Taxation Archives

With U.S. Tax Reform Looming, Global Tax Experts to Meet in Washington

Published on May 10, 2011

OECD_2011

Washington, D.C., May 10, 2011 – With tax reform high on the agenda in Washington, what are the implications for multinational companies?  To help executives and policy makers keep up in this fast-moving area, the United States Council for International Business (USCIB), which represents American business on the global stage, will convene its fifth annual tax conference next month in Washington, D.C., focusing on the work of the 34-nation Organization for Economic Cooperation and Development (OECD).

This 2011 OECD International Tax Conference, June 6-7 at the Four Seasons Hotel, will provide a unique opportunity for the U.S. business community to interact with key representatives from the OECD Center for Tax Policy and Administration, as well as senior tax officials from the U.S. and other OECD countries.

“As the volume, speed and complexity of international business continues to grow, global firms need clear, consistent and stable tax rules more than ever,” said Bill Sample, corporate vice president for worldwide taxation with Microsoft Corp. and chair of USCIB’s Taxation Committee.  “The OECD is the recognized leader in promoting a tax system to facilitate multinational business and dispute resolution. Business participation is critical to the OECD’s success, so we are encouraging companies from all industries to join us at the conference.”

Key questions to be addressed at the conference include: What are the latest international developments affecting permanent establishments?  What about transfer pricing and intangibles?  How are countries working together to improve tax compliance and cooperation?  With its membership growing, how is the OECD working with new members and non-members on tax policy matters?

Speakers at the event are scheduled to include

  • Jeffrey Owens, head of the OECD’s Center for Tax Policy and Administration
  • Thomas Barthold, chief of staff of the Joint Congressional Committee on Taxation
  • Manal Corwin, deputy assistant secretary of the Treasury for international affairs
  • Masatsugu Asakawa of the Japanese finance ministry, incoming chair of the OECD Committee on Fiscal Affairs
  • Mary Bennett, head of OECD’s tax treaty, transfer pricing, and financial transactions division
  • Steven Miller, deputy commissioner of the IRS for services and enforcement
  • Michelle Levac of Canada’s revenue agency, chair of the OECD Working Party Taxation of Multinational Enterprises.

“Informed, ongoing dialogue with the OECD secretariat and with OECD member states is crucial for global companies,” according to Carol Doran Klein, USCIB’s vice president and international tax counsel.  “The fact that this year’s conference takes place against the backdrop of potentially far-reaching tax reform in the United States only adds to its importance.”

Details on the conference are available at www.uscibtax.org.

The conference is co-organized by USCIB, the OECD and the Business and Industry Advisory Committee (BIAC) to the OECD, which officially represents the view of industry in the Paris-based body.  Supporting organizations include the International Fiscal Association – USA Branch, the International Tax Policy Forum, the National Foreign Trade Council, the Organization for International Investment, the Tax Council Policy Institute, the Tax Executives Institute and the Tax Foundation.

USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and prudent regulation.  Its members include top U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world.  With a unique global network encompassing leading international business organizations, including BIAC, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment.  More information is available at www.uscib.org.

Contact:
Jonathan Huneke, VP communications, USCIB
(212) 703-5043 or jhuneke@uscib.org.

Conference agenda, registration form and other information

More on USCIB’s Taxation Committee

OECD website

New Tax Practice Head at Top Global Trade Group

Published on December 10, 2010
Carol Doran Klein
Carol Doran Klein

New York, N.Y., December 10, 2010 – Carol Doran Klein, an experienced international tax professional, has joined the United States Council for International Business (USCIB), which represents America’s top global companies, as vice president and international tax counsel.  In her new role, Ms. Klein will work to advance the views of American business on key tax policies and initiatives affecting companies’ worldwide operations, working out of USCIB’s Washington, D.C. office.

“Carol Doran Klein has a valuable skill set that will add tremendously to our work on global taxation,” said Ronnie Goldberg, USCIB’s executive vice president and chief policy officer.  “She brings more than two decades’ experience in international tax policy, and can draw on extensive experience in both the private and public sectors.”

