The Tax Function of the futureEMA Tax Summit—London, September 2016

2© 2016 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.

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3© 2016 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.

Agenda

Session name Speaker

Introductions & overview Chris Downing

The challenges facing the Tax Function of the future Chris Downing

The Finance Function of the future Gavin Donaldson

Panel discussion hosted by Mark Body Panel

Q&A from the audience Panel/all

Close Chris Downing

The changing world of TaxChris DowningPartner KPMG in the UK

5© 2016 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.

6© 2016 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.

Governance & Control

Measurement of Performance

EfficiencyStakeholderManagement

Insight & Analysis

What are the key challenges?

The changing world of the Finance FunctionGavin DonaldsonPartner KPMG in the UK

8© 2016 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.

Finance of the future CFO. Are CFOsready for the challenge

Disruptive Technology

Data as a Competitive Advantage

Convergence of

specialisms

Collaboration

Finance 2020TrendsCFO evolves to

“Chief Performance

Officer” Co-pilot with the business

Owning outcomes

One business plan, data,

process, KPIs, reporting and BI with

Finance as Custodian

HighlyDigitised

workforce and significantlyLower cost of

finance

Panel discussionHost:

Melissa GeigerSVP, Global Head of Tax GSK plc

Thomas BrandtHead of Tax Administration Unit OECD

Gavin DonaldsonPartnerKPMG in the UKMark Body

DirectorKPMG in the UK

10© 2016 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.

Governance & Control

Measurement of Performance

EfficiencyStakeholderManagement

Insight & Analysis

What are the key challenges?

Questions

Summary

13© 2016 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.

What the future could look like“There will be more data scientists than tax professionals in the tax function of

the future”

“All tax will be calculated and

settled in real time”

“The entire tax function will be

outsourced”

“Sentiment analysis will transform transfer pricing” “Tax engines

have gotten better – SAP and Oracle have not…”

“Big Data will close the Tax

gap”

“Periodic returns will be a thing of the

past”

“The entire tax function

will be automated”

“Your Data will become very interesting to others”

“Tax risk will not be managed by the tax function but by risk and internal audit”

“Systems will be as sophisticated and agile as tax processes and

changes”

“Organisationswill be designed

to capture all transaction data once and use it

repeatedly”

“Information is beautiful – see

things in new ways”

“Organisationswill use Big

Data to drive the top line”

“You won’t control all of

your data anymore”

“New Taxes will appear in new

countries, almost overnight” “Tax specialists will evolve

into data scientists”

“Cloud will allow you to use and access systems without

having to buy them - you won’t need any of your own

servers to deal with tax”

“We will be drowning in data. We will

need to design processes to keep afloat”

“Cloud outsourcing will allow you to streamline your team and focus on adding

value”

“Every country will have a VAT regime... apart from the USA”

“Predictive analytics will transform risk

management & audit”

“Taxis part of the

buying decision”

Thank you

15© 2016 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.

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Fragmentation and controversyTax in a post-BEPS world

© 2016 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.

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