We look forward to welcoming you to this year's KPMG Nordic Financial Services Tax Conference.
In today's world, we are witnessing unprecedented political change globally, alongside major technological changes, impacting how tax and financial operations are managed and driven. At this year's conference, we will explore the latest developments, challenges and trends that impact and reshape tax for financial services industry in the Nordic region and globally.
We will look at how technology is changing the world of tax, and how the financial industry can stay ahead of this development and leverage on the opportunities. Trust and responsible tax as a business imperative are also some of the themes that will be covered during the conference.
We will bring together market-leading tax experts and leading industry figures to deliver insights and explore the newest trends within areas such as responsible tax, technology enablers, Mandatory Disclosure Rules, latest developments within VAT and other topics specially tailored for all areas of financial services industry.
Plenary sessions will address the big picture, whilst smaller breakout sessions will dive deeper into the technical implications of the topics raised.
Marienlyst Strandhotel will provide an appropriate setting for reflection, debate and networking with your peers.
Below, please find the official programme.
THURSDAY 10 OCTOBER 2019 (Day 1)
9:30-10:00 Registration and check-in
10:00-11:45 Plenary 1
Ria Falk (Partner & Chairman of the Board at KPMG Acor Tax) and Claus Bohn Jespersen (Managing Partner at KPMG Acor Tax) will open the conference.
What does the future of tax technology look like, and how do we prepare for it in the ever changing and disrupted world of tax? Our key presenters will address different tax disruptors and also shed some light on technology enablers that can help us navigate through the process.
Michael Kirkegaard Nielsen (Head of Group Tax at Danske Bank) will share his perspective on how to navigate Tax Risk Management for a global financial institution operating in a disrupted world of tax.
David Currie (Vice-President, Indirect Tax at BlackRock) will give his perspective on how his firm has used technology and process improvements to address global indirect tax compliance to date and how they are approaching the challenges arising from digital disruption as they plan for the future of tax.
Bent Dalager (Partner and Nordic Head of NewTech at KPMG Denmark) will give his view on digitalisation and on the future of tax. Bent will take us through main drivers of digital transformation and provide perspective on what the future of tax might look like as artificial intelligence kicks in.
12:00-13:00 Breakout session – Group 1
Mandatory Disclosure Requirements (MDR) – where are we now?
In this roundtable session, we will discuss how to apply MDR in practice. Raluca Enache from the KPMG EU Tax Centre will contribute to the discussions and provide an overview of the MDR rules across Europe, including sharing the experience that relates to how financial institutions are approaching compliance. We will also give a Nordic update on the approach to MDR in the Nordic region with specific country updates.
VAT – automation of VAT handling in the FS sector
This session will explore the opportunities of automating VAT compliance with link to real-life cases.
14:05-15:00 Breakout session – Group 2
Taxation of the hybrid capital
How does the taxation look like from both investors' and the financial institutions' perspective? We will share our perspective on each of the separate elements of the hybrid capital, including proceeds from issuance, interest costs, repayment, deductibility, capital gain taxation and withholding taxes.
VAT – recent developments in the Nordic
Get to know more about the latest developments concerning the pro rata deduction in both head offices and branches in the light of the recent case law by the European Court of Justice, including the referred case C-165/17, Morgan Stanley.
15:30-16:30 Breakout session – Group 3
What is new on withholding taxes and investment fund taxation?
In this session, we will provide a Nordic update on how to ensure that withholding tax exemptions and reductions are applied for the financial institutions – what is the news on operational matters as well as eligibility. The session closes with an update on OECD Trace and net withholding models as well as impact of the recent Fidelity Fund case and beneficial owner cases.
Update on tax treatment of Nordic cross-country employees in the financial sector
Join a session that will provide you with the latest developments on Nordic taxation for mobile employees and input on how to manage and optimise the employee tax issues in a cross-border financial institution.
