Kong -32 countries -17 aspects for each country

ONGOING SUPPORT Tax Director (Tax) Special Interest Groups Taxlink Website tools: -Tax contact search -Tax article search -The European Holding Company analysis - a unique quality publication -Cross-border database Nexia International Tax Conference Hong Kong

Nexia Tax Committee EMEA John Voyez (UK) Robert Langston (UK) Chris Leenders (The Netherlands) Asia/Pacific Lam Fong Kiew (Singapore) North & Central America Jonathan Bicher (Canada) Tim Ross (US) South America Diego Bonomi (Uruguay) Chair: Jim Wall Nexia International Tax Conference Hong Kong ONGOING SUPPORT

EU VAT rates 2013 (with corporate tax rates in red) brackets) Austria20%(25%) Belgium21%(33.9%) Bulgaria20%(10%) Croatia25%(20%) Cyprus18%(12.5%) Czech Republic21%(19%) Denmark25%(25%) Estonia20%(21%) Finland24%(24.5%) France20%(33.33%) Germany19%(29.55%) Greece23%(26%) Hungary27%(19%) Ireland23%(12.5%) Average EU VAT rate 20.36% (22.85%) Italy21%(31.4%) Latvia21%(15%) Lithuania21%(15%) Luxembourg15%(29.22%) Malta18%(35%) Netherlands21%(25%) Poland23%(23%) Portugal23%(25%) Romania24%(16%) Slovak Republic20%(23%) Slovenia20%(17%) Spain21%(30%) Sweden25%(22%) UK20%(23%) Nexia International Tax Conference Hong Kong And Finally

EU VAT Plan for Indirect Taxes as well as direct taxes Penalty regimes are getting tougher Most overseas companies doing business in the EU should register for VAT. Only 450 have – unfair competition for your clients? Similar compliance problems in other regions? Nexia International Tax Conference Hong Kong And Finally

IN SUMMARY, DON’T FORGET Tax Training Course: July, the Netherlands GMTS Conference: 17–18 September, Prague International Tax Conference: End May/Early June 2015, Copenhagen VAT Nexia International Tax Conference Hong Kong NEXIA TAX UPDATE

Any Questions? Nexia International Tax Conference Hong Kong NEXIA TAX UPDATE

THANK YOU Mike Adams D: +44 (0) M: +44 (0) Nexia International Tax Conference Hong Kong