Trade Compliance Considerations. April 13, 2016

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Trade Compliance Considerations. April 13, 2016"

Transcription

1 Trade Compliance Considerations April 13, 2016

2 Notice The following information is not intended to be written advice concerning one or more Federal tax matters subject to the requirements of section 10.37(a)(2) of Treasury Department Circular 230. You (and your employees, representatives, or agents) may disclose to any and all persons, without limitation, the tax treatment or tax structure, or both, of any transaction described in the associated materials we provide to you, including, but not limited to, any tax opinions, memoranda, or other tax analyses contained in those materials. The information contained herein is of a general nature and based on authorities that are subject to change. Applicability of the information to specific situations should be determined through consultation with your tax adviser KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ( KPMG International ), a Swiss entity. All rights reserved. 2

3 Why are we talking to you today? Cost Compliance Competitors

4 Cost Considerations Trade & Customs considerations can result in significant savings, promoting cash flow benefits and a competitive advantage through: Trade Agreement Usage Duty Deferral/Suspension Regimes Export Control & Sanction Reform Ask yourself: Where am I importing from? What is my duty exposure? Will I be selling domestically or exporting my products? Is my product controlled for export purposes? 2016 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ( KPMG International ), a Swiss entity. All rights reserved. NDPPS

5 Compliance Considerations Trade & Customs processes help to mitigate risk of supply chain disruption and create a competitive advantage, because: Trade violations can be expensive and prohibit trade activities The Aerospace Industry Association (AIA) is progressively releasing trade compliance standard for suppliers - These standards are intended to become requirements during bid processes Undertaking certain trade activities (related party importations, trade agreements, regimes) can require compliant processes to be demonstrated Ask yourself: Am I working with export controlled products? Will I be seeking business through competitive bids? Will I be working with military technology? Am I importing from related parties? 2016 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ( KPMG International ), a Swiss entity. All rights reserved. 5

6 Competitive Considerations Competitors are seeking cost effective measures to reduce overhead and establish efficient and compliant processes to increase competitiveness. This is accomplished through: Understanding the industry resources available to support you in your journey - American Association of Importers and Exports - Aerospace Industries Association - US Customs Centers of Excellence (CEEs) Ongoing evaluating of your in/outbound supply chains, contracts and agreements Maintaining current with trade related developments and evaluating how to maximize such opportunities - New Trade Agreements - Sanctions developments 2016 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ( KPMG International ), a Swiss entity. All rights reserved. 6

7 We Can Help Below are some of our key service offerings which may help enable companies to drive a best in class global trade and customs function and enhance savings, compliance and competitiveness: Duty planning and cost saving Bonded Warehouses Zones Customs compliance Export Compliance Audit Defense Transfer Pricing for customs valuation Assistance with valuation planning Detailed analyses of global trade operations to identify opportunities for savings related to duty planning and supply chain efficiency Implementation of duty drawback and tariff reengineering programs Supply chain cost efficiency program Assessing financial and operational feasibility Coordinating the application process Developing operational process and procedures manuals Assisting with training and compliance reviews Company-wide, multi-country customs compliance reviews Establishing global trade compliance policies and procedures Security program enrollment assistance Assistance with meeting the requirements of a wide range of government agencies Conducting Export Assessment Reviews Performing export control classifications Assisting with Military and Dual Use export compliance Performing transaction screening for restricted parties Developing export management systems, technology control plans Negotiations with Customs Authorities Planning for prior disclosure and penalty mitigation Assisting with Customs Audits preparation Assisting with Customs inquiries and responses Drafting policies, procedures and internal reviews Conducting customs-transfer pricing studies Obtaining customs and tax authority approval Assisting in declaration of postimportation price adjustments 2016 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ( KPMG International ), a Swiss entity. All rights reserved. 7

8 Thank you Heidi Mustonen Managing Director, Trade & Customs E: O: C:

9 kpmg.com/socialmedia The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ( KPMG International ), a Swiss entity. All rights reserved. NDPPS The KPMG name and logo are registered trademarks or trademarks of KPMG International.

Learn. Share. Achieve.

Learn. Share. Achieve. Learn. Share. Achieve. More Effective Data Analytics for Trade Miami Beach, Florida May 6, 2014 2014 U.S. Cross-Border Tax Conference Notices ANY TAX ADVICE IN THIS COMMUNICATION IS NOT INTENDED OR WRITTEN

More information

U.S. Inbound Tax Services

U.S. Inbound Tax Services TAX U.S. Inbound Tax Helping foreign companies achieve tax-efficiency in their U.S. operations kpmg.com 2011 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network

More information

Tax Dispute Resolution Services kpmg.com

Tax Dispute Resolution Services kpmg.com TAX Tax Dispute Resolution Services kpmg.com 1 Tax Dispute Resolution Services Are you prepared for a federal, state, or local income tax examination? Facing potential double taxation from an adjustment

