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8 T H A N N U A L A F R I C A

D ay o n eW E D N E S D AY, 2 O c t o b e r 2 0 1 9

TIME TOPIC SPEAKERS

08:30 - 09:15

OECD Proposals on Digitalisation: An Overview of the Potential Future of International Taxation (Pillar I)As the introduction of digital sales taxes threatens to trigger further trade wars, the OECD Inclusive Framework is seeking to find a global consensus-based solution that may result in potentially radical changes to the concept of nexus and the rules on profit allocation. The Summit will begin with an overview of the nexus and profit allocation proposals (known as Pillar I).

Lee Corrick, ATAF

09:15 - 10:00

Diverse Reflections on the OECD Proposals to Alter the Concept of International Nexus and Profit Allocation (Pillar I)Our panel of experts will examine the benefits and burdens of each of the OECD proposals as well as potential country winners and losers.

Moderator:Johann Hattingh, UCT Panel:Craig West, UCTMichael Hewson, Graphene Economics

10:00 - 10:30 Tea Break

10:30 - 12:00

Case Study 1: Telecommunications Sector (Current Paradigm)Our panel of experts will review the transfer pricing aspects of a hypothetical multinational group of companies within the telecommunications sector. These experts will focus on transfer pricing as the concept is currently applied under the arm’s length principle with special emphasis on the comparability analysis.

Moderator: Nishana Gosai, Adcorp

Panel:Valdis Leikus, Graphene Economic

12:00 - 13:00 Lunch

13:00 - 14:00

Case Study 1 Continued: Telecommunications Sector (OECD Pillar I Alternatives)Our panel of experts will reconvene to analyse the same telecommunications group from a futuristic perspective. More specifically, the panel will reconsider the case study based on the new OECD Pillar I proposals.

Moderator: Nishana Gosai , Adcorp

Panel:Valdis Leikus, Graphene Economic

14:00 - 15:30

Case study 2: Nestlé Zambia Trading Limited vs Zambia Revenue AuthorityOur panel of experts will review the recent transfer pricing Tax Appeal Tribunal decision involving Nestlé and the ZRA. The discussion will cover the impact of the decision as well as how the new OECD Pillar I proposals would potentially change the analysis.

Moderator: Marcus Stelloh, BDO

Panel:TBC

15:30 - 16:00 Tea Break

16:00 - 17:00

Marketing intangibles versus trade intangiblesTransfer pricing often requires the valuation of different types of intangibles. With few, if any, comparable for the controlled transactions this can be extremely difficult particularly in the valuing of trade vs marketing intangibles. Africa (largely a net importer of manufactured goods) often gives rise to these questions and uncertainties.

Panel: Billy Joubert, DeloitteChristian Wiesener, KPMG

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D ay t w oT h u r s d ay, 3 O c t o b e r 2 0 1 9

TIME TOPIC SPEAKERS

08:30 - 09:15

Case Study 3: Financial SectorOur panel of experts will review the transfer pricing aspects of a hypothetical multinational group of companies within the financial sector. These experts will focus on transfer pricing as the concept is applied, taking into account the latest developments as well as the Pillar I alternatives.

Moderator: TBC

Panel:Steven Breslin, DeloitteChristian Wiesener, KPMGJeanne` Havinga, Standard Bank

09:15 - 10:00The AU Initiative on Intra-African Trade: New Source of Hope or More of the Same?The African Union has received regional political support for regional free trade. Potential actions, timing, and current progress will be explored.

TBC

10:00 - 10:30 Tea Break

10:30 - 12:00

What is the future of CFC mix with other minimum tax rules?The CFC regime effectively contains minimum extra-territorial tax rules, acting as a precursor to the newly proposed OECD minimum tax rules. The question is how both the old and the new sets of minimum standards compare and interact with one another.

