JKR16

2018   INCOME TAX  ACCOUNTING & REPORTING

September 25 – 26, 2018 • Toronto

2018 Income Tax Accounting and Reporting takes an in-depth look at the most important issues on the tax agenda today with a view to providing up-to-date information for effective reporting and compliance.  From U.S. tax reform to Canada’s adoption of the BEPS multinational instrument, you will obtain the most current information available on these key issues.

 

 

 

The income tax landscape continues to evolve rapidly as governments at all levels, and across international jurisdictions,  are re-visiting existing tax laws, insisting upon tighter interpretations and collection practices, and more aggressive enforcement initiatives. Audits, tax challenges, and restatements are time consuming tasks to manage as both time, money and personnel are tied up to resolve these matters. Scrutiny of tax accounting practices and accounting assumptions by auditors and the tax authorities is now a constant concern as the use of analytics provides a powerful new tool for targeting audits.

2018 Income Tax Accounting and Reporting takes an in-depth look at the most important issues on the tax agenda today with a view to providing up-to-date information for effective reporting and compliance.  From U.S. tax reform to Canada’s adoption of the BEPS multinational instrument, you will obtain the most current information available on these key issues.  The conference will also cover ongoing developments in domestic income tax and ongoing challenges in tax accounting under IFRS.

2018 Income Tax Accounting and Reporting delivers timely industry-specific information on tax accounting and reporting issues related to domestic and international operations including:

  • Income tax accounting for IFRS – recent developments and ongoing issues
  • Tax aspects of recent IFRS standards – IFRS 9, 15, 16
  • IFRS tax provision process including a calculation example
  • Uncertain tax positions under IFRIC 23
  • Disclosures and accounting for interim reporting
  • Foreign currency tax accounting and asset retirement obligations
  • Tax issues in accounting for derivatives and hedging
  • U.S. tax reform – implications for Canadian companies with U.S. operations
  • Documents, privilege and tax transparency – tax litigation considerations
  • Current issues in tax audits and disputes
  • Using tax software, analytics and robotics
  • Transfer pricing – a tax accounting update
  • International tax planning under U.S. tax reform and BEPS

 

Registration Fees

Registration
Options
Before
August 14, 2018
Before
August 28, 2018
After
August 28, 2014
2018 Income Tax Accounting & Reporting     $2,099.00 + HST $2,199.00 + HST $2,299.00 + HST

Our GST Number: R862562543

Group Discount: Fourth Delegate FREE!

If three individuals from one organization register at the same time, a fourth person may also be registered to attend free of charge. The free registration must be of equal or lesser value than the paid registrations. Please contact us to arrange for attendance of larger groups.

Your Registration Includes

Registration fees include all conference materials, continental breakfast, lunch and refreshments. Parking and accommodation are not included.

FREE CONFERENCE WORKBOOK

As a registered delegate, you will receive a complete set of conference materials. These materials will serve as an invaluable guide, both during and after the event. The workbook will be distributed on the morning of the first day beginning at 8:00 a.m.

Cancellation Policy

Substitutions may be made at any time. If you are unable to attend, please make cancellations in writing and fax to (416) 504-6978 prior to 5:00 p.m. on September 11, 2018. A credit voucher will be issued to you for the full amount, redeemable against any other Acumen conference. If you prefer, you may request for a refund of fees paid less $250 administration fee. Registrants who cancel after above date will not be eligible to receive any credits or refunds and are liable for the entire registration fees.

Confirmed delegates who do not cancel before September 11, 2018, and fail to attend will be liable for the entire registration fees.

Acumen Information Services reserves the right to change the date, location and content for the event(s) offered herein without further notice and assumes no liability for such changes.

Early Bird Registration Discount

Register prior to to August 28, 2018,and you will obtain the following additional savings:

Second delegate: $100  Discount
Third delegate: $150 Discount
Fourth delegate: FREE

Please indicate that you are eligible for this offer on the registration page or your registration form if you are mailing in your registration.

Location – Accommodation

The venue for this event is:

Pantages Hotel
200 Victoria Street
Toronto, Ontario
M5B 1V8

Tel: 416-362-1777

Delegates can register at the Acumen service desk beginning at 8:00 a.m. on the morning of the first day of the conference. Registration fees do not include hotel accommodation.

