Tax Policy in Transition: Diverging Views in a Converging World

Continental Breakfast

Opening Keynote Address

• Chairman Kevin Brady, Committee on Ways and Means, U.S. House of Representatives

Welcome Remarks and Recognition of Symposium Mission

• Tim Raymond, Chairman, TCPI Board of Directors; Assistant General Tax Counsel, Exxon Mobil Corporation
• Lynda Walker, Executive Director & General Counsel, Tax Council Policy Institute
• Eric Solomon, Co-Director, National Tax, EY

Unlocking the Future of Tax Policy: How the Global Economy is Shaping the Agenda

Gone are the days when one country’s tax policy decisions could be made or viewed in isolation, without an understanding of other countries’ policies and the broader economic environment. This panel of economists and tax practitioners will explore the economic forces driving tax policymakers around the globe as they try to balance a need for revenue against the desire to remain competitive. They will also explore how the US election impacts the outlook for tax reform, trade and the United States’ role in shaping global tax policy.

• Paul Nolan, Vice President, Tax & Government Affairs, McCormick & Company, Inc. (moderator)
• Douglas Holtz-Eakin, President, American Action Forum
• Saul Rosen, Managing Director & Senior Tax Counsel, Citigroup
• Richard Rubin, US Tax Policy Reporter, The Wall Street Journal

Break

A View from the C-Suite: How Businesses are Dealing with the Changing Global Economy

Changes in the global economy are driving changes in the tax environment, challenging executives in the C-suite to confront a tremendous amount of uncertainty. A panel of corporate executives will discuss the biggest global changes that are affecting businesses, assess the importance of changes in tax laws and tax administration, and try to gauge how closely business executives are following: 1) tax reform; 2) OECD initiatives; and 3) tax law changes around the world. They will also discuss how business executives communicate with shareholders, the public, the media, and politicians.

• Pam Olson, US Deputy Tax Leader and Washington National Tax Services (WNTS) Practice Leader (moderator)
• Emanuel Chirico, Chairman and Chief Executive Officer, PVH
• Mark Weinberger, Global Chairman & CEO, EY

Pillar of Excellence Award Presentation

2017 Recipient: Pamela F. Olson, U.S. Deputy Tax Leader and Washington National Tax Services (WNTS) Practice Leader, PwC

How to Safely Navigate your Tax Affairs and Tax Risk in a Sea of Distrust and Misperceptions about Businesses

From churches to Congress, public confidence in institutions is at an all-time low. Just 6% of Americans have a “great deal” of confidence in big business, a distrust fueled in part by concerns about it pays a “fair share” of tax. This panel examines strategies for correcting public misperceptions and how to communicate more effectively to the media and other stakeholders about corporate contributions to economies large and small.

• David Lewis, Vice President, Global Taxes; Chief Tax Executive & Assistant Treasurer, Eli Lilly and Company (moderator)
• Karlyn Bowman, Senior Fellow, American Enterprise Institute
• Joseph Householder, Executive Vice President, Corporate and Crisis, Hill+Knowlton Strategies
• Andrew Phillips, Principal, Quantitative Economics and Statistics, EY
• Russell Sullivan, Partner, McGuireWoods

Luncheon

Following the Money: Multinational Taxation in a Post-BEPS World

One focus of the OECD’s Base Erosion and Profit Shifting (BEPS) project is on where multinational enterprises (MNEs) derive their income and where they take deductions, with a goal of reducing so-called stateless income. Jurisdictions are taking a closer look at MNEs’ tax transactions and agreements - including those entered into with tax administrations. This increased scrutiny is leading to an uptick in tax controversy, making it challenging for MNEs to find certainty. This panel will explore some of the changes in law and administrative practice in various countries post-BEPS and consider some practical considerations for tax directors trying to navigate the new landscape.

• Manal Corwin, Principal and National Leader, International Tax, KPMG LLP (moderator)
• Jesse Eggert, Principal, Washington National Tax, KPMG LLP
• David Noren, Partner, McDermott Will & Emery
• Douglas O’Donnell, Commissioner, Large Business & International (LB&I) Division, Internal Revenue Service
• Timothy Power, Deputy Director, Corporate Tax, HM Treasury

Break

Tax Administration: Managing Controversy in the United States and Around the World

In today’s environment of increased transparency and governments’ increasing need for revenue, the panel will focus on a practical discussion of how companies mitigate controversy risk across the globe. including a discussion controversy trends in the United States and around the world.

