European Chapter meets in Madrid; Winter Conference focuses on benchmarking, Tony Maggiore receives chapter award.Benchmarking and Managing the Tax Function was the subject of the two-day winter conference held by TEI's European European emanating from or pertaining to Europe. European bat lyssavirus see lyssavirus. European beech tree fagussylvaticus. European blastomycosis see cryptococcosis. Chapter at the Hotel Villa Magna in Madrid. Nearly 100 TEI 1. (communications) TEI - Terminal Endpoint Identifier. 2. (text, project) TEI - Text Encoding Initiative. members and guests attended the February 2-3 program, which was hosted by Ignacio Longarte of Hewlett-Packard Company and featured speakers from Deloitte & Touche's European offices. Chapter president Mark Gyorog of Gemplus Management and Trading opened the conference with an update on recent chapter activities. TEI Vice President-Region IX Anthony Maggiore and TEI General Counsel Mary Lou Fahey provided reports on proposed organizational changes within the Institute and on the Institute's 2006 membership initiative. Carol A. Schapira of Shell International Exploration and Production BV presented the results of a chapter survey. An update on Spanish transfer pricing Transfer pricing refers to the pricing of goods and services within a multi-divisional organization, particularly in regard to cross-border transactions. For example, goods from the production division may be sold to the marketing division, or goods from a parent company may be rules by Mr. Longarte and a member roundtable completed the chapter meeting portion of the program. The technical program featured sessions on global trends in the tax department, analyzing a company's effective tax rate, and tax key performance indicators Key Performance Indicators (KPI) are financial and non-financial metrics used to quantify objectives to reflect strategic performance of an organization. KPIs are used in Business Intelligence to assess the present state of the business and to prescribe a course of action. . In a session on an investor's view of the tax function, Rob Lake of Henderson Global Investments reported on a recent survey of U.K. companies on the amount of boardlevel attention given to tax issues. He explained that although tax is a normal risk management issue, it has not received sufficient "strategic board attention," concluding that company boards need to better understand tax risks and the consequences of successful challenges by tax authorities to tax strategies. On the second day of the program, a panel of TEI members discussed how their companies manage with limited resources. Arjan Dobber of Lenovo, Lluis M. Fargas of Alcoa Europe SA, and Joan Van Diemen Van Diemen International, Ltd. is a British race car manufacturer based in Snetterton, Norfolk, England. The company has a reputation for high-volume production runs of its cars, the most well-known of which is its series of Formula Ford chassis, which have been at the of Hewlett-Packard Company focused on balancing between internal and external resources and ways to spread costs among functions. Later, Olivier Hermann of 3M Company participated in a panel on engaging and working with outside tax advisers. Other topics included characteristics of a world-class tax function and tax risk management and strategy. During the program, the chapter presented Mr. Maggiore an award for his service to the chapter and the Institute. Mr. Maggiore was a charter member of the chapter and its second president, and at the Institute level, serves on TEI's Task Force on Structure and Governance Governance makes decisions that define expectations, grant power, or verify performance. It consists either of a separate process or of a specific part of management or leadership processes. Sometimes people set up a government to administer these processes and systems. . A highlight of the two days was a Spanish wine Spain is the third largest producer of wine in the world, the largest being Italy and France . Historically, Spain has been known from the production of fortified wines and the best known Spanish wine tasting before the Thursday night dinner, sponsored by Deloitte & Touche. The chapter's next meeting will be held May 23-24, 2006, in Budapest on EU Accession Coming into possession of a right or office; increase; augmentation; addition. The right to all that one's own property produces, whether that property be movable or immovable; and the right to that which is united to it by accession, either naturally or artificially. Two Years On. For information, visit the chapter website at www.tei.org. |
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