More information

Sustainability reporting What you should know kpmg.com

Sustainability reporting What you should know kpmg.com SUSTAINABILITY Sustainability reporting What you should know kpmg.com b Sustainability reporting What you should know KPMG LLP (KPMG) defines corporate sustainability as adopting business strategies that

More information

KPMG UK LLP Our Living Wage experience: Inception, Implementation, Impact

KPMG UK LLP Our Living Wage experience: Inception, Implementation, Impact KPMG UK LLP Our Living Wage experience: Inception, Implementation, Impact M J Kelly Head of Living Wage Director Corporate Affairs 30 September 2015 Background - Inception First approached by Citizens

More information

Driving business performance Using data analytics

Driving business performance Using data analytics Driving business performance Using data analytics January 2016 kpmg.com About data analytics Many companies are overlooking a significant opportunity to enhance decision making and improve performance

More information

Campus Recruiting. Tax. kpmgcampus.com

Campus Recruiting. Tax. kpmgcampus.com Campus Recruiting Tax kpmgcampus.com EVS KPMG s Economic and Valuation Services (EVS) professionals offer a wide range of advanced analytical services that help clients make forward-thinking decisions

More information

Massachusetts Bay Transportation Authority

Massachusetts Bay Transportation Authority Status Report to the Fiscal Management and Control Board Massachusetts Bay Transportation Authority Year ended June 30, 2015 January 2016 kpmg.com KPMG Audit Objectives Audit Objectives Conduct an independent

More information

GLOBAL INDIRECT TAX. Thailand. Country VAT/GST Essentials. kpmg.com TAX

GLOBAL INDIRECT TAX. Thailand. Country VAT/GST Essentials. kpmg.com TAX GLOBAL INDIRECT TAX Thailand Country VAT/GST Essentials kpmg.com TAX b Thailand: Country VAT/GST Essentials Thailand: Country VAT/GST Essentials Contents Scope and Rates 2 What supplies are liable to VAT?

More information

IIA South West Event. A look at key supply chain risks and why contracting is a key step 14 January 2015

IIA South West Event. A look at key supply chain risks and why contracting is a key step 14 January 2015 IIA South West Event A look at key supply chain risks and why contracting is a key step 14 January 2015 Objectives and agenda Page The contact at KPMG with respect to this presentation is: Iain Prince

More information

Department of Labor fiduciary rule

Department of Labor fiduciary rule Department of Labor fiduciary rule Key considerations for broker-dealers and wealth management companies Volume 1 June 2016 kpmg.com About the authors Howard Margolin Howard is a partner in the Financial

More information

Regulatory Practice Letter December 2012 RPL 12-24

Regulatory Practice Letter December 2012 RPL 12-24 Regulatory Practice Letter December 2012 RPL 12-24 CFPB Nonbank Supervision - Larger Participants for Debt Collection and Credit Reporting Final Rules Executive Summary In February 2012, the Bureau of

More information

SEC s Money Market Reform will have big impact on money funds. kpmg.com

SEC s Money Market Reform will have big impact on money funds. kpmg.com SEC s Money Market Reform will have big impact on money funds kpmg.com Rules designed to prevent run risk may require significant operational changes The U.S. Securities and Exchange Commission (SEC) recently

More information

VAT and Professional Services March 11, 2014

VAT and Professional Services March 11, 2014 VAT and Professional Services March 11, 2014 Sandra Skuszka Head of VAT services KPMG LLC Isle of Man Agenda Brief overview of how VAT works. What is the difference between zero rated and exempt supplies?

More information

How To Choose The Right Form Of Joint Venture

How To Choose The Right Form Of Joint Venture Portfolio Media. Inc. 860 Broadway, 6th Floor New York, NY 10003 www.law360.com Phone: +1 646 783 7100 Fax: +1 646 783 7161 customerservice@law360.com How To Choose The Right Form Of Joint Venture Law360,

More information

Moving toward AEC: Impact to Internal Audit

Moving toward AEC: Impact to Internal Audit RISK CONSULTING Moving toward AEC: Impact to Internal Audit By: Prawin Kurowat and Term Techasarin The Institute of Internal Auditors of Thailand Annual Seminar 2012 9 August 2012 ADVISORY Panel Mr. Prawin

More information

How concerned should Directors be about going concern? Executive Summary

How concerned should Directors be about going concern? Executive Summary 09FR-007 How concerned should Directors be about going concern? 30 January 2009 Contents Executive Summary Executive summary Insolvency issues Insolvency and going concern assessments Impact on financial

More information

ADVISORY SERVICES. Risk management in an evolving world. Making the case for social media governance. kpmg.com

ADVISORY SERVICES. Risk management in an evolving world. Making the case for social media governance. kpmg.com ADVISORY SERVICES Risk management in an evolving world Making the case for social media governance kpmg.com Risk management in an evolving world 3 Why good governance should be the foundation of your social

