MILAN 20-21 MAY 2021 – HOTEL PRINCIPE DI SAVOIA
MOBILITY OF BUSINESS – TRENDS ON CROSS BORDER BUSINESS REORGANIZATION
Chair: Scott Wilkie
The Break-out Session II shall provide an overview of major cross border business reorganizations which have taken place in Europe in the last 12 months using as a point of reference several actual public reorganizations of which the members of this panel are aware and with the issues raised by which they have experience. The focus of this session will be on how the ways in which multinational enterprises conduct business are “mobile” in different ways to respond to the tax landscape as it may be changing to respond to BEPS, the two Pillars and the GloBE proposals made by the OECD Secretariat, the influence of tax regulation and judicial determinations in the European Union and other circumstances that may cause businesses to relocate or recalibrate how they conduct business structurally, organize internal group transactions and have commercial exchanges with third parties within Europe, and both inbound to and outbound from Europe. These practical cases will be intended to stimulate a debate on how reorganizations have changed in response to regulatory, political and commercial forces identified with BEPS, highlighting issues concerning the taxation of cross border mergers and other ways of combining or organizing business elements, the transfer of places where business is conducted or directed, and European “inversions”, as well as the possible reactions to the anticipation or actual execution of realignment of enterprise as a result of “Brexit”. Issues relating to transfer of debt within the transfer of business shall be addressed under this Break-out Session II. This session will not be limited to typical organizational ways in which multinational enterprises organize and reorganize their component legally distinct elements; in keeping with the overall theme of the conference, this session will also consider less direct transactional and other ways in which multinational enterprises may recalibrate the deployment of their resources in ways that are responsive to changing political, fiscal and business dynamics even within a continuing familiar structural framework.