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Brazil Commercial BEPS
Copyright Notice: ©2015 Amicorp Group. All rights reserved. The contents of this presentation have been prepared by the Amicorp Group A.G. for informational purposes only. The information contained in this
presentation does not constitute or contain any type of advice, and neither our presentation of such information nor your receipt of it will create a commercial or legal relationship. Consequently, you should not
act or rely upon the information contained in this presentation without seeking professional counsel. The information presented in this presentation, the access to the information contained herein or your receipt
of it will not create any service provider-client relationship. Amicorp Group A.G. is the owner of all copyright and other rights in and to all copyrightable text and graphics on this presentation. Your company or its
representatives may lawfully use this presentation for its own, non-commercial purposes, by displaying this copyright notice. Any other reproduction, copying, distribution, retransmission or modification of all or
any parts of this presentation is strictly prohibited without the express prior written permission of the Amicorp Group.
Trademark Notice: The Amicorp word and device are trademarks of Amicorp Holding Limited. All rights reserved.
www.amicorp.com
Amicorp do BrasilRua Helena 260 -14º andarVila Olimpia – São Paulo - SP
Introduction to Amicorp Group www.amicorp.com
Amicorp Group• Who are we
2
An independent growing global provider of company secretarial and
fiduciary services
Serving corporate but also high-net-worth-clients
Hong Kong based group - established in 1992
Emerging markets: Latin America, Eastern Europe & Asia
Global networked team
ISO 9001, ISO 27001, SAS 70 type II & ISAE 3402 type II, Six Sigma
Licensed & regulated corporate, trust and fund provider
Strict compliance policies, compliant solutions
Secure systems with backups in Geneva
Introduction to Amicorp Group www.amicorp.com3
Amicorp Worldwide Offices
The Americas
• The Bahamas
• Barbados
• Bogotá
• British Virgin Islands
• Buenos Aires
• Cayman Islands
• Curaçao
• Lima
• Mexico City
• Miami
• Montevideo
• New York
• San Diego
• Santiago
• São Paulo
Europe & Africa
• Amsterdam
• Barcelona
• Cyprus
• Johannesburg
• London
• Luxembourg
• Malta
• Mauritius
• Monaco
• The Seychelles
• Vilnius
• Zug and Zurich
Asia & Pacific
• Auckland
• Bangalore
• Davao
• Dubai
• Hong Kong
• Mumbai
• New Delhi
• Shanghai
• Shenzhen
• Singapore
• Taipei
Introduction to Amicorp Group www.amicorp.com
Amicorp Group• OUR business – OUR specialization
4
Entity Administration Services
Establishment and administration of companies, trusts,
foundations
Company formation and management services
Private clients services
Corporate client services
Outsourcing Services
Accounting, Legal and IT outsourcing
Financial support services
Fund administration
Introduction to Amicorp Group www.amicorp.com
Our Client Focus• Delivering high quality through our client partnership model
5
01We evaluate our clients specific
needs and create customized and
compliant solutions to fulfil them
02With around 16.000 clients, we
represent some of the most prestigious
banks, law firms, multinationals
and asset managers in the world
03A high client retention rate,
greater than 93%, testifies to these
long-standing relationships
04Building relationships built on
mutual respect and trust that last
for generations
Personalized service, local experience and networks
Specialized professionals with local tax legislation knowledge
Experience in major top global markets
Hands-on offering practical solutions
Transparent fee schedules
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Our Services
6
01Corporate
Client Services
04Director and
Shareholder Services
02Institutional
Sales Unit
05Compliance and
Regulatory Services
03 Company Formation
and Management
06FATCA
Services
Deliver the broadest range of
structuring alternatives involving
corporate vehicles such as
companies, partnerships and
foundations. We assist with risk
management and the simplification of
global operations.
Lead the engagement with private
banks, family offices, accounting and
legal firms and independent financial
advisers. We deliver trust and fiduciary
solutions including asset protection, tax
planning, business and family
succession planning.
Establish and administer all types of
corporate entities. Provide all
supporting services related to company
management and administration
services.
Provide corporate directors or other
relationship services relating to the
holding of clients’ entities in a range of
jurisdictions. We supply a variety of
services that ensure strict compliance
with tax laws.
Assist our clients in managing the ever
increasing complexity they are faced
with:
· Compliance policy procedures – AML
framework
· Regulatory inspection readiness
· Regulatory remediation.
Comply with US FATCA and the
announced global FATCA regulations.