Ms. Klein has served with Deloitte and Arthur Andersen, advising clients on international tax planning.  As deputy international tax counsel with the U.S. Department of the Treasury, she coordinated Treasury’s effort on international tax legislation, participated in development of the U.S. Model Income Tax Treaty, and managed the published guidance process.  Ms. Klein has also worked at the Internal Revenue Service, where she wrote and reviewed regulations, and provided litigation support.  With a JD degree with honors from Albany Law School and a bachelor’s degree in English from the State University of New York at Albany, she has served as an adjunct professor of international tax at Georgetown University.

Ms. Klein will manage USCIB’s Committee on Taxation, which promotes sound, appropriate and consistent international tax policy in the U.S. and overseas, including minimizing double taxation.  The committee is chaired by Bill Sample, corporate vice president of worldwide tax at Microsoft Corporation, and encompasses leading tax professionals from USCIB member companies and organizations.  It is especially active on OECD matters, in view of USCIB’s role as the American affiliate of the Business and Industry Advisory Committee to the OECD, and it organizes a yearly conference bringing together top tax officials from the OECD and member governments.

USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and prudent regulation.  Its members include top U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world.  With a unique global network encompassing the International Chamber of Commerce, the International Organization of Employers and the Business and Industry Advisory Committee to the OECD, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment. More at www.uscib.org

Contact:

Jonathan Huneke, USCIB
(212) 703-5043 or jhuneke@uscib.org

More on USCIB’s Taxation Committee

OECD Tax Conference Surveys Rapidly Changing Landscape

Published on June 10, 2010
L-R: The OECD’s Jeffrey Owens, USCIB President Peter Robinson, IRS Commissioner Douglas Shulman, Michael Reilly of Johnson & Johnson, USCIB’s Lynda Walker and Microsoft’s Bill Sample.
L-R: The OECD’s Jeffrey Owens, USCIB President Peter Robinson, IRS Commissioner Douglas Shulman, Michael Reilly of Johnson & Johnson, USCIB’s Lynda Walker and Microsoft’s Bill Sample.

As a new decade gets under way, the tax world is being reshaped by a series of major trends and developments.  Fallout from the financial crisis, the emergence of new economies as global players, a focus on transparency and effective tax administration, and increasingly close international cooperation are just some of the currents affecting tax systems and taxpayers alike.

Against this backdrop, USCIB, the OECD and BIAC convened their latest annual tax conference in Washington, D.C., June 7 and 8.  The event brought together top officials from the U.S. and other governments, OECD representatives, corporate executives and other experts to discuss how the Paris-based OECD, which groups the world’s major market democracies, influences tax policies worldwide, and how business can work with it.

The challenges facing tax professionals in both the public and private sectors are many and varied.  According to Bill Sample, corporate vice president for worldwide tax with Microsoft, and chair of USCIB’s Taxation Committee, the dispersal of key corporate functions across borders increases the number of international transactions just in the course of ordinary operations.  “With the rise of the service economy, and the prevalence of intangible goods like software, it can be a real challenge for policy makers to keep up,” he said.

Add to the mix the OECD’s recent enlargement and engagement with non-OECD economies, and the picture becomes even more multifaceted.  “The myth of the OECD as an insular ‘rich man’s club’ is being shattered as a new wave of members lines up to join, and as we deepen our engagement with other major new economies,” said Jeffrey Owens, director of the OECDs Center for Tax Policy and Administration.

The conference, which drew an audience of over 300, featured an array of thought-provoking panel discussions.

IRS Commissioner Douglas Shulman, who chairs the OECD’s Forum on Tax Administration (FTA), said the already close cooperation between tax authorities in manor economies would increasingly give way to cross-border coordination on key issues.

“As chair of the FTA, I am working with my international counterparts to build greater cooperation between tax authorities across the world,” Mr. Shulman stated.  He said FTA members could “speak with a unified voice on such critical maters as offshore compliance, corporate governance and high net-worth individuals.”