 

Program - September 25

9:00 a.m.  – 9:05 a.m.
Opening Remarks from the Chair

Pam Zabarylo, Partner, Tax, KPMG LLP

9:05 a.m. – 10:15 a.m.
Income Tax Accounting For IFRS – Recent Developments and Ongoing Issues

Pam Zabarylo, Partner, Tax, KPMG LLP

  • Tax accounting issues of note for 2018-2019
  • IASB update
    • FRIC 23 – uncertain tax positions
    • recovery of indefinite life intangible assets
    • recognition of deferred taxes when acquiring a single asset entity
    • cash received from the government to finance R&D projects
    • IAS 12 or IAS 37 – income tax penalties and interest
    • proposed amendment to IAS 8 – accounting policies and estimates
  • Tax issues that continue to challenge
    • booking OCI items
    • backward tracing including examples
    • intraperiod allocations
    • recognition of deferred tax assets
    • where to expect book-tax difference and potential permanent differences
  • Understanding OCI and how items flow through the account
  • Accounting for carbon taxes

10:15 a.m. – 11:15 a.m.
Tax Aspects of Recent IFRS Standards – IFRS 9, 15, 16

Spence McDonnell, Partner, PricewaterhouseCoopers LLP

  • IFRS 15 – Revenue Recognition
    • change in accounting method required?
    • creating or changing temporary differences affecting the tax provision
    • revision to transfer pricing strategies/documentation?
    • potential updates for policies, systems, processes, controls related to tax
    • accounting/reporting
    • issues arising from recharacterization of product or service revenue
    • HST issues
    • intragroup mismatches
  • IFRS 16 – Leases
    • tax accounting issues for lessees – impact of book accounting changes
    • evaluation of impact on EBITDA
    • impact of front-loaded effect
    • review of existing lease structures for continued effectiveness
    • country by country reporting - impact of differences between IFRS and tax books
    • revisiting transfer pricing and valuation models relying on EBITDA
    • do changes to asset/debt mix create GAAR concerns?
    • intragroup mismatches
  • IFRS 9 – Financial Instruments
    • classification of equity investments - tax base and book base issues
    • trade receivables – tax impact of simplified ECL calculations
    • intercompany loans
    • tax considerations for banks and other lenders

11:15 a.m. – 11:30 a.m. – Morning Networking Break

11:30 a.m. – 12:30 p.m.
The IFRS Tax Provision Process – A Calculation Example

Matt MacInnis, Partner, Tax Services, Ernst & Young LLP

  • Working through the tax provision process using a calculation example
  • Identifying the basics including calculation example
  • Understanding temporary differences and where they arise
  • Issues encountered in 2017 year-end tax provisioning
  • Assessing recoverability of deferred tax assets
  • Reconciliation of tax accounts
  • Common problems in compliance
    • temporary vs permanent differences
    • documentation of reserves
    • filed/provided adjustments
    • valuation allowances
    • provision to return adjustments
  • Preparation of schedules
  • Issues to consider for True-Up of the Provision

12:30 p.m. – 1:30 p.m.  – Luncheon

1:30 p.m. – 2:30 p.m.
Uncertain Tax Positions – IFRIC 23 Including Examples for Implementation and Application

Jeremy Shnaider, Senior Manager, Ernst & Young LLP

  • Overview of IFRIC 23 – scopes and essential aspects
    • application of IAS 12 recognition and measurement requirements to UTPs
  • IFRS meaning of “uncertain tax treatment”
  • Unit of account
    • individual or group applications
    • best prediction for resolution of the uncertainty
  • Examination by tax authorities – no consideration of detection risk
  • When and how to reflect effects of uncertainty for current and deferred tax
    • taxable profit/tax loss, tax bases, unused tax losses, unused tax credits, tax rates
  • Accounting when the assessment is “probable”
  • Accounting when the assessment is “not probable”
    • most likely amount or expected value methods
  • Changes in facts and circumstances
  • Interest and penalties in the UTP analysis
  • Differences and similarities to US UTP approach
  • Steps to take for proper implementation
  • Use of IAS 8 transitional rules and avoiding the use of hindsight
  • When is a case considered settled for purposes of adjusting a UTP?
  • UTP rollforward schedules
  • Disclosures required to reflect IFRIC 23 determinations

2:30 p.m. – 3:30 p.m.
Derivatives and Hedging Strategies – Current Issues and Challenges

Michael Sturino, Partner, Business Tax, Deloitte LLP

  • Impact of IFRS 9 on tax accounting for hedge accounting
  • Derivatives, financial products and hedging
    • tax issues under IFRS financial instrument and hedging standards
    • financial v. non-financial hedges and derivatives
    • tax timing of income recognition and hedging principles
    • dealing with off-balance sheet financial arrangements
  • Tax implications of working with the Other Comprehensive Income (OCI) account
    • how fair value through OCI impacts deferred taxes
    • practical issues in backward tracing and clearing deferred taxes from OCI
  • Understanding new rules under subsection 10.1(1) of the Income Tax Act
    • use of mark-to-market methodology
    • transitional rule
    • qualifying financial instruments
    • new rules for financial institutions

3:30 p.m. – 3:45 p.m. – Afternoon Networking Break

3:45 p.m. – 4:45 p.m.
Documents, Privilege and Tax Transparency: A Tax Litigation Perspective