To ensure clients are FATCA compliant
we provide the following services:
classification, registration, sponsorship,
identification of US persons, reviewing
existing structures for compliance, etc.
Introduction to Amicorp Group www.amicorp.com
Our Services
7
07Financial
Services
10Fund Structuring and
Administration
08Trust and Private
Foundation Structures
11Outsourcing
Services
09Estate Planning
Amicorp Bank and Trust (ABT),
provides tailor-made financial
products and business solutions.
AmiLife: Single Premium Life
Insurance
Amicorp Insurance Company (AIC)
offers a captive insurance program.
Used as the top entity in private or
corporate investment holding
structures, we provide establishment,
management and administration
services as well as trustees and
directors.
We establish and administer estate
planning structures. We provide private
office services that are independent
from any asset management relations
the client has.
We set up the right structure in the right
jurisdiction. We obtain regulatory
approval, draft prospectuses,
resolutions and all related agreements.
ISAE 3402- certified fund administrator.
Our multiple services include:
Scanning and document handling
Finance and accounting (including
internal and client administration),
investment portfolio administration,
payroll administration, compliance and
IT hosting.
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Corporates: Global Business Trends in 2017
Emerging Markets for Global Business
Industries of focus for Global Business
Demographic Shifts, Reverse innovation and Mass customisation
Innovation & Communication
Increased Competition & Slower Growth
Trade reclassified: The falling cost and rising speed of trade
DRAFT - 30 Jan 2017
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Corporates: Top global business risks for 2017
SOURCE: The Allianz Risk Barometer
Changes in legislation
and regulation(government change, economic
sanctions, protectionism, etc.)
Macroeconomic developments(austerity programs, commodity
price increase, deflation, inflation)
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Tax Compliance & Assurance
SOURCE: The Allianz Risk Barometer
GLOBAL TRENDS
1. AEOI : FATCA and CRS
2. Tax as Criminal Offence – next also banks and providers
3. VDP – Tax Amnesties as last resort
4. More focus on POEM and Substance
5. BEPS – Base Erosion Profit Shifting and other anti abuse
Abuse of Tax Treaties – LOB and PPT Transfer Pricing and Documentation Transparency and self disclosure
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Why do Corporates Do International Structuring
For Any business enterprise a tax burden (necessary or
unnecessary) represents a business wastage which creates
impact on distributable profits and reduces competitive
effectiveness
Globally Local Tax laws hence compete with each other to be
preferred jurisdiction of choice on following major counts
Which Business Activities are subject to local taxations
At what rate is the Business Activity taxed ?
At which point of time / instance is the Business activity
taxable ?
PROFITS
LOSSES/
EXPENS
ES
No Tax Event
Lowest Tax Rates
Deferred Taxation
Private Event
(NO)
Highest Tax Rate
Immediate
Deduction
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BEPS: Base Erosion – Profit Shifting
UK and EU started, OECD and G20 took it global
Combat tax avoidance structures of Starbucks, Amazon,
Apple, etc
Base Erosion by exploiting gaps / loopholes
Profit Shifting to low tax counties
Most schemes are legal. Most artificial, but abusive with low
ETR.
OECD says it distorts competition, and shifts activities.
Citizens more sensitive to “tax fairness”.
BEPS Action Plan, developed by OECD early 2013
BEPS
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BEPS Readiness (Around the World)
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13SOURCE: Thomson Reuters
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Why Should Global Corporates Review Immediately ?
SOURCE: Slideshare
Withholding tax leakages Hybrid financing structures
Funding arrangements Transfer pricing structures
Commissionaire structuresTransfer pricing documentation
Introduction to Amicorp Group www.amicorp.com
Why Should Global Corporates Review?
SOURCE: Slideshare
Map Legal Entities and Their Tax Residencies
Map Employees and Their Roles
Obtain Entity Level Financial Data
Business Operations and Transfer Pricing Policies
Local File Access Resources and Data
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Starbucks, Microsoft, Apple using loopholes
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Tax strategies: Base Erosion & Profit Shifting
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Common planning strategy of MNC re BE & PS:
Erode taxable basis and shift profits from high tax to low tax environment
Complex and not transparent
Main Holding Co/Operating Co
Regulated Fund (Whitelisted)
Operating Co in A & BSourcing & Sales centers in D & E
Joint Venture Entities Treasury Centers Savings on Local WHT for “Dividends and Interest”
Investments via Tax Treaty Based Structures
No Tax Treaty Based
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Case Studies: Developed Market Company (Financing Structures)
Holding Co (UK)
Holding Co (UK) Holding Co (Swiss)
Op Co (Swiss) Fin Co (Dubai) Fin Co (BVI)
Fin Co
(Mauritius)
Op Co (Nigeria)
Op Co
(Canada)
?
