Bloomberg BNA

Educational Course Credit — Up to 12 CPE / CLE Credits Available

North American Transfer Pricing Conference

Day One

8:00 – 8:45 am Registration and Breakfast
8:45 – 9:00 am Welcome and Opening Remarks from Bloomberg BNA and Baker & McKenzie
9:00 – 9:30 am

Keynote Address: How China Treats Service Fees
Dr. Liao Tizhong, Director General of International Taxation in the State Administration of Taxation (SAT) of the People’s Republic of China

9:30 – 10:45 am

Update on Base Erosion and Profit Shifting

Moderator: Mary Bennett, Partner, Baker & McKenzie, Washington, DC,

David Ernick, Principal, Washington National Tax Services, PricewaterhouseCoopers, Washington, DC
Caroline Silberztein, Partner, Baker & McKenzie, Paris
Gary Sprague, Partner, Baker & McKenzie, Palo Alto, California
Robert Stack, U.S. Department of the Treasury, Washington, DC

The BEPS Action Plan was released on July 19, 2013, and contains several Actions relating to transfer pricing matters.   The three core transfer pricing Actions focus on intangibles, risks and capital, and other high risk transactions.  These Actions address issues that are also at the core of the Chapter VI revision project.  The BEPS Action Plan includes a very aggressive timetable for completion of all Actions; the core transfer pricing ones have deadlines of September 2014 and September 2015.  This session will discuss the implications of these developments to multinational companies.


10:45 – 11:00 am REFRESHMENTS
11:00 – 12:15 pm

Advance Pricing Agreements:  U.S. and Global Update

Moderator: Salim Rahim, Partner, Baker & McKenzie, Washington, DC

Todd Corbo, Director–Tax Controversies, Mosaic Global Operations, Plymouth, MN
Richard McAlonan, Director, APMA, Internal Revenue Service, Washington, DC
Barbara Mantegani, SE Region Transfer Pricing Practice Leader, Grant Thornton, McLean, VA
Donna McComber, APMA, Internal Revenue Service, Washington, DC
Chris Raybould, Partner, Baker & McKenzie, Toronto

Advance Pricing Agreements continue to be a significant global dispute resolution vehicle through which taxpayers can often resolve transfer pricing issues.  In the U.S., the IRS APMA Program has made significant strides in recent months, finalizing more cases on a timely basis.  Recent guidance has been issued to improve the process, and this session will discuss those changes and the future of the Program in the global landscape.  The session will also address significant non-U.S. APA developments.

12:15 – 1:00 pm Luncheon
1:00 – 1:45 pm

Keynote Address

Samuel Maruca, Transfer Pricing Director, LB&I, Internal Revenue Service, Washington, DC

1:45 – 3:00 pm

Addressing Intangibles:   Has Anything Really Changed?

Moderator: John M. Peterson, Jr., Partner, Baker & McKenzie, Palo Alto, CA

Christopher Bello, Chief of Branch 6, Office of Associate Chief Counsel (International), Internal Revenue Service, Washington, D.C.
Stewart Lipeles, Partner, Baker & McKenzie, Palo Alto, CA
Michael McDonald, Financial Economist, Department of Treasury, Washington, DC
Paul Nolan, Vice President, Tax, McCormick & Company, Inc., Sparks, MD
Robert Schweihs, Managing Director, Willamette Management Associates, Chicago

The OECD's revised discussion draft on intangibles reflects more input from developing countries and is seen as taking a more functional approach to defining the assets and a people function oriented view of who owns them for transfer pricing purposes.  The draft is also heavily influencing the BEPS project action streams relating to treatment of intangibles.  In the meantime, IRS and Treasury are attempting to address definitional issues on the U.S. side with new section 367(d) regulations.  This session will explore how impending changes on both fronts might affect tax planning for the ownership and exploitation of intangibles by multinational companies under both U.S. and OECD rules.

3:00 – 3:15 pm REFRESHMENTS
3:15 – 4:30 pm

The Economics of Pricing Financial Transactions

Moderator: Antonio Russo, Partner, Baker & McKenzie, Amsterdam

Christopher Bello, Branch 6 Chief, Office of Associate Chief Counsel (International), Internal Revenue Service
Matthew Frank, Senior Tax Counsel, Transfer Pricing, GE Company, New York
Irving Plotkin, Managing Director, PricewaterhouseCoopers, Boston
Moiz Shirazi, Director Economist, Baker & McKenzie Consulting LLC, Chicago

Tax administrations continue to deal with characterization and pricing issues for various types of financial transactions, from common intercompany loans and guarantees to more sophisticated issues arising from transfers of risks and the provision of capital.  This session will provide an update on recent developments and proposals in this area, address options for analyzing these transactions, and discuss the views of the IRS in the current environment. 

