|
|
|
|
|
|
| Melton L. Spivak, Vice President of Property Tax, JPMorgan Chase & Co, a speaker at the marcus evans Tax Officers Summit XIV 2012, stresses the importance of having an international network of contacts to help construct a global tax strategy. |
NEW YORK, N.Y., Sept 7, 2012 - (ACN Newswire) - Tax Officers must continuously build an education around the changes in tax laws and procedures, says Melton L. Spivak, Vice President of Property Tax, JPMorgan Chase & Co. Developing a matrix system that is relative to the company and looking out for tax exemptions, are how property taxes can be better managed and money saved, he adds.
A speaker at the marcus evans Tax Officers Summit XIV 2012, in Las Vegas, Nevada, November 8-10, Spivak talks about the process for administrating property tax being completely decentralized and how that is why organizations fail to recognize property tax.
- What strategies should tax professionals follow to manage property tax and save money?
Professionals must stay current on changes in tax laws and procedures. They should centralize all tax notices, compliance forms and tax bills, and make sure that these bills are the right ones. Opportunities for tax exemptions, abatements and rebates should be chased.
Corporate professionals have to develop their own matrix systems relative to their company. Companies that lease a lot of properties should make sure that tax escalations are audited. Maintaining a good relationship with tax authorities is also an essential part of the strategy.
- How can global tax directors prepare for the future in these economic circumstances?
An international network of contacts must be built to fit the needs of the corporation. These resources can then be utilized to foster a global tax strategy. Successful planning requires insight of political and tax issues. Most importantly, tax professionals must never compromise their integrity.
External connections can lead tax professionals to information that is internally unavailable, and with this knowledge they can gather advice on how to do a better job.
- Why do organizations fail to recognize property tax?
The administration, payment and approval of property tax is typically decentralized. As a result, no methodical way of determining where the tax opportunities are can be calculated.
- What advice could you give on property rates?
Corporate property tax managers should be preparing for the 2015 Revaluation of the UK property tax/rates system. These costs will be better handled by engaging with a carefully selected rating surveyor who will review and propose an adjustment plan, or negotiate the rateable values for corporations with significant exposure to property rates.
- How can tax executives efficiently benefit from tax credits?
Depending on the amount of money involved and the complexity of the credits, staff must be trained to handle the tax credit process. Tax consultants or attorneys can also be retained to maximize the available benefits.
- What are some of the technology issues that they will have to face in the future?
Government tax authorities will have to employ sophisticated technologies to gather, analyze, validate and process information to determine tax liabilities. Global corporations will need to have the right software to deal with growing informational demands, and find ways of saving and recovering income from incorrect tax bills. Training will be necessary to keep them ahead of the curve.
About the Tax Officers Summit XIV 2012
This unique forum will take place at the Red Rock Casino, Resort & Spa, Las Vegas, Nevada, November 8-10, 2012. Offering much more than any conference, exhibition or trade show, this exclusive meeting will bring together esteemed industry thought leaders and solution providers to a highly focused and interactive networking event. The Summit includes presentations on corporate tax management, global property tax management, marketing the tax department, transfer pricing, and identifying mitigating transfer pricing risks.For more information please send an email to info@marcusevanscy.com or visit the event website at www.taxofficerssummit.com/MeltonLSpivakInterview
marcus evans group - finance/insurance sector portal - http://bit.ly/cQIpN5
The Finance Network - marcus evans Summits group delivers peer-to-peer information on strategic matters, professional trends and breakthrough innovations.
- LinkedIn: www.linkedin.com/groups?gid=3568428&trk=hb_side_g
- YouTube: www.youtube.com/MarcusEvansFinance
- Twitter: www.twitter.com/meSummitFinance
- SlideShare: www.slideshare.net/MarcusEvansFinance
Contact:
Maria Gregoriou,
Journalist, marcus evans, Summits Division
Tel: +357 22 849 400
Email: press@marcusevanscy.com
Topic: Research / Industry Report
Source: marcus evans Summits
Sectors: Daily Finance, Daily News
http://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
|
|
|
|
|
|
|
| marcus evans Summits |
| Jan 5, 2016 15:31 HKT/SGT |
|
How the Right Interior Design Can Lead to an Unforgettable Hotel Experience |
| Jan 5, 2016 14:53 HKT/SGT |
|
Why Hotels Need to Invest in Technology |
| Jan 5, 2016 14:15 HKT/SGT |
|
Why Defence Organisations Should Reconsider Their Talent Management Approach |
| Oct 23, 2015 03:00 HKT/SGT |
|
How to Distinguish the Right Emerging Markets to Invest in |
| Oct 22, 2015 21:20 HKT/SGT |
|
How to Design a Solid Privacy and Data Protection Programme |
| Oct 22, 2015 21:00 HKT/SGT |
|
The Wellness Model: A Business Strategy to Reduce Healthcare Costs |
| Oct 17, 2015 02:20 HKT/SGT |
|
The Changing Dynamics of the Oil Market |
| Oct 17, 2015 02:10 HKT/SGT |
|
How China's Slowdown Affects Global Investors |
| Oct 17, 2015 02:00 HKT/SGT |
|
How to Use Globalisation as a Marketing Tool |
| Sept 30, 2015 07:30 HKT/SGT |
|
The Need for Holistic Revenue Cycle Management Models |
| More news >> |
 |
|
|
|