More information

Developing a Free Credit Score Program. kpmg.com

Developing a Free Credit Score Program. kpmg.com Developing a Free Credit Score Program kpmg.com Developing a Free Credit Score Program 1 Introduction U.S. regulators, including the Consumer Financial Protection Bureau (CFPB), have begun urging lenders

More information

KPMG LLP Suite 12000 1801 K Street, NW Washington, DC 20006 Independent Auditors Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements

More information

Accounting Issues with Investments in Foreign Subsidiaries

Accounting Issues with Investments in Foreign Subsidiaries Accounting Issues with Investments in Foreign Subsidiaries Tax Executives Institute May 7, 2012 Notice ANY TAX ADVICE IN THIS COMMUNICATION IS NOT INTENDED OR WRITTEN BY KPMG TO BE USED, AND CANNOT BE

More information

FACT SHEET: AUDITOR REPORTING REQUIREMENTS

FACT SHEET: AUDITOR REPORTING REQUIREMENTS March 2015 EU AUDIT REFORM WHAT YOU NEED TO KNOW FACT SHEET: AUDITOR REPORTING REQUIREMENTS The new EU legislation introduces additional reporting requirements for the statutory auditor of EU public interest

More information

Regulatory Practice Letter June 2012 RPL 12-11

Regulatory Practice Letter June 2012 RPL 12-11 Regulatory Practice Letter June 2012 RPL 12-11 Mortgage Rule Modifications under CFPB Consideration Executive Summary The Bureau of Consumer Financial Protection ( CFPB ) has announced that it intends

More information

Regulatory Practice Letter February 2014 RPL 14-05

Regulatory Practice Letter February 2014 RPL 14-05 Regulatory Practice Letter February 2014 RPL 14-05 CFPB Nonbank Supervision of International Money Transfer Providers Proposed Rule Executive Summary The Consumer Financial Protection Bureau (CFPB or Bureau)

More information

Sales and Use Tax Compliance Services

Sales and Use Tax Compliance Services Sales and Use Tax Compliance Services U.S. Indirect Tax Practice kpmg.com 2 Sales and Use Tax Compliance Services Enhance the management of your indirect tax compliance obligations In today s challenging

More information

Grooming Your Business for Sale

Grooming Your Business for Sale PRIVATE COMPANIES Grooming Your Business for Sale Plan for the Future but Be Prepared for the Unexpected KPMG ENTERPRISE 2 Grooming Your Business for Sale Grooming Your Business for Sale Plan for the Future

More information

Effectively using SOC 1, SOC 2, and SOC 3 reports for increased assurance over outsourced operations. kpmg.com

Effectively using SOC 1, SOC 2, and SOC 3 reports for increased assurance over outsourced operations. kpmg.com Effectively using SOC 1, SOC 2, and SOC 3 reports for increased assurance over outsourced operations kpmg.com b Section or Brochure name Effectively using SOC 1, SOC 2, and SOC 3 reports for increased

More information

Financial Statements and Supplementary Information. June 30, 2012 and 2011

Financial Statements and Supplementary Information. June 30, 2012 and 2011 Financial Statements and Supplementary Information June 30, 2012 and 2011 (With Independent Auditors Report Thereon) Table of Contents Independent Auditors Report 1 Financial Statements: Statements of

More information

GLOBAL INDIRECT TAX. Chile. Country VAT/GST Essentials. kpmg.com TAX

GLOBAL INDIRECT TAX. Chile. Country VAT/GST Essentials. kpmg.com TAX GLOBAL INDIRECT TAX Chile Country VAT/GST Essentials kpmg.com TAX b Chile: Country VAT/GST Essentials Chile: Country VAT/GST Essentials Contents Scope and Rates 2 What supplies are liable to VAT? 2 What

More information

How does the new investment company accounting literature apply to real estate entities? kpmg.com

How does the new investment company accounting literature apply to real estate entities? kpmg.com How does the new investment company accounting literature apply to real estate entities? kpmg.com 1 How does the new investment company accounting literature apply to real estate entities? Introduction

More information

Your incentive compensation plans have no borders.