Mr. Shulman said a priority area for such international coordination is joint audits, where the United States and other jurisdictions would collaborate closely to avoid duplication of effort and agree on basic facts in a company audit and the appropriate treatment.  He predicted such audits would be less intrusive and burdensome for taxpayers, and he said the FTA would draft a how-to guide to ensure best practices and uniformity across borders.

Conference panels tackled a number of issues that can bedevil even the most astute tax planners at global companies.  Take transfer pricing, the system under which companies and tax authorities account for intra-company sales across borders.  “Transfer pricing disputes involving intangible goods tend to be among the most contentious and high-stakes international tax controversies companies face,” said Lynda Walker, USCIB’s vice president and international tax counsel.

The OECD is about to undertake a review of how its Transfer Pricing Guidelines apply to intangibles.  A panel at the conference looked at whether consensus can be reached on what exactly constitutes an intangible.

Another set of issues revolve around international efforts to curtail climate change.  Tradable permits are likely to be one of the principle instruments used to reduce emissions of greenhouse gases, according to Chris Lenon, global head of tax with Rio Tinto, and chair of BIAC’s Tax Commitee.  “Yet little systematic study has been undertaken of the tax treatment of such permits or of whether the interaction between national tax systems might impede the efficient operation of a cap-and-trade regime,” he said.

Panels at the conference also addressed information exchange between national tax authorities, value-added taxes, the OECD’s Model Tax Convention, secondment of employees and the “arm’s-length” principle, which was set forth by the OECD in 1995 to guide transfer-pricing matters but which is under increasing scrutiny.

All told, some 300 people attended the two-day conference.  Many presentations and other conference materials are available at www.uscibtax.org.  The dates of next year’s conference have been set for June 6-7, 2011.

Staff contact: Lynda Walker

Text of Commissioner Shulman’s remarks (IRS website)

More on USCIB’s Taxation Committee

OECD Center for Tax Policy and Administration website

BIAC website

 

OECD Tax Conference Tackles Crisis’s Impact on Tax Rules

Published on June 2, 2009
Rep. Charles Rangel (D. – N.Y.) addressed the conference.
Rep. Charles Rangel (D. – N.Y.) addressed the conference.

Washington, D.C., June 2, 2009 – Participants at a major conference on global tax policy organized by the United States Council for International Business and the Organization for Economic Cooperation and Development addressed new challenges arising out of the ongoing economic crisis.  Over 200 attendees, including senior corporate executives and government officials, met over two days to review the 30-nation OECD’s evolving role in shaping international tax policy.

“OECD initiatives can help rebuild the post-crisis global economy,” said OECD Secretary General Angel Gurría.  “They are aimed at guaranteeing the level playing field, integrity, transparency, fairness and predictability that are the cornerstones of a healthy international economy in which businesses can compete fairly.”  He said the financial crisis would focus policy makers’ attention on tax rules that may encourage “excessive risk-taking.”

House Ways and Means Committee Chairman Charles Rangel (D. – N.Y.) addressed the gathering, observing that he expects tax reform to be a priority for the current presidential term.  He said reduction of corporate tax rates could be part of reform, but only as part of a balanced package that increases overall fairness.  He invited business to enter into a dialogue with Congress to develop useful proposals.  Congressman Rangel also called for greater international cooperation to target tax evasion.

IRS Commissioner Douglas Shulman, providing the conference’s keynote remarks, said the financial crisis showed global interconnectedness in “stark terms.”  He said President Obama‘s tax proposals aimed to promote fairness and reduce tax avoidance.  “Good laws make it easier to do right and harder to do wrong,” he said.

Panels at the conference addressed a range of international tax topics, including bilateral tax treaties, transfer pricing and permanent establishment, attribution of profits and business restructuring.  Jeffrey Owens, director of the OECD’s Center for Tax Policy Administration, said the loss of tax revenue brought about by the ongoing global recession would put pressure on governments to review rules governing transfer pricing, potentially affecting how companies allocate losses among jurisdictions where they operate.

