1. Nexia Global Indirect Taxes SIG Hong Kong June 2014 John Voyez Smith & Williamson

2. Half day EMEA Indirect Tax meetings twice a year The need to develop an Indirect Taxes Group has gathered momentum SIG formed early 2012 Committee members from EU, Australia, India, Canada, America, and Singapore Produced our first Indirect Taxes newsletter in April 2012 Met in Miami 2012 and Rome 2013 Indirect Taxes SIG - Where we have been ?

3. EMEA half day meetings now attracting over 30 attendees Good momentum in the EU where VAT is already and mature and well respected tax and professional discipline In Hong Kong we have held two more SIG’s with good attendance, interest and debate We have just produced our fourth Indirect Taxes newsletter Newsletter and meeting notes are on the Nexia website Have been asked to advise on a number of cross country VAT projects where local advice is essential Talk in Miami to American Bar Association and American accounting firms on VAT Indirect Taxes SIG - Where we are?

4. Indirect Taxes are the future of global taxation – there is an undeniable shift away from direct tax toward indirect taxes Increasingly local indirect tax projects will take on a cross border element as the world becomes a smaller place. It will be essential that there are good advisers in place in Nexia firms around the world. There a funding and logistics issues – we cannot all get on an airplane and fly off for an indirect taxes conference – but that is the future. We continue with the newsletters and the meetings which raise the profile of indirect tax and the need for advice. End game is to have a competent professional network of global indirect tax advisers within Nexia who can respond and add value. Any tax checklist for a cross border project should already have indirect taxes on it – we aim to elevate indirect taxes to the top of the checklist Indirect Taxes SIG - Where we are going to ?

5. © 2014 Nexia International Limited. All rights reserved. The trade marks NEXIA INTERNATIONAL, NEXIA and the NEXIA logo are owned by Nexia International Limited. Nexia International and its member firms are not part of a worldwide partnership. Member firms of Nexia International are independently owned and operated. Nexia International does not accept any responsibility for the commission of any act, or omission to act by, or the liabilities of, any of its members. John Voyez Smith & Williamson