?
?
?
Introduction to Amicorp Group www.amicorp.com
Case Studies: Developed Market Company (Restructured by Combining Operational and Legal Structures)
Holding Co (UK)
Licenced Fin Co (UK) Holding Co (Swiss)
Op Co (Swiss)
Op Co (Nigeria)
Op Co
(Canada)
Board of Directors and Group CEO
Management Committee
(Accounting and Risk)
Group CFO &
Corporate
Treasury
Chief Risk
Management and
Quality Control
Local Office of
CEO &
Operations
Local Office of
CEO &
Operations
Local Office of CEO
& Operations
Book Keeping
and Audit
Book Keeping
and Audit
Book Keeping and Audit
Introduction to Amicorp Group www.amicorp.com
Case Studies: Emerging Market Company (Tax Treaty Driven)
Holding Co (India)
Holding Co (Singapore)
Op Co
(Singapore)
Fin Co
(Singapore)
Fin Co
(Singapore)
Op Co
(Indonesia)
Hold Co
(Philippines)
JV Op Co
(Philippines)
JV Op Co
(Maldives)
?
?
?
Introduction to Amicorp Group www.amicorp.com
Case Studies: Emerging Market Company (Restructured on Principal Purpose)
Listed Holding Co (India)
Holding Co (Mauritius)
Multi Class Fund (Singapore)
Op Co
(Indonesia)
Hold Co
(Philippines)
JV Op Co
(Philippines)
JV Op Co
(Maldives)
Licenced Corporate
Treasury Co (Singapore)
Asia CFO &
Corporate Treasury
Investment Manager
to the Fund
Asia CEO & Business Development Team
Local JV
Representative Local CEO / CFO /
Operations Team
Local JV
Representative
(Finance)
Local JV
Representative
(Operations)
Management (Operations)
Independent Fund Administrator
Introduction to Amicorp Group www.amicorp.com
Corporate Client Services
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Amicorp’s corporate clients unit leads our engagement with professional intermediaries (legal, tax and
financial advisors), publicly and privately held multinational corporations, small and medium enterprises,
startups, and pension plans in multiple jurisdictions.
Our in-depth knowledge of local and international accounting standards and local compliance processes
(legal, accounting, payroll and tax), provides significant time zone, cultural and language advantages. In
addition, our experts are experienced in international matters related to double taxation, investment
protection, transfer pricing, trade economic zones, intellectual property registration, and international
institutions and groups (such as the OECD, G-20, EU, and NAFTA).
Introduction to Amicorp Group www.amicorp.com
Amicorp Team
Fabio Rabelo - Manging Director at Amicorp do Brasil
Tel. +55 11 9.918-3572
Ricardo Sitzer - Senior Manager Sales at Amicorp do Brasil
[email protected]. +55 11 9.9169-3948
Deabashish DasGupta – Head of Corporate Clients at Amicorp Group
[email protected]. +971.4.304.2900
Thiago Lour – Senior Manager Sales at Amicorp do Brasil
[email protected]. +55 11 9.9248-8875
Introduction to Amicorp Group www.amicorp.com
Thank You Copyright Notice: ©2015 Amicorp Group. All rights reserved. The contents of this presentation have been prepared by the Amicorp Group A.G. for informational
purposes only. The information contained in this presentation does not constitute or contain any type of advice, and neither our presentation of such information
nor your receipt of it will create a commercial or legal relationship. Consequently, you should not act or rely upon the information contained in this presentation
without seeking professional counsel. The information presented in this presentation, the access to the information contained herein or your receipt of it will not
create any service provider-client relationship. Amicorp Group A.G. is the owner of all copyright and other rights in and to all copyrightable text and graphics on
this presentation. Your company or its representatives may lawfully use this presentation for its own, non-commercial purposes, by displaying this copyright
notice. Any other reproduction, copying, distribution, retransmission or modification of all or any parts of this presentation is strictly prohibited without the
express prior written permission of the Amicorp Group.
Trademark Notice: The Amicorp word and device are trademarks of Amicorp Holding Limited. All rights reserved.
www.amicorp.com
Amicorp Group
Rm. 2103-4, 21/F, Wing On Centre,111 Connaught Road Central, Hong Kong
Fax: +852 3105 9883 Tel.: +852 3105 9882
email: [email protected]
Amicorp Limited