Today's business world is facing unprecedented major changes. As taxation is an inseparable part of business, taxation issues have become more severe and complex. Starting in 2012, OECD launched the Base Erosion and Profit Shifting Projects (BEPS). G20 nations became parts of the initiative since 2013. The projects were aimed to prevent tax avoidance by ways of changing the general viewpoints of international taxation. Since then, there have been many changes of tax regulations across the globe.
Transfer pricing principles have been overhauled. Currently, multilateral instruments are underway to revamp tax treaties between nations. The prevailing withholding tax rules may change in the near future. All these changes bring significant impact to international businesses. Failure to keep up with these changes could bring serious impact to the bottom line of business.
At Prominence Consulting, we make every effort to prevent and resolve tax risks. Our exposures in multinational companies and private practice over the past 20 years have provided us with a very detailed and accurate understanding of your concerns to adhere to prudent operation and strengthen risk management. We do not just provide advice, we strive to provide workable solutions.