The current framework of international corporate taxation—based on the “arm’s-length principle” to split profits of multinationals between countries—is increasingly being challenged by experts, businesses and civil society. New international standards and guidelines under the G20/OECD BEPS initiative aim at addressing key weaknesses in the current framework, but do not tackle the root cause of the significant spillovers inherent to the system. At the same time, digitalization and the growing importance of intangible assets create new challenges. These developments have elevated fundamental discussions on whether the arms-length principle is sustainable. While much has been written about the problems with the current system, much less is known about the advantages and disadvantages of an alternative system, based on a formulary approach to profit attribution. This conference will bring together various experts to discuss these issues.
Participation in the conference is by invitation only.
|Sunday, April 22, 2018|
|11:30||Registration and Coffee|
Vitor Gaspar, Director, Fiscal Affairs Department, IMF
Jan Walliser, Vice President, Equitable Growth, Finance, and Institutions, WBG
Chair: Thornton Matheson (IMF)
Presentation: Maria Coelho, Sebastian Beer (IMF)
|Session 1: Review of issues
|12:45||Luncheon presentation: Update on IMF/World Bank Tax Policy Assessment Framework (“TPAF”)
Ruud de Mooij (IMF), Sebastian James (WB)
Chair: World Bank [tbc]
|Session 2: Panel discussion: Lessons learned from subnational systems
Chair: Vicki Perry, IMF
|Session 3: Panel discussion: Prospects for international taxation
|16:00||Close by Chair|