Joint Tax and Business Economics Committee Video Conference: GILTI and the Transition Tax
Date and Time
Monday Jun 29, 2020
9:00 AM - 10:00 AM ICT
Location
Video Conference
Fees/Admission
Free of charge for AMCHAM members only
Non-Members 1,000 THB
Contact Information
Tel. 063 535 0727 or 063 535 0728
Send Email
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Description
Global Intangible Low-Taxed Income (GILTI) was introduced as a concept by the Tax Cuts and Jobs Act, creating additional work, stress, confusion, and - of course - taxes for foreign corporate subsidiaries of U.S. taxpayers. This impacts not only multi-national corporations, but U.S. owned SMEs.
Some taxpayers have not yet addressed these issues, but this approach comes with high risk. On a properly filed tax return, the IRS has all the information it needs to determine whether reporting should have been done, as well as make an assessment. However, there are still some options for compliance. All of this makes it very important to be aware of these laws and learn if they apply to you.
This video conference will cover
· What foreign subsidiaries are subject to these laws
· The U.S. policy behind the laws
· The flaws with the application of the laws
· The basics of the calculation
· Mitigation options and future planning
· Options to fix noncompliance
About the Speaker
Josh Maxwell is a partner at Hone Maxwell LLP and a special counsel attorney with the ASEAN Law Firm The Mahanakorn Partners Group Co. Ltd. (MPG). Mr. Maxwell is a licensed U.S. attorney and CPA. His practice focuses on international tax and federal, state and local tax issues, particularly civil and criminal tax controversy defense. Mr. Maxwell advises clients on a wide variety of international tax issues including the Offshore Voluntary Disclosure Program, FATCA, treaties, IRS informational reporting, and legal needs for expanding into the U.S. market.
Some taxpayers have not yet addressed these issues, but this approach comes with high risk. On a properly filed tax return, the IRS has all the information it needs to determine whether reporting should have been done, as well as make an assessment. However, there are still some options for compliance. All of this makes it very important to be aware of these laws and learn if they apply to you.
This video conference will cover
· What foreign subsidiaries are subject to these laws
· The U.S. policy behind the laws
· The flaws with the application of the laws
· The basics of the calculation
· Mitigation options and future planning
· Options to fix noncompliance
About the Speaker
Josh Maxwell is a partner at Hone Maxwell LLP and a special counsel attorney with the ASEAN Law Firm The Mahanakorn Partners Group Co. Ltd. (MPG). Mr. Maxwell is a licensed U.S. attorney and CPA. His practice focuses on international tax and federal, state and local tax issues, particularly civil and criminal tax controversy defense. Mr. Maxwell advises clients on a wide variety of international tax issues including the Offshore Voluntary Disclosure Program, FATCA, treaties, IRS informational reporting, and legal needs for expanding into the U.S. market.
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Contact Details
101 True Digital Park, Griffin Building, Level 12A, Unit No.12A-06, Sukhumvit Road, Bangchak, Phra Khanong, Bangkok 10260
Tel: +66 (0) 2119-3350
membership@amchamthailand.com
