New York, New York--(Newsfile Corp. - April 16, 2024) - KPMG LLP, the U.S. audit, tax, and advisory firm, today announced that Michael Plowgian, a leading voice in international tax policy, has rejoined the firm as a principal in Washington National Tax. He will also serve as the International Tax Policy Lead for the Americas and on the Global Policy Leadership Team.
Plowgian returns to KPMG after serving as Deputy Assistant Secretary for International Tax Affairs at the U.S. Department of the Treasury and as the top U.S. negotiator to the Organisation for Economic Co-operation and Development (OECD) on its two-pillar tax reform plan.
"Michael's first-hand experience negotiating at the OECD will be invaluable to our multinational clients grappling with its implementation," said Rema Serafi (@remaserafi), Vice Chair - Tax, KPMG LLP. "His deep technical knowledge, client-centric approach, and public service background will significantly enhance our ability to guide companies through this seismic shift in global tax rules."
At the OECD, Plowgian played a central role in advancing the two-pillar plan, which includes reallocating taxing rights for the largest multinationals and instituting a global minimum tax. In particular, he led the U.S. negotiations on developing guidance to implement critical elements of the global anti-base erosion rules under Pillar Two - guidance which continues to evolve even as countries enact legislation to adopt the rules.
"The new international tax landscape is extraordinarily complex, with far-reaching impacts on companies' tax positions, compliance, operations and more," said Danielle Rolfes, partner in charge - Washington National Tax, KPMG LLP. "Michael's return comes at an ideal time as our clients urgently need to assess their readiness and strategically plan for the ripple effects."
While the U.S. has not yet adopted the OECD deal, U.S. multinationals will need to comply with the 15% global minimum tax in countries implementing Pillar Two, as of January 1, 2024. Proactive analysis and planning will be important to adapt to these changes.
Plowgian holds a J.D. from Harvard Law School, an M.A. in Law and Diplomacy from The Fletcher School at Tufts University, and a B.A. from Denison University.
About KPMG LLP
KPMG LLP is the U.S. firm of the KPMG global organization of independent professional services firms providing audit, tax and advisory services. The KPMG global organization operates in 143 countries and territories and has more than 273,000 people working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.
KPMG is widely recognized for being a great place to work and build a career. Our people share a sense of purpose in the work we do, and a strong commitment to community service, inclusion and diversity and eradicating childhood illiteracy. Learn more at www.kpmg.com/us.
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SOURCE: KPMG LLP