Your incentive compensation plans have no borders. Your incentive compensation plans have no borders. Why should your compliance processes? KPMG LINK Global Equity Tracker powered by KPMG LINK Work Force Take care of risks before take off Challenges of

More information

Meet challenges head on

Meet challenges head on Meet challenges head on Deal Advisory / Global We can help you master Financial Restructuring. Enhancing value through financial restructuring. / 1 Your vision. Our proven capabilities. Despite its challenges,

More information

Protecting the Value of Your Transaction y

Protecting the Value of Your Transaction y International Trade Due Diligence: Protecting the Value of Your Transaction y by Megan A. Gajewski, Susan M.C. Kovarovics, Michael D. Mellen and Christina A. Zanette You just closed a deal for your client,

More information

Regulatory Practice Letter September 2013 RPL 13-18

Regulatory Practice Letter September 2013 RPL 13-18 Regulatory Practice Letter September 2013 RPL 13-18 Financial Responsibility Rules for Broker-Dealers Final Revisions Executive Summary The Securities and Exchange Commission (SEC) has issued its long

More information

The Trump Administration and Tax Reform. December 2016

The Trump Administration and Tax Reform. December 2016 The Trump Administration and Tax Reform December 2016 The Trump Administration and Tax Reform Tax reform The state of play For the first time since 2006, the Republican Party (GOP) will control the House,

More information

DHL CUSTOMS SERVICES TAKING THE COMPLEXITY OUT OF CUSTOMS

DHL CUSTOMS SERVICES TAKING THE COMPLEXITY OUT OF CUSTOMS DHL CUSTOMS SERVICES TAKING THE COMPLEXITY OUT OF CUSTOMS Are you fully COMPLIANT? The international trade and compliance landscape is rapidly changing, and global supply chains are facing major challenges.

More information

Global Transfer Pricing Review

Global Transfer Pricing Review GLOBAL TRANSFER PRICING SERVICES Global Transfer Pricing Review Brazil kpmg.com/gtps TAX 2 Global Transfer Pricing Review Brazil KPMG observation The Base Erosion and Profit Shifting (BEPS) initiative

More information

Regulatory Practice Letter April 2013 RPL 13-09

Regulatory Practice Letter April 2013 RPL 13-09 Regulatory Practice Letter April 2013 RPL 13-09 CFPB Nonbank Supervision Larger Participants for Student Loan Servicing Proposed Rule Executive Summary The Bureau of Consumer Financial Protection (CFPB

More information

Global Transfer Pricing Review

Global Transfer Pricing Review GLOBAL TRANSFER PRICING SERVICES Global Transfer Pricing Review Australia kpmg.com TAX 2 Global Transfer Pricing Review Australia KPMG observation The transfer pricing landscape in Australia continues

More information

Managing Third Party Risks in a Global Supply Chain

Managing Third Party Risks in a Global Supply Chain Managing Third Party Risks in a Global Supply Chain The Companies You Keep William Marshall, Hong Kong Ross Denton, London Jasper Helder, Amsterdam Baker & McKenzie Amsterdam N.V. is a member firm of Baker

More information

Introduction to Special Customs Areas in China. March 11, 2009

Introduction to Special Customs Areas in China. March 11, 2009 Introduction to Special Customs Areas in China March 11, 2009 Today s speaker Rachel Tao Rachel is a Trade & Customs manager from KPMG s Shanghai office. She has been with KPMG s Trade and Customs practice

More information

UNITED STATES OF AMERICA Before the SECURITIES AND EXCHANGE COMMISSION

UNITED STATES OF AMERICA Before the SECURITIES AND EXCHANGE COMMISSION UNITED STATES OF AMERICA Before the SECURITIES AND EXCHANGE COMMISSION SECURITIES EXCHANGE ACT OF 1934 Release No. 71389 / January 24, 2014 ACCOUNTING AND AUDITING ENFORCEMENT Release No. 3530 / January

More information

Revenue Recognition for Contractors

Revenue Recognition for Contractors 1 New on the Horizon: Revenue recognition for building and construction July 2010 REAL ESTATE & CONSTRUCTION Revenue Recognition for Contractors A perspective on revenue recognition in the future AUDIT

More information

Transforming risk management into a competitive advantage kpmg.com

Transforming risk management into a competitive advantage kpmg.com INSURANCE RISK MANAGEMENT ADVISORY SOLUTIONS Transforming risk management into a competitive advantage kpmg.com 2 Transforming risk management into a competitive advantage Assessing risk. Building value.

More information

HIPAA PRIVACY FOR EMPLOYERS A Comprehensive Introduction. HIPAA Privacy Regulations-General

HIPAA PRIVACY FOR EMPLOYERS A Comprehensive Introduction. HIPAA Privacy Regulations-General HIPAA PRIVACY FOR EMPLOYERS A Comprehensive Introduction HIPAA Privacy Regulations-General The final HIPAA Privacy regulation was released on December 20, 2000 and was effective for compliance on April

More information

The current tax audit landscape: Tax environment update

The current tax audit landscape: Tax environment update The current tax audit landscape: Tax environment update Current State Revenue Collection Situation 900 000 800 000 700 000 600 000 500 000 400 000 300 000 Budgeted state collection Actual collection Contribution

More information

The three lines of defence

The three lines of defence Audit Committee Institute Sponsored by KPMG The three lines of defence 1 The three lines of defence Audit committees these days are burdened with a lengthy list of mandatory agenda items, and must find

