Global Tax Strategy in Response of COVID-19 Environment

Miguel Juarez-Mendieta

Director - International Tax at Marriott International

Learning Objectives

As a result of COVID-19, there have been residence implications for individuals and corporations. In response, the government has developed incentives, credits, and new tax compliance. Teleworking, or working from home, is the new normal and with that it brings on new regulations and tax implications. Due to the pandemic, there is a measurement of tax risk and we must use tax analytics as well as US GAAP, IFRS, and new accounting principles to combat the issues brought on by COVID-19. In addition, the world has had to adapt regarding traveling as there is new corporate policies, and employee restrictions for traveling and updates on the code of conduct. However, there are new tax opportunities and tax strategy because of COVID-19 and there is a global tax strategy for multinational corporations in response to the pandemic.

Key Takeaways:

  • An overview of tax implications generated by Teleworking (home office work environment) as such tax residence, travel restrictions, incentives, and new regulations

  • Recognizing the importance to measure tax risk derived by COVID-19

  • Tax strategies that can be implemented by multinational corporations in the US, Latin America, and Europe