17 Jun 2020
Winding road at night

COVID-19: What’s next and beyond for tax?

By

Suwin Lee

Head of EY UK&I and China Trade Route, Head of EY Global Restructuring Tax Network, EY Global Solutions Leader for Post Deal Solutions and EY UK&I Transaction Tax Partner, Ernst & Young Europe LLP

Recognized as a trusted restructuring tax advisor. Passionate about growing EY in new and emerging markets, with a particular focus on Post Deal Services. Role model for women and minorities.

17 Jun 2020
Related topics COVID-19 Tax

How can companies preserve value and embrace the recovery, while creating long-term value and re-frame future business for the ‘new normal’?

COVID-19 presents businesses with challenges and opportunities. In ‘COVID-19: What’s next and beyond for tax?’ we explore five key issues as part of a longer-term plan, so that you can restart and create a business that is well positioned for the environment that follows on from the current pandemic.

The key themes are:

1.       Group structuring

What changes are needed to current holding, funding and operating structures? Is there anything stopping cash getting where it needs to be?

2.       Supply chain

How will changes to the future supply chain impact the groups’ tax profile? Can steps be taken to mitigate any new costs?

3.       Digitisation

Can technology facilitate new business models and help to make business more agile? Does it bring any new risks?

4.       Workforce

Are key parts of the workforce – whether individuals or larger workforces – in the best location? What is the flexibility to relocate them?

5.       Challenges and restructuring

What bumps in the road might there be? Will some parts of business need rescuing or even fail? What options are there to respond?

Download the interactive PDF: ‘COVID-19: What’s next and beyond for tax?’ 

Download

For further information on each of these topics you can also listen to our podcast series. Listen to the first podcast which features Suwin Lee, COVID-19 Tax project lead.

As the dust starts to settle, businesses are planning for the future. In this episode, Suwin Lee, COVID-19 tax project lead, explores the key issues to consider for a successful resurgence of your business. 

Presenters:

Alenka Turnsek, EY Partner, Digital Transformation and operating model advisory

Laurence Buchanan, EY EMEIA Advisory Digital Leader

As businesses start planning for the future, EY specialists Alenka Turnsek and Laurence Buchanan look at the key steps to consider around deployment of digital technologies and tax implications of their deployment.

COVID-19 insights and guidance

So much has changed recently, as mid-market leaders have had to make sure their immediate response and action fixes short-term problems, but also provides a platform for the future. To help keep pace with the current crisis, you’ll find an array of resources at our Responding to COVID-19 hub

Summary

‘What’s next and beyond for tax?’ outlines responding to bumps in the road and preparing for future crises

About this article

By

Suwin Lee

Head of EY UK&I and China Trade Route, Head of EY Global Restructuring Tax Network, EY Global Solutions Leader for Post Deal Solutions and EY UK&I Transaction Tax Partner, Ernst & Young Europe LLP

Recognized as a trusted restructuring tax advisor. Passionate about growing EY in new and emerging markets, with a particular focus on Post Deal Services. Role model for women and minorities.

Related topics COVID-19 Tax