The evolving boundaries of tax

Continental Breakfast and Registration

Welcome Remarks and Recognition of Symposium Mission

International Tax Regime: Shifting Borders and Eroding Boundaries

To open the Symposium, this panel will provide a high-level overview of governmental actions affecting the taxation of cross-border business activities ranging from the implementation of BEPS to unilateral actions such as the Diverted Profits Tax and digital services taxes to US tax reform. The panel will explore what the various governmental actions mean for the stability of the international tax regime, risks of excess taxation, and future direction; as well as the import of destination-based features of recent tax changes, including the Tax Cuts and Jobs Act. The panel will consider whether the enactment of US tax reform is the final step or, together with proposals for market-based intangibles, digital PEs, and retreats from the arms’-length standard, merely the next step in reconsideration of the international tax regime.

Moderator:
Pam Olson, US Deputy Tax Leader & Washington National Tax Services (WNTS) Practice Leader, PwC
Panelists:
Barbara Angus, Former Chief Tax Counsel, House Committee on Ways and Means
Chip Harter, Deputy Assistant Secretary (International Tax Affairs), U.S. Department of the Treasury
Paul Nolan, Vice President – Tax & Government Affairs, McCormick & Company, Inc.
Vicki Perry, Deputy Director, Fiscal Affairs Department, International Monetary Fund

Impact of Globalization and Digitalization on Taxes

The OECD returned to analyzing the impact of digitalization and globalization on the international tax rules and divisions among OECD members on the existence and scope of the issue. The OECD’s digital tax working group identified three different country views regarding taxation of the digital economy: (1) no change required, (2) change required for digital companies only, and (3) change of the international tax rules may be required to reflect economic changes stemming from globalization and digitization. The panel will explore what is driving the debate, the options under consideration, the prospect for consensus, and the impact of the US Supreme Court’s analysis in Wayfair on the debate.

Moderator:
Will Morris, Deputy Global Tax Leader, PwC
Panelists:
Mindy Herzfeld, Of Counsel, Ivins, Phillips & Barker
Brian Jenn, Deputy International Tax Counsel, U.S. Department of the Treasury
Paul Oosterhuis, Of Counsel, Skadden, Arps, Slate, Meagher & Flom LLP

Break

GILTI & FDII Implementation: Lessons Learned

The first of three panels exploring the TCJA international tax regime will focus on GILTI and FDII. The panel will discuss the policy intentions behind these provisions and whether they appear to be achieving their design goal and whether the provisions are in violation of international rules. The panel will also address issues in this area that are top of mind for many tax directors such as expense allocation and definition of foreign use, and whether the group anticipates further changes or clarifications as the regulations move towards finalization.

Moderator:
Danielle Rolfes, Partner, Co-lead International Tax, Washington National Tax, KPMG
Panelists:
Jackie Crouse, Vice President, Taxes, Amgen Inc.
Holly Goughnour, Vice President, Tax, International Paper
Jose Murillo, Leader, International Tax Services, EY
Gary Scanlon, Attorney-Advisor, Office of the International Tax Counsel, U.S. Department of the Treasury
Chris Wolter, Vice President, Tax, The Boeing Company

A Conversation with David Kautter, Assistant Secretary for Tax Policy, U.S. Department of the Treasury

Moderator: Pam Olson, US Deputy Tax Leader & Washington National Tax Services (WNTS) Practice Leader, PwC

Luncheon and Pillar of Excellence Award presentation

Award Recipient: Martin A. Sullivan, Chief Economist and Contributing Editor, Tax Analysts

We got the BEAT… and now what do we do?

The second panel exploring the TCJA international tax regime will focus on the BEAT, a minimum tax with a destination-based focus. The panel will address the expected and unexpected complexities raised by the BEAT, how taxpayers are addressing these complexities and impacts, the current state of the guidance, and where we go from here.

