BEPS

TEI Submits Comments to the Treasury and IRS regarding Proposed Regulations under Section 965

On October 9th, TEI submitted comments to the Treasury and IRS regarding proposed regulations promulgated under the transition tax imposed by section 965, as amended by the Tax Cuts & Jobs Act enacted in 2017.

TEI Submits Comments to the OECD regarding the Transfer Pricing aspects of Financial Transactions

On September 6th, TEI submitted comments to the OECD regarding its public discussion draft under BEPS Actions 8-10 on the transfer pricing aspects of financial transactions.

TEI Comments on European Commission Digital Economy Survey

On January 2, TEI submitted responses to the European Commission’s survey regarding “fair taxation of the digital economy,” disagreeing with the Commission’s proposed alternatives to taxing digital commerce.

TEI Comments on OECD Request Regarding the Digitalization of the Economy

On October 12, TEI submitted comments to the OECD regarding their request for input on the tax challenges of the digitalization of the economy, including an interim report to be submitted to the G20 finance ministers.

TEI Comments on OECD Discussion Draft Regarding Revised Profit Split Guidance

On September 8, TEI filed comments with the OECD regarding its public discussion draft on revised guidance on the use of profit splits.

TEI Participates in OECD BEPS Public Consultations

On October 11-12, 2016, TEI Tax Counsel Ben Shreck participated in the OECD’s Public Consultations regarding revised OECD guidance on the use of the profit split method for transfer pricing purposes and the attribution of profits to permanent establishments under the OECD’s BEPS Project. TEI’s planned intervention at the Consultation addressed profit split factors. It is expected that the OECD will issue final guidance on these two topics by the end of 2016.

TEI Comments on BEPS Multilateral Instrument

On June 29, 2016, TEI filed a comment letter with the OECD regarding its request for input on Development of a Multilateral Instrument to Implement the Tax Treaty related BEPS Measures under Action 15 of the OECD’s base erosion and profit shifting (BEPS) project.

TEI Comments on Proposed Country-by-Country Reporting Regulations

On March 21, 2016, TEI submitted comments to the IRS regarding proposed regulations (REG-109822-15) that would require certain U.S. headquartered multinational enterprises to report financial and tax information to the IRS on a country-by-country basis. The Institute's comments focused on the need for the final regulations to be consistent with the final report on Action 13 of the OECD's base erosion and profit shifting (BEPS) project to minimize the administrative burden on businesses and permit flexibility in information reporting.

TEI Comments on BEPS Hard-to-Value Intangibles Discussion Draft

On June 17, 2015, TEI submitted comments on the OECD revised discussion draft on BEPS Action 8: Hard-to-Value Intangibles. The Institute's comments focused on the need to limit the use of ex post information (hindsight) by tax authorities to price previous transfers of intangible assets as such information is not used in similar transactions between unrelated parties. The Institute noted, among other things, that use of hindsight would likely result in additional controversy and disputes between taxpayers and tax authorities.

TEI Comments on Revised OECD Treaty Abuse Discussion Draft

On June 16, 2015, TEI submitted comments on the OECD revised discussion draft on BEPS Action 6: Prevent Treaty Abuse. The Institute's comments focused on the need for certainty in the determination of when taxpayers will qualify for treaty benefits so businesses can plan their cross-border operations. TEI also noted, among other things, that the proposed changes to the OECD model tax convention will create taxation where none has previously existed, in contravention of the traditional purpose of tax treaties to eliminate double taxation and prevent tax evasion.

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