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Cross-border Tax Talks

January 05, 2022

Below the line: Getting tax a seat at the business table

Doug McHoney (PwC's US International Tax Services Co-Leader) is joined in PwC’s DC studio by Mohamed Kande, Vice Chair PwC US - US Consulting Solutions Co-Leader and Global Advisory Leader. They discuss the need for proactive and intentional mentorship; relationship building in the virtual environment; the three different types of transformation trending in the market; and how (and why) tax should get a seat at the business table.

Timestamps:

  • 1:16 - Mohamed’s personal journey starting on the Ivory Coast and leading to the US
  • 4:15 - How have mentorship and connections changed in a work-from-home environment?
  • 6:05 - The trends in multinational business, starting with the platform business model. What is a platform,and what are we seeing cross-sector and cross-industry? How does it differ from a linear business model?
  • 8:25 - It seems that there is a trend to focus on the demand side, even for traditionally brick and mortar companies. What is driving that transition?
  • 11:30 - As companies are thinking about major investments, the first thing to think about is the incentives available, the opportunities to reduce the after tax cost of those investments.
  • 13:30 - Before US tax law changes, companies could invest and generate profits in a low-tax jurisdiction, but given the changes in GILTI, anti-hybrid laws, BEPS 2.0, Pillar Two, etc., the conversation from a tax perspective has changed. Where is the IP going to be used, how do you fund it, where are the people? Where is the substance?
  • 19:52 - There’s a lot going on in the market regarding transformation, which can be broadly defined in three categories: portfolio, workforce, and digital. What are you seeing in the market today in regard to company portfolios?
  • 23:45 - What does workforce transformation mean for tax?
  • 28:45 - What is digital transformation, and what does it mean for companies and for tax?
  • 32:40 - One of the challenges as tax professionals is getting the best data needed to get the tax mapping right. How do we get tax more engaged in digital transformation conversations?
  • 41:40 - How do we create a focus on EPS, and ensure that tax gets a seat at the table?

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Doug McHoney

International Tax Services Global Leader, PwC US

Geoff Jacobi

ITS, Knowledge Management Managing Director, PwC US

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