Transcript Common Law Doctrines

US Approaches to Tax Avoidance
John G. Rienstra
IBFD North America
[email protected]
Rotterdam, 21 June 2013
IBFD International Tax Academy - www.ibfd.org
Overview
• Common Law Doctrines
• Statutory Measures
• Tax Treaty Measures
• Reporting and Compliance
• Apple Hearing (www.hsgac.senate.gov/
subcommittees/investigations/hearings)
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© 2010 IBFD International Tax Academy
Common Law Doctrines
• Economic Substance Doctrine
• Must be meaningful change in economic position
• Must have substantial non-tax purpose
• Codified effective 30 March 2010 (IRC § 7701(o)).
• Substance Over Form Doctrine
• Step Transaction Doctrine
• Sham Transaction Doctrine
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© 2010 IBFD International Tax Academy
Statutory Measures
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CFC Provisions (Subpart F – IRC § 951)
Repatriation Barriers (IRC § 956)
Foreign Tax Credit Splitter Rules (IRC § 909)
Earnings Stripping (IRC § 163(j))
Check-The-Box Regulations
(Treas. Reg. §§ 301.7701-1 to -3)
© 2010 IBFD International Tax Academy
Tax Treaty Measures
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Limitation on Benefits (LOB) Articles
Payments to Hybrid Entities (IRC § 894(c))
Disclosure of Treaty Positions (IRC § 6114)
Anti-Conduit Regulations (IRC § 7701(l) and
Treas. Reg. § 1.881-3)
© 2010 IBFD International Tax Academy
Reporting and Compliance
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FATCA (IRC §§ 1471-1474)
Disclosure of Uncertain Tax Positions (FIN 48)
Disclosure of Tax Shelters (IRC §§ 6111-6112)
Increased Tax Penalties (IRC § 6662)
Off-Shore Accounts Initiatives (OVDI)
© 2010 IBFD International Tax Academy