The Praxity Global Tax Conference, Prague

Praxity Alliance members converge on Prague’s Old Town to share wisdom and experience.

The Praxity Global Tax Conference 2023 took place at the heart of Europe in Prague, Czech Republic. Representing a chance for member firms to share knowledge about the state of tax legislation globally, the conference is one of the largest on the calendar, with 300 delegates representing Praxity Alliance members from 45 countries around the world.

Mazars Partner in Czechia, Pavel Klein, opened the conference by welcoming everyone to the Mother of Cities, alongside Kellie Becker, Partner at Plante Moran and Chair of the Global Tax Working Group. Across the conference there were a huge array of expert speakers chronicling changes and leading discussions about changes in the working environment in 2023.

New Rules, New Focus

Hot topics included new legislation about the digitalisation of the global economy, along with new areas of change about taxation on environmental pollution and carbon emissions. New GloBE rules to address tax loopholes across jurisdictions are incoming, being newly mandatory in the EU. This top-down approach seeks to address the use of parent companies in other jurisdictions to escape taxes in territories of operation.

Potential windfall taxes on the energy industry were discussed in the presentations, as were new levies on heavy industry and manufacturing to seek to address the climate crisis. There was also discussion on how Crypto assets were handled for the purpose of taxation, as well as the future of adding value to the industry though digital marketing and strategic planning. ESG legislation and thought also featured in a wide-ranging conference about the implications of new developments, including the implementation of Artificial Intelligence.