More information

Insurance amendments

Insurance amendments Insurance amendments Proposed amendments to address the impact of IFRS 9 on insurers 10 December 2015 kpmg.com/ifrs Addressing differing effective dates The differing effective dates of IFRS 9 Financial

More information

Investment Management: Rising to the Risk and Compliance Challenge kpmg.com

Investment Management: Rising to the Risk and Compliance Challenge kpmg.com KPMG Regulatory Risk and Compliance Practice Investment Management: Rising to the Risk and Compliance Challenge kpmg.com CONTENTS New Regulatory Frontiers: Forging Ahead in a Changing Landscape 1 A Proactive

More information

Insurance Accounting AUDIT COMMITTEE NEWS. Financial Reporting. Edition 43 / Q4 2013

Insurance Accounting AUDIT COMMITTEE NEWS. Financial Reporting. Edition 43 / Q4 2013 AUDIT COMMITTEE NEWS Edition 43 / Q4 2013 Insurance Accounting Financial Reporting In June 2013 the IASB issued a revised exposure draft (ED) of its proposal for a financial reporting standard on Insurance

More information

Investment Structures for Real Estate Investment Funds. kpmg.com

Investment Structures for Real Estate Investment Funds. kpmg.com Investment Structures for Real Estate Investment Funds kpmg.com Contents Investment Structures for Real Estate Investment Funds 01 Who Are the Investors? 02 In What Assets Will the Fund Invest? 03 Will

More information

Key Elements of International Trade Compliance. Presented by:

Key Elements of International Trade Compliance. Presented by: Key Elements of International Trade Compliance Presented by: International Business Transactions International Civil Litigation 2 I. Introduction Every international shipment implicates at least TWO legal

More information

New Accountancy Act. KPMG in Bulgaria

New Accountancy Act. KPMG in Bulgaria New Accountancy Act KPMG in Bulgaria Contents Overview of the amendments set out in the new Accountancy Act 3 New categories for entities and groups 4 Public interest entities (PIEs) 5 Preparation of annual

More information

Tax @ KPMG. kpmgcampus.com

Tax @ KPMG. kpmgcampus.com Tax @ KPMG kpmgcampus.com b Tax @ KPMG Tax @ KPMG 1 We are making a significant investment in our people to help them grow and develop at KPMG Tax. Skip Robichaux, Tax Partner and People Leader The world

More information

Your incentive compensation plans have no borders. Why should your compliance processes? Powered by KPMG LINK Global Equity Tracker

Your incentive compensation plans have no borders. Why should your compliance processes? Powered by KPMG LINK Global Equity Tracker Your incentive compensation plans have no borders. Why should your compliance processes? Powered by KPMG LINK Global Equity Tracker Take care of risks before take off Challenges of mobility Incentive compensation

More information

GLOBAL INDIRECT TAX. Argentina. Country VAT/GST Essentials. kpmg.com TAX

GLOBAL INDIRECT TAX. Argentina. Country VAT/GST Essentials. kpmg.com TAX GLOBAL INDIRECT TAX Argentina Country VAT/GST Essentials kpmg.com TAX b Argentina: Country VAT/GST Essentials Argentina: Country VAT/GST Essentials Contents Scope and Rates 2 What supplies are liable to

More information

R&D Tax Relief. Subsea UK Technical Session. 27 April 2011

R&D Tax Relief. Subsea UK Technical Session. 27 April 2011 R&D Tax Relief Subsea UK Technical Session 27 April 2011 Content Overview of R&D relief 3 SME definition 9 Conditions for claiming relief 13 Qualifying Expenditure 17 Definition of R&D for tax purposes

More information

IE Singapore iadvisory Seminar Doing Business in Japan: General Overview of Taxation in Japan

IE Singapore iadvisory Seminar Doing Business in Japan: General Overview of Taxation in Japan IE Singapore iadvisory Seminar Doing Business in Japan: General Overview of Taxation in Japan KPMG Tax Corporation March 12, 2013 Overview of Japanese tax (1/4) In general, a high tax jurisdiction Primary

More information

International Trade and Customs Law Bulletin

International Trade and Customs Law Bulletin International Trade and Customs Law Bulletin January 2005 Fasken Martineau DuMoulin LLP AMPS Backgrounder Vancouver Calgary Toronto Montréal Québec City New York London Johannesburg The AMPS As of October

More information

STABLE VALUE PORTFOLIO OF THE WILMINGTON TRUST FIDUCIARY SERVICES COMPANY COLLECTIVE INVESTMENT TRUST FOR EMPLOYEE BENEFIT PLANS. Financial Statements

STABLE VALUE PORTFOLIO OF THE WILMINGTON TRUST FIDUCIARY SERVICES COMPANY COLLECTIVE INVESTMENT TRUST FOR EMPLOYEE BENEFIT PLANS. Financial Statements FINANCIAL STATEMENTS Stable Value Portfolio of the Wilmington Trust Fiduciary Services Company Collective Investment Trust for Employee Benefit Plans Year Ended With Report of Independent Auditors Financial

