Bloomberg Tax Leadership Forum
Loren Ponds will speak at the Bloomberg Tax Leadership Forum on November 29, 2018, in Washington, DC. Ponds will present, as part of a panel, "Is the U.S. Tax Act a Threat to the International Tax Order?"
The passing of the 2017 U.S. Tax Act has created tension on the international stage as the foreign-derived intangible income (FDII) provision and the base erosion and anti-abuse tax provisions (BEAT) are being positioned by the European Union as "harmful tax practice" and potentially discriminating against EU companies. Furthermore, the FDII is being challenged by EU finance ministers as a potentially illegal export subsidy under current WTO rules.
A panel of leading tax experts will discuss the U.S. position that the law does not violate international obligations, the possibility of a World Trade Organization challenge to the law and what outcome taxpayers might expect, including what businesses need to know as they evaluate the risk that FDII may disappear and the ensuing impact on their tax burden on intellectual property income.