• Heather Maloy, Director of Tax Controversy, EY (moderator)
• Alex Jupp, Partner, Skadden, Arps, Slate, Meagher & Flom LLP
• Sally Stiles, Chief Tax Officer, Caterpillar Inc.
• Patricia Sweeney, Member, Miller & Chevalier Chartered
• Joseph V. Zmudzinski, Executive Director, Tax Audits & Research, United Technologies Corporation

Tax Executives Forum: Remaking the Tax Function in a Changing World

This panel will explore the role of the tax department in an evolving political and economic environment. The panelists will discuss their goals and priorities, as well as their vision of the future tax function. The panelists will describe their challenges and how they are addressing these challenges in an era of increasing responsibilities and constant uncertainty. The panel will provide insights about the potential impact of tax reform, developments in Europe and other foreign jurisdictions, reputational matters, internal and external communications, technology, and human resource issues.

• Eric Solomon, Co-Director, National Tax, EY (moderator)
• Douglas Cronin, Vice President, Corporate Tax, Boston Scientific
• Josef Hajek, Senior Vice President, Tax & Government Affairs, Tupperware Brands Corporation
• Melissa Hall, Senior Vice President – Tax, Assurant
• Lisa Wadlin, Senior Vice President and Chief Tax Officer, Walmart

Networking Reception

Continental Breakfast

Opening Remarks

• Stan Collender, Executive Vice President, Qorvis MSLGROUP

Mr. Collender is a nationally recognized leading expert on federal budget issues and frequent contributor to national media outlets, including Forbes.

Reshaping Tax Incentives: The Impact on Investment Decisions

The election results have dramatically changed the contours of the debate around tax incentives. This session will focus on how the House Republican Blueprint for Tax Reform would reshape tax incentives and their potential impacts. In a move toward a consumption-based tax system, the Blueprint would allow expensing of new capital investment, but would disallow net interest expense. The Blueprint would also eliminate all special business tax incentives except for the research credit and the LIFO inventory method. If enacted, these proposals would dramatically change the tax position of most large corporations and the incentives underlying the decision for how much to invest and where to locate investment. The panel will explore how these Blueprint proposals would impact corporate taxpayers in various industries and how policymakers on both sides of the aisle view these issues.

• Mary Duffy, Managing Director, Andersen Tax (moderator)
• John Harrington, Partner, Dentons
• Aruna Kalyanam, Democratic Tax Counsel and Staff Director, Subcommittee on Tax Policy, Committee on Ways and Means
• Thomas Neubig, Former Deputy Head, Tax Policy and Statistics Division, OECD; Founding Member, Tax Sage Network
• Christopher Wolter, Vice President of Tax, The Boeing Company

Break

Rethinking the Base: Innovative Ideas to Transform Taxation

After the election the focus has shifted to the House Republican Blueprint for Tax Reform, as well as possible funding for President-elect Trump’s plans for infrastructure spending. This panel will discuss the linkage between valued-added taxes and the House Blueprint and focus on the major elements of the House Blueprint that would provide for additional revenue (e.g., corporate base broadening, disallowance of net interest expenses, border adjustments). The panel will also focus on the funding sources for existing infrastructure-related trust funds (e.g., Highway Trust Fund, Aviation Trust Fund, Waterways Trust Fund).

• Jonathan Traub, Managing Principal, Tax Policy, Deloitte Tax LLP (moderator)
• Robert Carroll, National Director, Quantitative Economics and Statistics Group, EY
• Jeff Davis, Senior Fellow, Eno Center for Transportation
• Hank Gutman, Of Counsel, Ivins, Phillips & Barker

What's the Best Way to Tax Business Income

Broad-based recognition that the US system of business income taxation is uncompetitive has driven several years of intense discussions searching for possible tax reform solutions. Following the recent US elections, it now appears that tax reform finally will move toward becoming a reality. However, political and policy differences will need to be bridged - and trade-offs will need to be made - to reform how we tax business income. This panel of chief tax officers - representing a spectrum of industries - and government tax policy staff will discuss the way forward to a business tax system encourages balanced economic growth.

• Ray Beeman, Principal, Washington Council Ernst & Young (moderator)
• Kevin Conway, Senior Vice President, Tax, AmerisourceBergen Corporation
• Ron Lang, Assistant Tax Officer, Ford Motor Company
• Mark Prater, Chief Tax Counsel – Republican, Senate Finance Committee
• Louise Weingrod, Vice President, Global Taxation, Johnson & Johnson

Closing Remarks

• Eric Solomon, Co-Director, National Tax, EY
• Lynda Walker, Executive Director & General Counsel, Tax Council Policy Institute