The U.S. International Tax Committee works on educational and advocacy efforts regarding the U.S. taxation of international business operations.
TEI Submits Comments to the Treasury and IRS regarding Proposed BEAT Regulations
TEI Comments on Proposed Foreign Tax Credit Regulations
TEI Submits Comments to the Treasury and IRS regarding Proposed GILTI Regulations
TEI Submits Comments to the Treasury and IRS regarding Proposed Regulations under Section 965
TEI Submits Comments to the IRS in Response to Notice 2017-36 on the Final Documentation Regulations Under Section 385
TEI Submits Comments to the IRS in Response to Notice 2017-38 on the Final and Temporary Section 385 Regulations
TEI Comments on Section 987 Regulations
On March 7, 2017, TEI filed comments with the IRS regarding final, proposed, and temporary regulations addressing the recognition foreign currency gain of qualified business units under section 987. The Institute’s comments focused on the administrative and compliance complexity of the regulations, the costs taxpayers must incur to comply with the rules, the potential elimination of the recognition of economic losses, and the lack of adjustments available to taxpayers under section 481 upon adoption of the method required by the regulations for calculating foreign currency gain or loss, am
TEI Participates in IRS Country-by-Country Association Roundtable
On January 12, 2017, TEI Executive Director Eli Dicker and Tax Counsel Benjamin Shreck participated in a roundtable discussion of the IRS’s administration of country-by-country (CbC) reporting. The discussion focused on the CbC forms, instructions and guidance, external communication and outreach, compliance and enforcement issues, as well as international exchange and use of CbC information.
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 Appointed as Member to the European Commission’s VAT Expert Group
On September 30, 2016, the European Commission reappointed TEI as a member of the VAT Expert Group for a three-year term. The VAT Expert Group was established in 2012 for the purpose of “advis[ing] the Commission on the preparation of legislative acts and other policy initiatives in the field of VAT” and “provid[ing] insight concerning the practical implementation of legislative acts and other EU policy initiatives in the field of VAT.” The VAT Expert Group’s next meeting will take place on October 17, 2016 in Brussels.