The conference was co-organized by the Business and Industry Advisory Committee (BIAC) to the OECD, which officially represents the view of industry in the Paris-based body.   It was the fourth such event organized by USCIB, the OECD and BIAC.  “This conference has grown into a bit of a springtime tradition for us,” said USCIB President and CEO Peter M. Robinson.  “It’s clear that the critical nature of the OECD’s tax policy work merits regular high-level gatherings with business.”

Supporting organizations included the International Fiscal Association – USA Branch, International Tax Policy Forum, National Foreign Trade Council, Organization for International Investment, Tax Council Policy Institute, Tax Executives Institute, Inc., and the Tax Foundation.

USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and prudent regulation.  Its members include top U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world.  With a unique global network encompassing leading international business organizations, including BIAC, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment.  More at www.uscib.org.

Contact:
Jonathan Huneke, VP communications, USCIB
(212) 703-5043 or jhuneke@uscib.org.

Conference website

More on USCIB’s Taxation Committee

OECD website

Washington Hosts Global Tax Policy Conference

Published on May 19, 2009

U.S. and international officials to discuss key developments at latest OECD event

OECD Tax 2009Washington, D.C., May 19, 2009 – Against the backdrop of renewed attention in Washington on multinational tax issues, company executives and tax counsel have an opportunity next month to learn about the latest international tax policy developments affecting their businesses.  Top officials with the Organization for Economic Cooperation and Development, which is playing an increasingly important role in international tax deliberations, will take part in a two-day conference organized by the United States Council for International Business (USCIB).

“The OECD’s Evolving Role in Shaping International Tax Policy,” June 1 and 2 at the Ronald Reagan Building and International Trade Center in Washington, D.C., is the latest in a regular series of conferences focusing on the OECD’s key role in global tax matters.  The event provides insight into how the Paris-based OECD, which groups the world’s most advanced industrialized nations, influences tax policies worldwide, and how business can engage with it.

“More and more, executives and tax planners are coming to recognize the scope of the OECD’s work, and the importance of an informed, ongoing dialogue with the OECD secretariat and its member states,” according to Lynda K. Walker, USCIB’s vice president and international tax counsel.  “This year’s event provides high-level access to key OECD representatives and influential U.S. policy makers.”

Speakers at the two-day conference will include OECD Secretary General Angel Gurría, House Ways and Means Committee Chairman Charles Rangel (D. – N.Y.), IRS Commissioner Douglas Shulman and Jeffrey Owens, director of the OECD’s Center for Tax Policy Administration.  Panels will include numerous other U.S. and OECD officials along with representatives of industry and the legal community.  Topics range from transfer pricing and permanent establishment to attribution of profits and business restructuring.  OECD enlargement, dispute resolution and an open-microphone “Ask the OECD” panel will round out the agenda.

The conference is being co-organized by the Business and Industry Advisory Committee (BIAC) to the OECD, which officially represents the view of industry in the 30-nation body.  Supporting organizations include the International Fiscal Association – USA Branch, International Tax Policy Forum, National Foreign Trade Council, Organization for International Investment, Tax Council Policy Institute, Tax Executives Institute, Inc., and the Tax Foundation.

USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and prudent regulation.  Its members include top U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world.  With a unique global network encompassing leading international business organizations, including BIAC, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment.

Contact:
Jonathan Huneke, VP communications, USCIB
(212) 703-5043 or jhuneke@uscib.org.

