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Developments in Tax Laws Discussed at Annual Global Tax Forum

By Crystal Bueno | May 15, 2018

Over 150 clients and industry tax professionals came together for DTCC’s 19th Annual Global Tax Forum on Thursday, April 26 to discuss legislation, regulations and other significant changes to the U.S. tax code, including solutions developed by DTCC to help clients comply with 871(m) and 305(c) regulations.

The half-day program, held at the Convene Conference Center on Old Slip in lower Manhattan, featured presenters representing a wide range of industry organizations, such as banks,  accounting firms and law firms.  Speakers and tax subject matter experts included DTCC, BNY Mellon, Ernst & Young, Goldman Sachs, Pricewaterhouse Coopers, Sullivan and Cromwell, and Globe Tax Services.

With the passage of the Tax Cuts and Job Act in 2017, considered the most wide-ranging piece of U.S. tax legislation to be passed in over 30 years, interactive discussions among attendees ranged from implementation of processes to adhere to 871(m) and 305(c) regulations, the challenges of data integration, and the future of withholding tax on dispositions of publicly traded partnerships.

Other presentations included:

  • 305(c) Tax Event Update
  • US Tax Reform: Partnership and Other Withholding
  • 871(m) Year One review and implementation challenges
  • Foreign Tax Relief Update

“Industry collaboration in this segment of the business is absolutely vital to help DTCC develop and implement solutions,” said Nardeo Ganesh, Executive Director, DTCC Settlement and Asset Services. “The annual Global Tax Forum is an invaluable opportunity for our clients and the industry to come together to discuss challenges and implications of this evolving tax landscape.”