TGS Global held the 7th Annual Conference, November 14-16, 2018, in Dubai, UAE. TGS 7th annual conference is another new start for TGS, as the network has gone through some restructuring which shaped TGS to become a solid network for the future. Dubai becomes a choice of annual conference venue because it is an important business center with a dynamic and diversified economy that has a competitive combination of costs, market and environmental advantages that create an ideal and attractive investment climate for local and foreign companies.
During the conference, TGS members discuss with the experts for the implementation of newly hype technologies such as Artificial Intelligence, Big Data, Blockchain, and how it will affect accountancy, audit and commercial legal services. The agenda of conference includes workshops that will allow to open business practices to new technologies and to imagine a futuristic environment for our companies. This conference aim to synergized all TGS firm and create a new things from TGS to add value to TGS clients.
New service that TGS now offer to the clients is the compliance to GDPR for those businesses who involve with personal data of EU residents, creating business process automation, client business to sell listing on our platform and virtual CFO.
As a member of Strategic Council, TGS AU Partners has participated in strategy discussion to continue reshaping the key value of TGS for clients: focus on quality and distinct expertise with values of entrepreneurial, agile and think global to support sustainability of clients business.
TGS Tax Committee Annual Meeting 2018 key takeaways:
1. UAE in 2018 introduce VAT, there are places of free zone where VAT and customs are exempted under several condition (similar like Indonesia bounded zone).
2. Tax dispute in Gulf Countries are using Arabic for its formal language, TGS has member of tax consultants/agents who are able to represent in case of tax payers has a tax dispute in UAE and another Gulf Arab Countries.
3. USA just issue a new changes of income tax regulation including some changes of deductible expenses items, based erosion and anti abuse tax regulation (BEAT), US will push its tax payers to place its intangible assets in US, new minimum tax on global intangible low tax income (GILTI).
4. The upcoming result of MLI and optional arbitration will bring the world of tax to a new era of international tax system where tax planning and dispute resolution will come in a different form than our practice before.
5. Inheritance tax rate in some countries are high thus a careful tax planning is required to optimize tax burden for heirs. TGS Global tax committee led by Jeroen van der Linden, partner of TGS Limetree Netherlands, an international tax experts who focus on clients who are looking for optimal tax structure.