Conference agenda, registration form and other information

More on USCIB’s Taxation Committee

OECD website

2009 OECD Tax Conference: Program Overview

Published on February 3, 2009

The OECD’s Evolving Role in International Tax Policy


Program Overview

*Speakers to be posted soon*

  • The OECD and Business: Tax Agenda and Process
  • Transfer Pricing Hot Topics: Keeping the OECD 1995 Transfer Pricing Guidelines Current

(a)   Comparability Issues

(b)   Use of Profit Methods

  • Recognizing When a Permanent Establishment Exists: Issues in the Article 5 Definition of Permanent Establishment
  • Addressing the Economic Crisis: The Role of the OECD in Responding to the Crisis
  • Attribution of Profits to Permanent Establishments: Developing a New Article 7 to Implement the OECD Conclusions on Attribution of Profits to PEs
  • Business Restructuring: Transfer Pricing Issues in Business Restructuring
  • Enlargement of the OECD: Challenges and Opportunities
  • Dispute Resolution and the “Enhanced Relationship”: Opportunities for Avoiding and Resolving Disputes
  • Ask the OECD: Your Opportunity to Ask the Questions on Your Mind

2009 OECD Conference Online Registration

Published on February 1, 2009

Organisation for Economic Co-operation and Development (OECD)

Business and Industry Advisory Committee to the OECD (BIAC)

United States Council for International Business (USCIB)

In association with

International Fiscal Association – USA Branch (IFA-USA),
International Tax Policy Forum (ITPF),
National Foreign Trade Council (NFTC),
Organization for International Investment (OFII),
Tax Council Policy Institute (TCPI),

Tax Executives Institute, Inc. (TEI), Tax Foundation

are pleased to announce:

The OECD’s Evolving Role in Shaping International Tax Policy

1 June 2009

1:30 p.m. – 6:00 p.m.:  Meeting

6:00 – 7:30 p.m.:  Cocktail Reception

2 June 2009

8:00 a.m. – 5:00 p.m.

The Ronald Reagan Building and International Trade Center

1300 Pennsylvania Avenue, NW Washington, D.C.

Key Topics:

OECD Enlargement and Enhanced Engagement

Business Restructurings

Permanent Establishment Definitional and Profit Attribution Issues

 Transfer Pricing Guidelines Hot Topics

The Role of the OECD in Responding to the Global Economic Crisis

Improving the Resolution of International Tax Disputes

 

Featured Speakers:

Jeffrey Owens – Head of the Centre for Tax Policy & Administration (CTPA), OECD

Mary Bennett – Head of Tax Treaty, Transfer Pricing and Financial Transactions Division (TTP), OECD

Caroline Silberztein – Head of Transfer Pricing Unit, OECD

Jacques Sasseville – Head of Tax Treaty Unit, OECD

Senior U.S. Treasury and IRS Representatives

Registration Fees

Early Bird Registration (on or before April 3, 2009): $750

Regular Registration: $875

This conference provides a unique opportunity for the U.S. business community to interact with key representatives from the OECD Centre for Tax Policy and Administration and senior tax officials from the U.S. and other OECD countries. Panels will address current OECD tax projects and will include speakers from business, the OECD, and U.S. government.

For more information, please visit www.uscibtax.org;

Or contact Erin Breitenbucher at ebreitenbucher@uscib-dc.org / 202 682 7465.

2009 OECD Tax Conference: Information for Participants

Published on February 1, 2009

The Ronald Reagan Building and International Trade Center

***Please be advised that you will need to provide a photo ID when passing through security upon entering the building***

Hotel Room Block

A limited number of rooms have been blocked at reduced rates at The Madison Hotel (located two metro stops from the Reagan Building).  Please call the hotel directly and mention the USCIB room block: 1-800-424-8577.  For more information on the hotel, please visit www.loewshotels.com.

Hotels in close proximity to the Ronald Reagan Building and International Trade Center:

  • Courtyard by Marriott (5 blocks), 900 F Street, NW, 202-638-4600
  • J.W. Marriott (across the street), 1331 Pennsylvania Avenue, NW, 202-393-2000
  • Willard Intercontinental (one block), 1401 Pennsylvania Avenue, NW, 202-628-9100
  • Marriott Metro Center (4.5 blocks), 775 12th Street, NW, 202-737-2200
  • Sofitel Lafayette Square (5 blocks), 806 15th Street, NW, 202-737-8800
  • Hilton Garden Inn Franklin Square (5 blocks), 815 14th Street, NW, 202-783-7800

Companies Assail Tax Bill Punishing Investment in the U.S.