Sal Mirandola, Partner, McCarthy Tétrault LLP

  • Privilege primer
    • understanding source of privilege
    • waivers
    • exceptions in tax practice
  • Transactional common interest privilege – maintaining privilege
  • CRA document demands regarding tax accrual working papers
  • Document access disputes
    • common disputes
    • common resolutions
  • Recent cases

End of Day 1

Program  -  September 26

9:00 a.m. – 9:05 a.m.
Opening Remarks from the Chair

Pam Zabarylo, Partner, Tax, KPMG LLP

9:05 a.m. – 9:50 
Foreign Currency Tax Accounting

Michael Sturino, Partner, Business Tax, Deloitte LLP

  • Tax impact of transactional exchange gains/losses
  • Understanding the IFRS foreign currency translation process
    • local currency vs functional currency
    • functional currency vs reporting currency
  • Deferred taxes for non-monetary assets
  • Tax accounting for foreign currency translation
    • adjustments on outside basis differences
    • income of branches and subsidiaries
    • currency gains/losses of branches and subsidiaries
    • hedging considerations - deferred tax balance
    • foreign deferred tax assets
  • Tax effects of functional currency changing from local currency to reporting currency
  • Changes in functional currency
  • Consideration of the IRS changes to treatment of foreign currency gains or losses

9:50 a.m. – 10:40 a.m.
U.S. Tax Reform – Implications for Canadian Companies with US Operations

Dennis Metzler, Partner, U.S. Tax Services, Deloitte LLP

  • Significant changes to US tax for multinationals
    • corporate tax rates
    • corporate alternative minimum tax
    • expensing new investment purchases
    • limitations on net operating losses
    • domestic interest expense limitations
    • treatment of gain on sale of U.S. partnerships by foreign partners
    • The Base Erosion Anti-Abuse Tax
    • Foreign-Derived Intangible Income
  • Taxation of U.S. owner multinationals
    • participation exemption
      • Subpart F
      • GILTI
  • IFRS income tax accounting considerations of US tax reform
    • remeasurement of deferred tax assets/liabilities under new tax rates
    • reassessment of deferred tax assets for AMT carry-forwards
    • assessing recoverability of deferred tax assets resulting from interest expense limitations
    • tax accounting impact of repatriation toll charge
    • incentive for US production and selling abroad – IAS 12 issues
    • tax on accumulated earnings and profits of foreign subsidiaries – transition tax
    • backward tracing of changes in deferred taxation
    • uncertain tax positions and IFRIC 23
    • disclosure under IAS 10 and additional disclosures
  • Impacts on business operations
    • financial statement impacts
    • increasing after-tax value of U.S. cash flows
    • reversing cross-border tax planning – re-evaluation of existing structures
  • Related pronouncements from tax and regulatory authorities - SEC – SAB 118

10:40 a.m. – 11:00 a.m. – Morning Networking Break

11:00 a.m. – 11:50 a.m.
Understanding the Current Tax Audits and Disputes Landscape

Paul Lynch, Partner, Tax Dispute Resolution and Controversy, KPMG LLP

  • Risk Identification and Detection Methodologies of the CRA
  • Working with the CRA risk rating system
  • Practical issues around tax risk management
  • CRA’s use of data analytics and business intelligence to identify taxpayers with the highest risk of being non-compliant
  • Top audit focus areas of the CRA
  • Current trends in CRA audit practice and procedure
    • scope of CRA audits
    • requests and requirements to comply
    • education letters and compliance letters
  • Audit approach for small and medium-sized businesses
  • Proper steps for responding and complying
  • What options are in the toolbox to mitigate CRA challenges

11:50 a.m. – 12:30 p.m.
Tax Software, Analytics and Robotics – How Tax Professionals are Leveraging Technology

John Gotts, Partner, PricewaterhouseCoopers LLP
Julio Fernandez, Senior Manager, PricewaterhouseCoopers LLP

  • How tax professionals are leveraging technology to bring value to the business
  • Discussion on data - using data models to drive value and manage risk in tax accounting
  • Tips and tricks - ideas on maximizing your tax digital ecosystem at your company
  • The next generation of tax automation - robotics, machine learning and artificial intelligence

12:30 p.m. – 1:30 p.m.  –  Luncheon

1:30 p.m. – 2:20 p.m.
Transfer Pricing – Tax Accounting Update

Ken Kyriacou, Partner, Transfer Pricing Enst & Young LLP

  • Overview of the OECD BEPS Actions related to transfer pricing
    • transfer pricing outcomes in line with value creation –
      • intangibles and hard to value intangibles
      • risks and capital
      • other high risk transactions
  • Canada’s commitment to BEPS – domestic differences from the OECD plan
    • longer reassessment periods for CRA
  • Related developments arising under US tax reform
  • Impact of recent changes on current tax charges or tax base for deferred tax calculations
  • Considering changes to tax planning strategies arising from new legislation to implement BEPS
  • Updating transfer pricing documentation for BEPS compliance and country by country reporting
  • Changing the business/financing model to align with current group operations
    • reassessment of tax basis and applicable tax rates
    • accounting issues for operational restructuring for BEPS compliance
  • BEPS transfer pricing & uncertain tax positions