More information

Treasure Trove The Rising Role of Treasury in Accounts Payable

Treasure Trove The Rising Role of Treasury in Accounts Payable Treasury and Trade Solutions North America July 30, 2015 Treasure Trove The Rising Role of Treasury in Accounts Payable 2015 Citibank, N.A. All rights reserved Today s Speakers Andrew Bartolini Chief Research

More information

Services Summary TRADITIONAL CUSTOMS SERVICES. Instruments of International Traffic Foreign market entry plans

Services Summary TRADITIONAL CUSTOMS SERVICES. Instruments of International Traffic Foreign market entry plans Services Summary What distinguishes GTS from others is our ability to identify your business needs, customize a practical solution and take the action steps necessary to implement that solution. Our practice

More information

Solvency I update. Gui Iglesias KPMG in the UK

Solvency I update. Gui Iglesias KPMG in the UK Solvency I update Gui Iglesias KPMG in the UK 23 June 2016 What is Solvency II? Solvency II New EU Regulation effective 01/01/2016, designed to Provide greater protection to policyholders through an enhanced

More information

Strategies to Help Vendors Optimize Their Long-term Global Contracts

Strategies to Help Vendors Optimize Their Long-term Global Contracts THE INDUSTRIAL PERSPECTIVE Strategies to Help Vendors Optimize Their Long-term Global Contracts May 2010 KPMG INTERNATIONAL HAVE YOU CONSIDERED ALL THE ISSUES? The following questions may help vendors

More information

Tax, Legal, Bookkeeping & Payroll Services 2015 kpmg.hr

Tax, Legal, Bookkeeping & Payroll Services 2015 kpmg.hr KPMG IN CROATIA Tax, Legal, Bookkeeping & Payroll Services 2015 kpmg.hr High performing people cutting through complexity to deliver informed perspectives and clear solutions that our clients and stakeholders

More information

IFRS 16 Leases. A more transparent balance sheet. 13 January 2016. kpmg.com/ifrs

IFRS 16 Leases. A more transparent balance sheet. 13 January 2016. kpmg.com/ifrs IFRS 16 Leases A more transparent balance sheet 13 January 2016 kpmg.com/ifrs More transparent lease accounting IFRS 16 will bring most leases on-balance sheet from 2019. All companies that lease assets

More information

STARLIGHT CHILDREN S FOUNDATION GLOBAL OFFICE. Financial Statements. December 31, 2014. (With Independent Auditors Report Thereon)

STARLIGHT CHILDREN S FOUNDATION GLOBAL OFFICE. Financial Statements. December 31, 2014. (With Independent Auditors Report Thereon) Financial Statements (With Independent Auditors Report Thereon) Table of Contents Page Independent Auditors Report 1 Statement of Financial Position 3 Statement of Activities 4 Statement of Functional

More information

Thinking Beyond Borders

Thinking Beyond Borders INTERNATIONAL EXECUTIVE SERVICES Thinking Beyond Borders Jordan kpmg.com Jordan Introduction Individual income tax is calculated at rate of 7 percent on the first 12,000 Jordan dinars (JOD) of taxable

More information

Your mobile workforce is spread out, manage the complexity in one place. Powered by KPMG LINK Global Mobility Portal

Your mobile workforce is spread out, manage the complexity in one place. Powered by KPMG LINK Global Mobility Portal Your mobile workforce is spread out, manage the complexity in one place. Powered by KPMG LINK Global Mobility Portal Ready for departure 2014 KPMG International Cooperative ( KPMG International ). KPMG

More information

Vendor Risk Management in the New Regulatory Environment. kpmg.com

Vendor Risk Management in the New Regulatory Environment. kpmg.com Vendor Risk Management in the New Regulatory Environment kpmg.com Vendor Risk Management in the New Regulatory Environment 2 Vendor Risk Management in the New Regulatory Environment Background Regulators

More information

Regulatory Practice Letter May 2013 RPL 13-10

Regulatory Practice Letter May 2013 RPL 13-10 Regulatory Practice Letter May 2013 RPL 13-10 Senior Designations for Financial Advisers- CFPB Report Executive Summary The Bureau of Consumer Financial Protection s (CFPB or Bureau) Office of Financial

More information

evolving nature of cyber security risks

evolving nature of cyber security risks Managing the evolving nature of cyber security risks NatWest Trustee & Depositary Service Fund Management Industry Conference 21 April 2016 Agenda 1. Overview of the cyber security landscape 2. Cyber security

More information

New CFPB mortgage servicing rules present significant challenges for mortgage servicers

New CFPB mortgage servicing rules present significant challenges for mortgage servicers New CFPB mortgage servicing rules present significant challenges for mortgage servicers Prepared by: Jose Vivar, Director, McGladrey LLP 312-634-4394, jose.vivar@mcgladrey.com Michael Sher, Partner, McGladrey