Published on July 26, 2007

New York, N.Y., July 26, 2007 – America’s top global companies have expressed serious concern over proposed legislation, introduced as a potential means of funding the farm bill currently under Congressional consideration, that would discriminate against foreign companies operating in the United States. The proposal would effectively and unfairly raise taxes on foreign based companies which contribute to the U.S. economy and through American jobs and substantial U.S. based operations. It would also do serious damage to the tax treaty network on which U.S. business relies to prevent double taxation and provide certainty in its pursuit of business outside the U.S. The United States Council for International Business (USCIB), which represents U.S.-based multinationals and major exporters, said the measure could serve as an impetus for retaliation against American firms doing business in abroad.

“This bill, if enacted, would clearly violate an array of U.S. tax treaties, invite retaliation overseas, and damage our economy by discriminatorily raising taxes on foreign investment, hampering foreign investment and job creation in the United States,” said USCIB President Peter M. Robinson.

On the heels of introduction by Rep. Lloyd Doggett (D-TX) of the legislation in question, H.R. 3160, yesterday, the Administration appropriately expressed its strong opposition to the proposal in a statement of opposition delivered to Congress. The bill could come up for a vote in the House of Representatives today, without the benefit of the normal hearing process. Its effect would be to force foreign companies to pay higher withholding tax rates than their U.S.-owned counterparts on such payments as royalties, interest and management fees to their foreign affiliates. This would violate many bilateral U.S. tax treaties, which aim to both reduce double taxation and ensure cooperation with foreign tax authorities.

Mr. Robinson urged members of Congress to avoid measures targeting foreign firms specifically. “Such practices are often seized upon by foreign governments as an excuse to restrict market access and investment opportunities by American companies,” he noted. “We are concerned that formal and informal barriers to investment are on the rise in many countries. It is clearly in the interests of the United States, as the world’s largest source of overseas investment and one of the largest hosts for foreign direct investment to maintain a level playing field for foreign firms, to ensure that our own firms are treated fairly.”

Mr. Robinson noted that U.S. subsidiaries of foreign businesses account for more than five million U.S. jobs, supporting annual payrolls of over $300 billion.

USCIB promotes an open system of global commerce in which business can flourish and contribute to economic growth, human welfare and protection of the environment. Its membership includes more than 300 leading U.S. companies, professional services firms and associations whose combined annual revenues exceed $3.5 trillion. As the exclusive American affiliate of three key global business groups – the International Chamber of Commerce, the International Organization of Employers, and the Business and Industry Advisory Committee to the OECD – USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade. More information is available at www.uscib.org.

Contact:
Jonathan Huneke, VP communications, USCIB
+1 212.703.5043 (office), +1 917.420.0039 (mobile) or jhuneke@uscib.org
More on USCIB’s Taxation Committee

Business Engages Top International Tax Officials at OECD Conference in Washington

Published on June 5, 2007
Assistant Treasury Secretary Eric Solomon spoke at the OECD tax conference.
Assistant Treasury Secretary Eric Solomon spoke at the OECD tax conference.

Washington, DC, June 5, 2007 – Nearly 300 U.S. and international executives, government officials and other tax experts convened at the Ronald Reagan Building and International Trade Center in Washington, D.C., for a major two-day conference, concluding today, which highlighted the work of the Organization for Economic Cooperation and Development (OECD) in the development of national tax policy and international tax arrangements governing cross-border trade and investment.

Organized by the OECD, the United States Council for International Business (USCIB), and the Business and Industry Advisory Committee (BIAC) to the OECD, the conference, titled “New OECD International Tax Initiatives: Looking Ahead,” sought to provide American business with the opportunity to interact directly with key representatives from the OECD and its Center for Tax Policy and Administration.  Also on the program were senior representatives of the U.S. Treasury/Internal Revenue Service and private industry.