Moderator:
Rocco Femia, Member, Miller & Chevalier Chartered
Panelists:
John Misso, Senior Tax Counsel, Shell Oil Company
Kevin Nichols, Senior Counsel, Office of the International Tax Counsel, U.S. Department of the Treasury
Mark Prater, Managing Director, Tax Policy Services, PwC
Tim Wright, Vice President, Tax Planning & International Tax, FedEx

Trust, but Model

The final panel discussing TCJA implementation will focus on the interactions between and modeling of the various provisions. The panel will discuss how the new provisions come together and impact one another, but also go a step further and consider how these provisions interact with long-standing rules, such as transfer pricing norms. The panel will also discuss what items are still unresolved in their models and how they have approached communicating results to senior management and audit committees.

Moderator:
Kevin Levingston, Tax Partner, PwC
Panelists:
Ross Kearney, Corporate Vice President, Tax, United Technologies Corporation
Brian Krause, Partner, Skadden, Arps, Slate, Meagher & Flom LLP
Katie Lodato, Vice President – Global Tax, Eli Lilly and Company

Break

Foreign Government Response: Fight or “Capital” Flight

The enactment of US tax reform dramatically shifted the international tax playing field. In this session, the panel will consider the responses (actual and potential) of foreign governments to US tax reform, including review of FDII by the OECD’s forum on harmful tax practices, potential WTO challenges, consistency with tax treaty provisions, and potential retaliatory taxes. The panel will also discuss the viability of challenges and claims, the timetables for consideration, and potential US responses. Finally, this panel will consider tax trends in the EU, including the future of digital services tax in Europe and globally, as well as the implications of a digital tax on sectors beyond its high-tech targets. Finally, the group will discuss the prospects for replacement of any interim measure with the CCCTB and implications of a CCTP for taxation of global enterprises.

Moderator:
Grant Aldonas, Principal Managing Director, Split Rock International
Panelists:
Manal Corwin, Principal-in-Charge, Washington National Tax, KPMG
Sandy Radmanesh, Senior Tax Counsel, German Embassy Washington, DC
Tom Roesser, Senior Director, Tax Affairs, Microsoft
Bob Stack, Managing Director, International Tax Group – Washington National Tax, Deloitte Tax LLP

Networking Reception

Continental Breakfast

Arm’s Length Standard: Have the rumors of its death been greatly exaggerated?

While pledging loyalty to the arm’s-length standard, the DPT, BEAT, digital services tax proposals, and recent judicial decisions signal government discomfort with its administrability and operation. This panel will discuss the future of arm’s length standard, what will it take to preserve it, and replacement options.

Moderator:
Dave Noren, Partner, McDermott Will & Emery
Panelists:
Tadd Fowler, Vice President – Global Tax Operations, Procter & Gamble
Itai Grinberg, Professor of Law, Georgetown Law
Mike McDonald, Executive Director, Transfer Pricing Services, National Tax Department, EY
Jeff VanderWolk, Partner, Squire Patton Boggs

Break

Wayfair: The Supreme Court provides a roadmap, where might the world go?

The Supreme Court handed down its Wayfair decision striking down decades-long precedent preventing states from requiring businesses without physical presence in the state to collect taxes on sales to customers in the state. This session will examine both practical issues and the broader implications of the Supreme Court’s recognition of virtual presence as sufficient for permitting states to require sales tax collection, including potential activity of the states, Congress and even foreign governments.

Moderator:
Mary Duffy, Managing Director, Andersen Tax
Panelists:
Susan Haffield, Partner, State and Local Taxes, PwC
Doug Lindholm, President & Executive Director, Council On State Taxation
Eric Oman, Deputy Chief Tax Policy Advisor, Senate Finance Committee
Joel Walters, Director, Department of Revenue, State of Missouri

Money makes the world go around

Globally, governments continue to search for new or additional ways to increase tax revenues. Fiscal challenges present in many countries around the globe have resulted in politicians looking to expanding or new tax bases to bridge the gap. This panel will discuss viable options for increasing government revenue and how politics affect proposals to tax multinational corporations and their extraterritorial actions.

Moderator:
Jon Traub, Managing Principal, Tax Policy Group – Washington National Tax, Deloitte Tax LLP
Panelists:
Beth Bell, Policy Director and Tax Counsel, Senate Committee on Small Business & Entrepreneurship
Congressman Carlos Curbelo
Jon Lieber, Principal, NES Practice, PwC
Maya MacGuineas, President, Committee for a Responsible Federal Budget

Wrap up