2:20 p.m. – 2:40 p.m. – Afternoon Networking Break

2:40 p.m. – 3:40 p.m.
International Tax Planning and Accounting Under U.S. Tax Reforms and BEPS

Dot Whitaker, Partner, KPMG LLP

  • Overview of the OECD BEPS Actions related to international tax planning
    • hybrid mismatch arrangements – hybrid entities and hybrid instruments
    • changes to CFC rules
    • limitations on interest deductions and financial payments
    • looking at substance over form in transaction structuring
    • permanent establishment rules
  • Entities likely to be affected
  • Scope of jurisdictional implementation
  • Canada’s commitment to BEPS – domestic differences from the OECD plan
    • new tracking arrangement rules for FAPI
    • comprehensive “look-through” rules cross-border surplus stripping
  • Related developments arising under US tax reform – BEAT vs. BEPS
  • Impact of recent changes on current tax charges or tax base for deferred tax calculations
  • Considering changes to tax planning strategies arising from new legislation to implement BEPS
  • IFRS accounting issues to consider
    • what needs to be recorded/reported?
  • Uncertain tax positions, IFRIC 23 – new sources of uncertainty, new structures, new rules
  • Changing the business/financing model to align with current group operations
    • reassessment of tax basis and applicable tax rates
    • accounting issues for operational restructuring for BEPS compliance
  • New issues created related to GAAR

3:40 p.m. – 4:30 p.m.
Disclosures and Accounting for Interim Reporting

Craig Cowan, Partner, Deloitte LLP

  • Presentation of tax disclosures
    • balance sheet accounts
    • income statement accounts
  • Regulatory disclosures and MD&A requirements for tax-related disclosures
    • issues cited by the OSC and SEC as requiring disclosure/analysis
  • Understanding IAS 34 for interim reporting of tax accounting matters including
    • annual effective tax rate for each material jurisdiction
    • computation of interim period tax/benefit
    • reversal of temporary differences
    • prior period adjustments
    • re-measurement of deferred tax balances
    • changes in judgment or new interpretations of information
    • intraperiod allocations
  • Accounting for specific tax events occurring during an interim period
  • Examples of note disclosures

End of Conference

This conference has been specifically designed for, and in consultation with, experts in
accounting for income taxes and corporate income tax as well as standard setters. The event
has been developed with the professional responsibilities of our audience as our focus. As
well, auditors, financial advisors, analysts, lawyers and other advisory professionals would
benefit from staying current on the information provided at this timely event. In particular,
our experience indicates that individuals in the following positions would mostly likely be in
attendance:

Chief Financial Officers
VPs, Directors and Managers of

  • Tax
  • Finance
  • Accounting
  • Financial Reporting
  • Regulatory Compliance

Controllers
Chief Risk Officers
Internal Auditors
Audit Committee Members
Risk Managers
Audit and Assurance Professionals
Industry Regulators and Standard Setters
Financial Analysts
Tax Lawyers and Accountants

To obtain a copy of the brochure, please send a request to the email below or click on the image of the brochure on this page.

e-mail at info@acumeninformation.com

“Very good presenters – all material tied together. Well organized seminar.”

Manager Corporate Tax, Husky Energy Inc.

“…a very good, timely conference.”

Director Taxation, Canwest Global

“The contents were overall very good…”

Manager, Tax Reporting and Compliance, MDS Inc.

“Top class expertise on the issues from a good variety of backgrounds. They are excellent speakers and made a difficult subject understandable. Very well organized and the topic was well-covered.”Assistant Treasurer

SNC-Lavalin

“Met all my expectations – GREAT course.”

Manager Taxation and Special Projects
Tundra Oil & Gas

“Speakers had good knowledge of the topic, both theoretical and practical.”

Vice President and Chief Financial Officer
ABC Group

“The contents were overall very good…”

Manager, Tax Reporting and Compliance, MDS Inc.

“Good content, a lot of real life examples. Knowledgeable speakers.”

Director of Finance Ontario Energy Savings Corp.

To submit questions to be answered at the conference, please send us an email at this address at  info@acumeninformation.com

Limited sponsorship and exhibition options are available for this event, including

• Cocktail reception
• Luncheon sponsorship
• Breakfast sponsorship
• Booth/exhibit space

For more information, or to check availability,
please contact us by phone at (416) 504-6952
or by e-mail at  info@acumeninformation.com