18:00-22:00 Conference dinner
FRIDAY 11 OCTOBER 2019 (Day 2)
9:15-10:00 Plenary 2: Responsible Tax – an industry perspective
Ria Falk (Partner in Corporate Tax and Chairman of the Board at KPMG Acor Tax) will open this plenary and set the scene for some highly interesting industry perspectives on this topic.
Christopher Morgan (Head of Global Tax Policy at KPMG International) will provide the global perspective on the topic of responsible tax.
Sanne Camilla Jensen (Head of Tax at PFA), and Steffen Bonde (Tax Business Partner at ATP) will share their experience on how the role of the Tax Director is evolving in terms of managing the "responsible tax" agenda and what could be best practice to strike the right balance aiming to demonstrate social responsibility when investing.
10:30-11:30 Breakout session – Group 4
Responsible Tax in practice
Join a discussion on the latest news on international initiatives on tax transparency matters (e.g. UN PRI), trends and latest news on industry tax policies and how to adopt responsible tax principles in the everyday business of the institutional investor.
VAT – defining 'special investment funds' and hot topics in the Dutch FS sector
What are the latest developments within the concept of "special investment funds" and how to navigate through those? Gert-Jan van Norden (Partner at KPMG Meijburg office in the Netherlands) will be keynote speaker in this session. Gert-Jan is involved in a Dutch case concerning the scope of the VAT exemption for special investment funds in relation to the pensions sector.
11:45-12:45 Breakout session – Group 5
Investment structuring – in the light of Nordic BEPS/ATAD implementation
Get updated on the implementation of the OECD Base Erosion and Profit Shifting rules and the EU anti-avoidance directive across the Nordics. We will also discuss recent beneficial owner cases and how investment structuring is impacted.
Defining fund 'management' and hot topics in the UK FS sector
Understand the concept of 'management' and get familiar with the latest developments within this area. Peter Dylewski (Global FS Indirect Tax Leader at KPMG) will be keynote speaker in this session. Peter is involved in discussions with the UK tax authority around the referred case C-231/19, BlackRock Investment Management on whether a single supply of fund administration can be apportioned between exempt and taxable funds.
Mike Barnard (Global Head of Indirect Tax at BlackRock) will offer his perspective on the practical commercial challenges for fund managers arising, inter alia, from variances in interpretation as to the proper extent of the fund management exemption across the EU.
12:45-13:00 Plenary – conclusions and perspectives
13:30-14:00 Transportation to Kronborg Castle (walk)
Only relevant if you join kronborg guided tour
14:00-15.00 Kronborg guided tour (optional)
Explore the magnificent history of Kronborg Castle on a guided tour, and visit the very place of origin of taxation! The guided tour will give you a glimpse of the old castle, where you will among other things see the casemate where Holger Danske is located, the towers and the ballroom. Everything while the guide is taking us through the history.
Kronborg is located in Helsingør, not far from Marienlyst Strandhotel (approx. 1.5 km). The location is the narrowest place of Øresund, which made it a perfect location for collecting duties for passing through.
Follow this link to register for the 2019 KPMG Nordic Financial Services Tax Conference.
The registration covers your attendance at the Plenary, Breakout sessions as well as the Conference lunches and Conference dinner – all covered by KPMG. It does not include accommodation, flights and transfers.
If you have any difficulties registering, please email firstname.lastname@example.org with your details. We will contact you within 48 hours.
The conference venue is located at Marienlyst Strandhotel, which is Denmark’s most fascinating and interesting Seafront hotel. Here, you will become part of a unique history going all the way back to 1861 when you could find royal regulars, hilarities and stylish pampering.
Please note that you are expected to arrange the accommodation on your own. We will highly recommend you to choose the conference hotel for logistic purposes and have therefore asked Marienlyst Strandhotel to hold a limited number of rooms for KPMG guests during conference days. When booking, please inform that you will be attending KPMG conference.
Please contact Bettina Marcussen, Event coordinator from Marienlyst Strandhotel via e-mail email@example.com for booking.
We are pleased to accommodate dietary or other requirements. Please provide details when you register. We will use this information for the purposes of managing the Conference. It will not be retained by KPMG.