Moderator:TBC

Panel:Lutando Mvovo, VodacomTracy Johnson, UCT

12:00 - 13:00 Lunch

13:00 - 14:30

Case Study 4: Consumer Goods SectorOur panel of experts will review the transfer pricing aspects of a hypothetical multinational group of companies within the fast-moving consumer goods sector. These experts will focus on transfer pricing as the concept is applied, taking into account differences between marketing versus product intangibles as well as the impact of the Pillar I alternatives.

Moderator: Michael Hewson, Graphene Economics

Panel:Billy Joubert, DeloitteAndreas Muntingh, ShopriteFrancis Ofori-Danso, SC JohnsonVicki Bales, DLA Piper UK LLP

14:30 - 15:00

Pillar II – Minimum Tax Rules (OECD): Overview presentationThe OECD Inclusive Framework is also proposing changes to the global tax rules beyond the allocation of taxing rights. These changes under Pillar II of the OECD work would introduce rules to ensure that all global businesses pay a minimum level of tax on all of their income. This overview of Pillar II will cover the range of options proposed in this regard.

Panel: Lee Corrick, ATAFCraig West, UCT (GLOBE)

15:00 - 15:30 Tea Break

15:30 - 16:15

Future of Low Tax JurisdictionsThe OECD has been waging a successful campaign against double taxation that is seemingly having a political impact with many low tax jurisdictions even changing their tax policies. At issue is the current state of play on how the OECD is focusing on these jurisdictions, how these jurisdictions are responding and whether these jurisdictions can continue to attract capital via harmful tax practices, low-tax rates for certain industries and overall minimal income tax rates.

Moderator: TBC

Panel:Michiel Els, EY

16:15 - 17:00

Is it a Pricing Problem or a Substance Problem?The functional analysis associated with cross-border pricing often reveals more fundamental issues of substance. These issues can relate to residence, various forms of substance-over-form and may even uncover a sham-in-fact. How do all these doctrines relate on a practical basis?

Moderator: Roxanna Nyiri, Transfer Pricing Solutions

Panel:Afton Titus, UCTMarius Leivestad, EYCharl Hall, Mazars

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D ay T H R E EF r i d ay, 4 O c t o b e r 2 0 1 9

TIME TOPIC SPEAKERS

08:30 - 09:00

Disputes: State of PlayThe transfer pricing landscape is changing both in terms of law and practice. This session will provide a practical summary of the recurring issues raised and the practical phases of a transfer pricing controversy.

Cabrini McCarrick, Deloitte

09:00 - 10:30

Case Study 5: ServicesOur panel of experts will review the transfer pricing aspects of a hypothetical multinational group of companies utilising cross-border services. These experts will focus on transfer pricing issues relating to service fees, taking into account recent developments, especially the Pillar I proposals and the possible impact of the Pillar II proposals.

Moderator:TBC

Panel:Eric Ketchemin, Puma EnergyMarike Rabie, SteinhoffFrancis Ofori-Danso, SC Johnson

10:30 - 11:00 Tea Break

11:00 - 11:30

African Double Taxation Risk in an Age of Growing UncertaintyCross-border investment in Africa has become a risky affair, especially given the current changing landscape. While governments have focused heavily on preventing double non-taxation, a growing chorus of companies are claiming the existence of a rising set of circumstances leading to ever-expanding double taxation. In Africa, these circumstances are becoming a recurring theme, especially in light of how the region faces a clash of UN and OECD paradigms.

Moderator:TBC

Panel:Lutando Mvovo, VodacomJeanne` Havinga, Standard Bank

11:30 - 12:00

African MAPS: Current Usage and the Role of the Peer Review MechanismWhile advanced pricing agreements in Africa have a long way to go, mutual agreement procedures to address double taxation are available. SARS has seen a number of these cases. Access to this remedy and its process will be explored.

Moderator: TBC

Panel:Cabrini McCarrick, DeloitteVicki Bales, DLA Piper UK LLP

12:00 - 13:00 Lunch

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Drawn by: Bruce Harbottle

GrapheneTransfer Pricing AdvisoryEconomics

GrapheneTransfer Pricing AdvisoryEconomics