The 30-nation OECD seeks to promote growth through coordination of economic and regulatory policies between its members, all of which are democratic market economies.  BIAC, composed of major business federations from all OECD countries, provides policy guidance to OECD members.  USCIB is BIAC’s representative in the United States and regularly fields American industry experts for BIAC and OECD activities.

Constance A. Morella, U.S. ambassador to the OECD, opened the influential annual conference, now in its fourth year.  “Thomas Friedman has said the world is flat, but it’s worth noting that there are still some bumps, including in tax policy,” she commented.  “The OECD tries, with strong business support, to flatten some of those bumps.”

Thelma Askey, deputy secretary general of the OECD, also addressed the gathering.  “The U.S. government plays a leading role at the OECD in getting agreement on international tax rules,” she said.  “Without clear, transparent rules that have the support of governments around the world, business often finds itself tied up in uncertainty, intractable disputes and double taxation.”

In a keynote address today, Eric Solomon, the Treasury Department’s assistant secretary for tax policy, presented an overview of the U.S. tax system and its effects on American competitiveness.  He noted that, since the last major overhaul of the U.S. tax code in 1986, other developed countries had lowered corporate tax rates to spur investment and boost employment.

“As the global economy continues to expand and markets become more open to investment, developed economies such as those within the OECD continue to adapt their corporate tax systems to compete in the global marketplace,” Mr. Solomon stated.  “However, since 1993, the federal statutory corporate tax rate has remained 35 percent.”

Also speaking at the conference were Jeffrey Owens, head of the OECD’s Center for Tax Policy & Administration; Patrick J. Ellingsworth, executive vice president, Royal Dutch Shell and chairman of BIAC’s Taxation Committee; Peter M. Robinson, president of USCIB; and numerous tax experts from the OECD secretariat, U.S. government and major multinational companies.

The event drew representatives from more than a hundred top companies, testifying to the broad importance of the OECD’s work and its influence on international taxation policies.  The full conference agenda is available at www.uscibtax.org.  Among the topics up for discussion were:

  • attribution of profits to permanent establishments
  • the application of the transfer pricing guidelines
  • issues arising from business restructurings
  • cooperation and information exchange in international tax administration
  • other tax treaty topics, such as the non-discrimination principle and collective investment vehicles
  • current OECD work on cross-border services, and the OECD’s dispute resolution report.

“As we move forward on these issues, it is essential that U.S. business provide ongoing input,” said the OECD’s Mr. Owens.  “Conferences like these, and input from USCIB, ensures that the solutions we adopt work for American firms operating in the global marketplace.”

Lynda K. Walker, USCIB’s vice president and international tax counsel, commented that the annual conferences have become a highlight of the U.S. tax calendar.  “By bringing together the main U.S.-based organizations that work on international tax policy, these events enable American business to more effectively follow and provide input to the OECD’s work.”

Supporting sponsors of the event included the International Fiscal Association-USA Branch, the International Tax Policy Forum, the National Foreign Trade Council, the Organization for International Investment, the Tax Council Policy Institute and the Tax Foundation.

USCIB promotes an open system of global commerce in which business can flourish and contribute to economic growth, human welfare and protection of the environment.  Its membership includes more than 300 leading U.S. companies, professional services firms and associations whose combined annual revenues exceed $3.5 trillion.  As the exclusive American affiliate of three key global business groups – the International Chamber of Commerce, the International Organization of Employers, and the Business and Industry Advisory Committee to the OECD –  USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade.  More information is available at www.uscib.org.

Contact:

Jonathan Huneke, VP communications, USCIB

+1 212.703.5043 (office), +1 917.420.0039 (mobile) or jhuneke@uscib.org

Conference agenda

Remarks by Assistant Treasury Secretary Solomon (Treasury Department website)

OECD website

BIAC website

More on USCIB’s Taxation Committee