4:30 – 4:45 pm REFRESHMENTS

4:45 – 6:00 pm

Transfer Pricing Issues in Emerging and Developing Countries

Moderator: Carol Dunahoo, Partner, Baker & McKenzie, Washington, DC

Michael Durst
, Contributing Editor, Bloomberg BNA, Washington, DC
Marcos Vinícius Passarelli Prado, Partner, Trench, Rossi e Watanabe, Sao Paulo, Brazil
Alpana Saksena, Director of Global Transfer Pricing, KPMG, San Francisco
Armando Lara Yaffar, General Director for Treaty Negotiations, Ministry of Finance, Mexico, Chairman of UN Committee of Experts in International Cooperation on Tax Matters, Chairman of OECD WP10 on Exchange of Information and Tax Compliance
Shanwu Yuan, Former SAT Official, International Tax Director, Baker & McKenzie Consulting LLC, New York

Emerging and developing countries are bringing new perspectives to the transfer pricing debate and, given their growing economies, are creating additional challenges for multinational companies.  This session will examine a variety of transfer pricing issues in jurisdictions such as China, Brazil, and India and other similar places where companies are often expanding operations at a rapid pace.

6:00 pm

Networking Reception

Day Two

8:00 am – 8:45 am Breakfast
8:45 – 10:00 am

Hot Topics in US Transfer Pricing Litigation

Moderator: Thomas Linguanti, Partner, Baker & McKenzie, Chicago

Philip J. Albert, Vice President of Corporate Tax, Medtronic, Inc., St. Paul, MN
George Clarke, Partner, Baker & McKenzie, Washington, DC
Charles P. Hurley, Partner, Mayer Brown, Washington, DC

Transfer pricing litigation continues to increase in the United States.  This opening session will describe the issues in pending docketed tax cases involving Amazon, Altera, BMC, Medtronic, and Tyco. Some of these cases contain new IRS arguments while, in others, the IRS appears to be hoping for a better result under more recent regulations.

10:00 – 10:15 am REFRESHMENTS
10:15 – 11:15 am

View from the Hill:   The U.S. Legislative Agenda

Moderator: Joshua Odintz, Partner, Baker & McKenzie, Washington, DC

George Callas, Staff Director, Subcommittee on Select Revenue Measures, Committee on Ways and Means, Washington, DC
Aaron Lorenzo, Senior Congressional Reporter, Bloomberg BNA Daily Tax Report, Washington, D.C.
Todd Metcalf, Chief Tax Counsel (Majority) – Senate Committee on Finance, Washington, DC
Robert Stack, Deputy Assistant Secretary, International Tax Affairs, Office of Tax Policy, U.S. Department of the Treasury, Washington, DC

Both former Senate Committee on Finance Chairman Max Baucus and House Committee on Ways and Means Chairman David Camp have released draft legislation that would fundamentally change how the U.S. taxes foreign income, including new methods to reduce base erosion and profit shifting.  At the same time, the G20 and OECD BEPS project could begin producing proposals that will affect the U.S. legislative debate.  This panel will examine these and other initiatives, as well as their chances of gaining traction given recent events such as the greater scrutiny of multinational companies' tax practices.

11:15 – 12:15 pm

The Future of Transfer Pricing Documentation

Moderator: Russell Young, Partner, Baker & McKenzie, Chicago

Peter Barnes, International Tax Counsel, Caplin & Drysdale, Washington, DC
Stephen R. Blough, Principal, Economic & Valuation Services, KPMG, Washington, DC
Holly Glenn, Principal Economist, Baker & McKenzie Consulting LLC, Washington, DC
Jim Huber, Senior Director, Transfer Pricing, Tyco Integrated Security, New York
Karen Milhoua, Director of Transfer Pricing, IBM, New York

On July 30, 2013, the OECD released the White Paper on Transfer Pricing Documentation.  The White Paper addresses Action 13 in the BEPS Action Plan which provides that the OECD will develop rules regarding transfer pricing documentation to enhance transparency for tax administration, taking into consideration the compliance costs for business. The rules to be developed will include a requirement that multinational companies provide all relevant governments with needed information on their global allocation of the income, economic activity and taxes paid among countries, according to a common template.  Following this, in January 2014 a Discussion Draft was issued, along with a draft Country by Country reporting template.  This session will examine the OECD's proposals, including the practical implications of the proposed disclosure requirements and the potential compliance burden related to the proposed documentation approach and country-by-country reporting.

12:15 – 1:00 pm


1:00 – 1:45 pm

Keynote Address

Michael Danilack, Deputy Commissioner (International), Internal Revenue Service, Washington, DC

1:45 – 3:00 pm

So, What Are Companies to Do? Managing Global Audit and Reputational Risk

Moderator: Melinda Phelan, Baker & McKenzie Houston, Moderator

Chris Czarka, Director of Tax & Trade, Nissan of North America, Inc.
James M. Lucas, Sr. Vice President Tax and Treasury, Fluor
Leonard B. Terr, Baker & McKenzie, Washington, DC
Chris Wolter, Director of Tax, The Boeing Company, Chicago, IL

To close the conference, this session will attempt to pull together common threads and issues and discuss what companies are doing as a practical matter to manage their global audit and reputational risk at a time of great uncertainty.  Companies now face increased transparency with global taxing authorities and resulting audit risk that must be managed and addressed.   In this session, advisors and industry representatives will share tips for addressing increased risk on all fronts.

3:00 pm Close of Conference