More information

Wells Fargo Bank, N.A. Collective Investment Funds. annual report

Wells Fargo Bank, N.A. Collective Investment Funds. annual report Wells Fargo Bank, N.A. Collective Investment Funds 2015 annual report Table of Contents Independent Auditors Report 1 Page Financial Statements: Wells Fargo/BlackRock Bond Index CIT 3 Wells Fargo/BlackRock

More information

Global Transfer Pricing Review

Global Transfer Pricing Review GLOBAL TRANSFER PRICING SERVICES Global Transfer Pricing Review Germany kpmg.com TAX 2 Global Transfer Pricing Review Germany KPMG observation Transfer pricing is one of the highest priority issues for

More information

Higher Education Tax Update Southern Association of College and University Business Officers Workshop June 2, 2015

Higher Education Tax Update Southern Association of College and University Business Officers Workshop June 2, 2015 Higher Education Tax Update Southern Association of College and University Business Officers Workshop June 2, 2015 Donald E. Dee Rich, Jr. Partner KPMG LLP Development and Exempt Organizations Tax Practice

More information

Regulatory Practice Letter January 2014 RPL 14-03

Regulatory Practice Letter January 2014 RPL 14-03 Regulatory Practice Letter January 2014 RPL 14-03 CFPB Nonbank Supervision of Student Loan Servicers Final Rule CFPB Student Loan Ombudsman - Annual Report Executive Summary Effective March 1, 2014, the

More information

Valuation Services. Global Capabilities Delivered Locally KPMG LLP

Valuation Services. Global Capabilities Delivered Locally KPMG LLP Valuation Services Global Capabilities Delivered Locally KPMG LLP Today s global environment has elevated the importance of valuations that support financial reporting, tax planning, litigation, and mergers

More information

Software License Asset Management (SLAM) Part III

Software License Asset Management (SLAM) Part III LANDesk White Paper Software License Asset Management (SLAM) Part III Structuring SLAM to Solve Business Challenges Contents The Third Step in SLAM: Optimizing Your Operations.... 3 Benefiting from Step

More information

The Effective People Manager. Open Course: 29-31 May 2013

The Effective People Manager. Open Course: 29-31 May 2013 The Effective People Manager Open Course: 29-31 May 2013 The Effective People Manager The Effective People Manager will give you the opportunity to focus intensely on your role and responsibilities as

More information

www.pwc.com The data breach lifecycle: From prevention to response IAPP global privacy summit March 6, 2014 (4:30-5:30) Draft v8 2-25-14

www.pwc.com The data breach lifecycle: From prevention to response IAPP global privacy summit March 6, 2014 (4:30-5:30) Draft v8 2-25-14 www.pwc.com The data breach lifecycle: From prevention to response IAPP global privacy summit (4:30-5:30) Draft v8 2-25-14 Common Myths 1. You have not been hacked. 2. Cyber security is about keeping the

More information

UK Payments & the Payments Systems Regulator

UK Payments & the Payments Systems Regulator UK Payments & the Payments Systems Regulator 4 th December 2014 Sydney UK Payments is a game of two sectors APACS UK Payments Council Schemes & Operations Separation Payment float elimination Cheques elimination

More information

The Changing IT Risk Landscape Understanding and managing existing and emerging risks

The Changing IT Risk Landscape Understanding and managing existing and emerging risks The Changing IT Risk Landscape Understanding and managing existing and emerging risks IIA @ Noon Kareem Sadek Senior Manager, Deloitte Canada Chris Close Senior Manager, Deloitte Canada December 2, 2015

More information

KPMG s Financial Management Practice. kpmg.com

KPMG s Financial Management Practice. kpmg.com KPMG s Financial Management Practice kpmg.com 1 KPMG s Financial Management Practice KPMG s Financial Management (FM) practice, within Advisory Management Consulting, supports the growing agenda and increased

More information

A Guide to for Financial Instruments in the Public Sector

A Guide to for Financial Instruments in the Public Sector November 2011 www.bdo.ca Assurance and accounting A Guide to Accounting for Financial Instruments in the Public Sector In June 2011, the Public Sector Accounting Standards Board released Section PS3450,

More information

Financial Reporting Update

Financial Reporting Update Financial Reporting Update February 2009 Issue 50 KPMG CHINA PROFESSIONAL PRACTICE HK(IFRIC) 17 Distributions of non-cash assets to owners In this issue: Scope 1 Issues and IFRIC s consensus 2 Amendments

More information

KPMG LLP Credit Risk Management Practices 2014 Survey on Credit Bureau Reporting

KPMG LLP Credit Risk Management Practices 2014 Survey on Credit Bureau Reporting KPMG LLP Credit Risk Management Practices 2014 Survey on Credit Bureau Reporting July 2014 kpmg.com Introduction Dear Colleagues: Credit reports play an important role in the lives of consumers. As the

