This is an exclusive roundtable discussion for CXO’s CFO’s and Sr. IT Executives
OECD and Data Transparency
Sponsored by AMETEK and Jive
Facilitators: Chris Kohl, Chief Information Officer of Vertex and John Viglione, Executive Vice President and Chief Technology Officer of Vertex
Please join Chris and John and invited guests for an interactive discussion on what you need to know about Data Transparency and how the OECD plays a role.
Why should CXO's, Sr. IT Executives and CFO's attend this event?
Governments, including the US, are increasing their capabilities around data analytics. The OECD, with the support of the G20 countries (Including the US), is drafting very extensive recommendations designed for greater data transparency into the financial and transaction systems of corporations. Country-by-Country Reporting (CBCR) is the first standard being introduced. Supporting work indicates the intent to be able to request data, and associated tax reporting ramifications, down to the business transaction level. International transmission protocols are being designed to enable the sharing of this information on a global scale (Making the current treaty system much more efficient) between participating countries. Tax data has one of the longest, if not the longest, life expectancy, of all financial data, as tax audits can span many years of historical data, and include the tax rules and logic behind the business transactions (including transfer pricing). The impact to a company’s data architecture, to support the evolving work of the OECD can be extensive.
Does this apply only to businesses doing international work?
A company is considered international even if it only has a legal presence (minimal operations) overseas that utilizes foreign tax regimes to lower its overall effective tax rate. Additionally, the IRS is now engaged in the work of the OECD. A US domestic only company, even with no transfer pricing / or tax plans, may be impacted by the data transparency concepts and technologies behind the OECD. As the IRS becomes increasingly more capable with efiling, data requests from Information Document Requests (IDRs), its experience with FATCA, and alignment around the direction of the OECD for data transparency, new data transparency requirements may impact domestic firms.
Net, net – the move to “Big Data” like technologies is being opened up to not just companies, but also countries. The work of that the OECD is modeling regarding the concepts of Big Data like solutions and the global sharing of data is an emerging trend that may impact a company’s compliance and data architecture / governance strategies.
Members –Free
Non-Members-$50.00
Non-Member Entrepreneurs-$20.00
**It's not too late to become a member and take advantage of more free and significantly discounted events throughout the year.**
For more information about the event, please contact Kim Tuski ([email protected]).