Introduction to U.S. Aspects of International Tax & International Tax Planning

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Introduction to U.S. Aspects of International Tax & International Tax Planning

1,195.00 1,395.00

October 23-24, 2017 - DLA Piper LLP, 33 Arch Street, Boston, MA

Earn Up to 15 CPE/CLE Credits

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Networking Seminars will host its basic level seminar on how U.S. taxes foreign income for multinational corporations and how to reduce U.S. taxes while also complying with Internal Revenue Codes.  Our experienced faculty will address planning opportunities for transfer pricing, licensing and intellectual property migration and considerations that could benefit your companies planning strategies.  We will also discuss the proposed international tax reform. Download Brochure

This seminar is intended for corporate controllers, tax managers, accountants, attorneys, and other corporate finance executives looking to develop an understanding of how the U.S. taxes income from foreign operations. No prerequisite is required for this introductory course with group live instruction. This program is transitional which is appropriate for newly admitted attorneys. Field of Study: Taxes     Earn Up to 15 CPE/CLE Credits

Chairpersons: 

Mike Hardgrove, Partner, DLA Piper LLP, Boston
Jay Tata, Partner, KPMG LLP, Boston

Monday, October 23, 2017

8:30 AM - Registration and Continental Breakfast

9:00 AM – Introduction & Overview of U.S. International Taxation

  • Understanding worldwide vs. territorial tax systems
  • Taxation of foreign income of U.S. corporations (Outbound)
  • Taxation of U.S. income of non-U.S. corporations (Inbound)

Jay Tata, Partner, KPMG LLP, Boston

10:15 AM - Refreshment Break

10:30 AM - Foreign Tax Credit

  • Key concepts of the foreign tax credit
  • Taxes available for the credit
  • Foreign tax credit limitation formula
  • Sourcing of income and expense allocation
  • Applying the foreign tax credit limitation formula for passive and general baskets

Mike Lutz, Partner, Ernst & Young LLP, Boston

12:30 PM – Networking Luncheon

1:30 PM - Controlled Foreign Corporations (CFCs), Passive Foreign Investment Companies (PFICs) and Subpart F Income

  • Application of Subpart F
  • Related Parties
  • Foreign Base Company Income:
    •  Foreign Personal Holding Company Income
    •  Foreign Base Company Sales Income
    •  Foreign Base Company Services Income
    • Foreign Base Company Oil Related Income
  • Boycott & Other Income
  • Earnings Invested in U.S. Property (“956”)
  • Deemed Inclusion Computation
  • Passive Foreign Investment Companies (PFICs)

Christopher Kelley, Partner, Ernst & Young LLP, Boston

3:30 PM – Refreshment Break

3:45 PM -Earnings and Profits

  • Earnings and profits (“E&P”) generally
  • Common E&P adjustments
  • The steps in preparing an E&P study
  • Preparing a computation of E&P pre-1987
  • Preparing a computation of E&P post-1986
  • Practical issues in calculating E&P
  • The importance of E&P in international tax

Joshua A. Leclair, Senior Manager, KPMG LLP, Boston

5:00 PM - Seminar adjourns for the day

    Tuesday, October 24, 2017

    8:00 AM - Continental Breakfast

    8:45 AM - Transfer Pricing

    • Historical development and key considerations
      • Arm’s Length Standard
      • Comparables
      • Documentation
      • Transactional framework
    • Licensing
      • Services
      • Product Sales
      • Loans
      • IP and Residual Profit
    • Examples

    Kevin Burke, Partner, Ernst & Young LLP, Boston

      10:45 AM - Refreshment Break

      11:00 AM -  U.S. IP Migration Matters

      • General Considerations
      • IP Migration:
      • License of Foreign IP
      • Sales of IP Rights
      • Contribution of IP
      • IP Partnership
      • Taxable Acquisitions
      • Cost Sharing
      • Financial v. Tax Valuations
      • Intermediary and IP company structures
      • Post Migration Considerations
      • BEPS considerations

      Mike Hardgrove, Partner, DLA Piper LLP, Boston

      12:30 PM - Luncheon

      1:30 PM – Income Tax Treaties

      • Doing Business Abroad
      • Purposes of Income Tax Treaties
      • Essential Elements of Tax Treaties
      • Interpreting a Treaty Provision
      • Qualifying for Treaty Benefits
      • Taxes on Source Income
      • Permanent Establishments and Business Profits

      2:30 PM - Refreshment Break

      2:45 PM - Cross-Border Mergers & Acquisitions

      • Section 367(a) – Outbound Transactions
        • General Rule, Exceptions, and GRAs
        • Indirect Stock Transfers
        • Section 367(a)(5)
        • Outbound Transfers of Intangibles – Section 367(d)
        • Inversion Transactions – Section 7874
      • Section 304 Transactions v. Cash D Reorganizations
      • Section 367(b):
        • Inbound Transactions
        • Foreign-to-Foreign Transactions
      • Section 367(e)(2) Liquidations

      Jay Tata, Partner, KPMG LLP, Boston

      4:15 PM Seminar Concludes

      Conference Location

      DLA Piper LLP, 33 Arch Street, 26th Floor, Boston, MA

      Hotel accommodations:

      Club Quarters Hotel in Boston, 161 Devonshire St, Boston, MA 02110.  Phone: (617) 357-6400

      The Langham, Boston 250 Franklin St, Boston, MA 02110. Phone: (617) 451-1900