More information

Argyll, Bute and Dunbartonshires Criminal Justice Social Work Partnership Joint Committee

Argyll, Bute and Dunbartonshires Criminal Justice Social Work Partnership Joint Committee INFRASTRUCTURE, GOVERNMENT & HEALTHCARE Argyll, Bute and Dunbartonshires Criminal Justice Social Work Partnership Joint Committee Annual audit report to the members of the Joint Committee and the Controller

More information

KPMG s National Broker-Dealer Practice Survey Results

KPMG s National Broker-Dealer Practice Survey Results KPMG s National Broker-Dealer Practice Survey Results Insights into how brokerdealers are implementing the recent SEC Rule 17a-5 Amendments kpmg.com 2 KPMG s National Broker-Dealer Practice Survey Results

More information

Are Your Tax-Free Inter-Corporate Dividends in Jeopardy?

Are Your Tax-Free Inter-Corporate Dividends in Jeopardy? Are Your Tax-Free Inter-Corporate Dividends in Jeopardy? May 27, 2015 No. 2015-23 Canadian corporations that receive dividends from other Canadian corporations may be adversely affected by a recently expanded

More information

INSIDER TRADING AND BLACKOUT POLICY

INSIDER TRADING AND BLACKOUT POLICY INSIDER TRADING AND BLACKOUT POLICY Amended and Restated by the Board of Directors on December 22, 2011 Page 1 of 11 TABLE OF CONTENTS 1. EXECUTIVE SUMMARY... 3 2. INTRODUCTION... 4 3. MATERIAL INFORMATION...

More information

Citi Supplier Finance

Citi Supplier Finance Treasury & Trade Solutions North America Trade Finance Citi Supplier Finance Supplier Finance Program for UTC Suppliers The Solution UTC and Citi have entered into a partnership that enables preferred

More information

Balancing supplier risk versus reward. kpmg.com

Balancing supplier risk versus reward. kpmg.com Business Effectiveness Balancing supplier risk versus reward kpmg.com 1 / Balancing supplier risk versus reward In the wake of constant demand and supply market changes driven by recent economic crises,

More information

Effectively using SOC1, SOC2 and SOC3 reports for increased assurance over outsourced controls. kpmg.com

Effectively using SOC1, SOC2 and SOC3 reports for increased assurance over outsourced controls. kpmg.com Effectively using SOC1, SOC2 and SOC3 reports for increased assurance over outsourced controls kpmg.com b Section Effectively or Brochure using SOC1, name SOC2 and SOC3 reports for increased assurance

More information

Regulatory Practice Letter September 2014 RPL 14-15

Regulatory Practice Letter September 2014 RPL 14-15 Regulatory Practice Letter September 2014 RPL 14-15 Checking Account Overdrafts CFPB Reports and Industry Updates Executive Summary The Consumer Financial Protection Bureau s (CFPB or Bureau) Office of

More information

Provision Challenges. Allowances. Tax Executives Institute. May 7, 2012

Provision Challenges. Allowances. Tax Executives Institute. May 7, 2012 Selected Tax Provision Challenges Valuation Allowances Tax Executives Institute May 7, 2012 Notice ANY TAX ADVICE IN THIS COMMUNICATION IS NOT INTENDED OR WRITTEN BY KPMG TO BE USED, AND CANNOT BE USED,

More information

Centralizing Treasury in Latin America

Centralizing Treasury in Latin America Centralizing Treasury in Latin America Liquidity Perspectives Ron Chakravarti Managing Director Treasury Advisory Citi Treasury and Trade Solutions Treasury Models: Some Variations Group Treasury Local

More information

The Role of Financing Team Members: Impact of the New Municipal Advisor Regulations

The Role of Financing Team Members: Impact of the New Municipal Advisor Regulations The Role of Financing Team Members: Impact of the New Municipal Advisor Regulations David Leifer, Senior Managing Director KNN Public Finance June 10, 2015 1300 Clay Street, Suite 1000, Oakland, CA 94612

More information

Sanchez Energy Corporation. Code of Business Conduct and Ethics

Sanchez Energy Corporation. Code of Business Conduct and Ethics Sanchez Energy Corporation Code of Business Conduct and Ethics Introduction The Board of Directors (the Board ) of Sanchez Energy Corporation (the Company ) has adopted this Code of Business Conduct and

More information

publish in advance any regulation governing customs matters that it proposes to adopt; and

publish in advance any regulation governing customs matters that it proposes to adopt; and CHAPTER SIX CUSTOMS ADMINISTRATION ARTICLE 6.1 : PUBLICATION AND NOTIFICATION 1. Each Party shall ensure that its laws, regulations, guidelines, procedures, and administrative rulings governing customs

More information