Lawrence Harwood

• Successfully developing an Australian and US based international tax management platform for a fast-growing USD$5 billion plus communication and technology business with operations in Australia, USA, Canada, HK and Europe that has grown over 400% in 4 years.

Key Achievements

• Tax management - managing the group tax function across Australia the US, Canada and Europe and expanding coverage across major acquisitions and expansions especially in the US, UK and Europe for all advisory, tax compliance, consolidations, M&A, thin cap, tax audit defence, GST, R&D, FBT and employment tax requirements with emphasis establishing comprehensive process improvements and value
• Technology and process improvement advocate - implemented key tax process improvements with the introduction of Reuters One Source to manage tax compliance reporting and Digital Gateway to manage multiple jurisdiction tax task management to support the business
• Tax governance - developed from scratch a tax risk management framework supported by detailed tax policies and processes that were reviewed by the ATO in2021 as part of the ATO Justified Trust Program achieving a rating 2 placing the organisation in the top 25% of the top 1000 tax payers in Australia across income tax and GST
• Developed corporate tax compliance process for the Australian consolidated group as well as reporting over 460 US returns, 1500 sales tax returns and400 property tax returns in addition to filings in Canada, UK, HK and Australia all returns completed on time and on budget
• US, Australian and UK due diligence - drove to completion comprehensive reviews of sales and property tax in over40 states in the US de-risking over USD$18m in potential tax liabilities to under USD$250k, developing a FIRPTA position for USD$2 billion restore and sale
• Tax opportunity - identified and actioned in Australia an accelerated tax deductions opportunity of over A$120m immediate deduction which increased the business valuation by over A$25m through a capital review project that required the rebuild of the TFAR over a 10 year period and reassessment of group wide amortisation policies
• Tax opportunity - developed and implemented a US based smart register for over $2 billion in assets that supports9 different tax asset reporting positions across income tax, sales tax, property tax, FIRPTA and reporting saving millions per year eg property savings $12m
• Transfer pricing - managing and negotiating a significant Australian transfer pricing tax audit in the hundreds of millions to settlement within 8 months after a 7-year dispute for a settlement below expected range saving the organisation millions in potential taxes and penalties
• Transfer pricing - developed from scratch comprehensive and effective transfer pricing framework and polices supported by robust documentation across intangibles, services and other related party transfers which were successfully tested by the IRS and ATO
• Tax audits - closing of a significant tax audit with the IRS for nil adjustments after developing detailed transfer pricing documentation to support related party intangible and service transfers
• GST/VAT – proactively redesigning, de-risking US sales tax across multiple US businesses over USD$20m and completing comprehensive operational reviews to harmonise new businesses within the Boldyn group
• R&D - implementation of R&D claim for first time for organisation in Australia and the US
• M&A - led tax structuring and due diligence of multiple acquisitions from USD$20m to USD$1.6 including purchasing several local regional broadcast business assets
• Tax audit - closing a significant sale and use tax audit from an initial USD$5m advisor assessment to only $134k and successfully challenged NY State property tax assessments in a relatively complex area of legal and tax law achieving a revised tax assessment USD$1.8m pa lower than advisor recommendations
• Elevating the profile of tax in the organisation with very positive feedback from the business, finance, CFO and Board

• Group Tax Manager at Nuplex a $1.6 billion Australian / NZ based manufacture and distribution business with key responsibility to develop a global tax function for operations in over20 countries based out of Australia with sales in70 jurisdictions and to build a tax platform spanning ANZ, Asia, USA and Europe

Key Achievements

• Tax management - developed from scratch an international tax management-platform reporting in over70 countries for an Australian and NZ listed organisation spanning, all corporate tax, transfer pricing, Board reporting, tax effect accounting, FBT, dividend management and indirect taxes
• Tax governance - achieved through a focus on tax best practise reducing the Australian ATO's and NZ IDR's tax risk ratings to the lowest risk rating6 years in a row
• Transfer pricing - developed from scratch comprehensive transfer pricing reports, global policies and documentation that has been successfully tested in difficult jurisdictions like China, India, Vietnam, Indonesia, Thailand, Malaysia, USA, Australia, New Zealand, Germany
• Previously there had been significant adjustments in these jurisdictions costing millions
• Transfer pricing - preparation of global and regional and local transfer pricing reports, agreements, comparability studies covering loans, royalties, goods and services as well as BEPS, master file, local file, Australian profit diversion rules
• Transfer pricing - no transfer pricing adjustments in6 years in over20 audits and being EY’s only client that had no transfer pricing adjustments in Australia, New Zealand, China, Singapore, Vietnam, Indonesia and Thailand
• Tax Risk Framework and Tax Policy – implemented across the group a clear tax governance framework achieving the lowest risk rating from Australian and NZ tax offices
• Streamlined and improved the tax compliance process through new procedures, ensuring returns completed on time and securing external fee reductions of50%
• Implemented Tax Strategy Reviews – a proactive approach to identify tax issues, prioritise tax actions and resolve tax issues tailored to each country entity grouping, this process identified millions in tax savings across multiple jurisdictions especially in APAC
• Led strategic tax structuring, M&A and due diligence on numerous transactions from $20m to over2 billion dollars including all DD reporting through to management and the Board
• Process improvements - initiated and implemented key technologies and process improvements across; income tax compliance, VAT/ GST automation, tax filing system with the EY @task manager for over1,200 tax and finance tasks and introduced One Source for both income tax and indirect taxes across the group
• Tax compliance - reviewed all group tax returns and quarterly and annual tax reporting ANZ, APAC and USA requiring reviewing over100 returns per year
• R&D - recouping millions in additional benefits per year
• US SOX compliance
• Board and financial reporting preparing Board reports and advising on various tax risks and opportunities
• Indirect Taxes - initiated comprehensive indirect tax reviews across ANZ, Asia and the US achieving significant refunds in the millions and reductions in tax risk through process improvement

• Managing international and local taxes for the ANZ and Asia across the multibillion-dollar finance business with a focus on cross border transactions, transfer pricing, FBT, GST and cross border planning and financing
• Managing US reporting for SOX, IFRS and US GAAP and sub Part F and reviewing ANZ and Japan and Singapore tax returns

• Focus on implementing tax processes and transfer pricing in a $600m technology and services business across corporate taxes, FBT, GST and transfer pricing for the Australian and New Zealand business

• Managing a tax function for 7 years across the Pacific and Asia for DuPont a Dow top 30 manufacture and distribution business with over 18 business lines and 50,000 products
• Led and managed a tax function across ANZ and parts of Asia with a team of up to 10 people across income tax advisory and compliance, including; implementation of consolidations, ACA, tax return compliance, capital reduction, foreign dividends, and tax process and tax rulings
• A key emphasis of the role was transfer pricing and indirect taxes including successful conclusion of a significant income tax and transfer pricing tax audit and responsibility for implementing and managing GST across the group as well managing GST/ VAT reviews across many countries in Asia
• Initiated numerous tax savings projects in APAC, closed multiple tax audits across Asia with a focus on Singapore, China, India, Thailand, Malaysia, Korea, HK and Japan
• APAC M&A manger seconded for2 years to manage a major divestment from Singapore including building out US accounts for5 years for a USD$5 billion business across US GAAP and IFRS reporting
• Manager tax SOX compliance APAC

• Professional development in the corporate tax and transfer pricing teams at EY to manger level

• 1 year living and working in Japan in Hyogo, Tokyo and Osaka