GILTI Conscience: Casual Discussions on Transfer Pricing, Tax Treaties and Related Topics

Skadden, Arps, Slate, Meagher & Flom LLP

Episode Seven

The Issue Behind 'Almost All' Transfer Pricing Cases: Ex Ante or Ex Post Basis
In episode seven of "GILTI Conscience," hosts Nate Carden and David Farhat talk with Keystone Strategy's Bram Isgur about the issue underlying most major transfer pricing cases: whether to look forward to see what pricing should be for events that have not yet happened or to wait and look back at what has already occurred. As Bram acknowledges, there is no perfect solution: Transfer pricing theories are ex ante, transfer pricing audits are ex post, and OECD guidelines and U.S. transfer pricing rules are a mix of the two.

Episode Six

Navigating the Once-Obscure German Nonresident Withholding Tax
In this episode of Skadden’s “GILTI Conscience” podcast, partners Nate Carden and David Farhat discuss the German nonresident withholding tax with partner Johannes Frey, in the Frankfurt office, and Ryan Lange and Kerim Keser of the consulting firm Kroll. This once-obscure tax rule, which applies to intellectual property licenses registered in Germany, has been confounding multinational companies since the tax authorities began applying the rule in recent years. As Nate explained by way of an example, “If you have a U.S. multinational company that licenses its IP to its operating headquarters in some other country, not Germany ... the idea is that to the extent that the royalties relate to German-registered rights, Germany would assert the ability to withhold even though they’re not on either side of the transaction.”

Episode Five

New Regulation: Statutes, Pillars and the Build Back Better Act
In the new episode of our tax podcast, “GILTI Conscience,” partners Nate Carden and David Farhat speak with Skadden of counsel Paul Oosterhuis and associate Huzefa Mun about tax legislation, including how the potential failure to pass the Build Back Better Act might impact the Treasury Department’s implementation of future guidance, including Pillar One and Pillar Two.

Episode Four

The Tax Legislation Process and What to Expect in 2022
In the new episode of Skadden's "GILTI Conscience" podcast, partners Nate Carden and David Farhat talk with about the "art" of drafting and passing tax legislation with Loren Ponds, a former tax counsel for the House of Representatives' Ways and Means Committee. "Taxpayer feedback is kind of essential to the process," Loren says. "Thinking about policy and how we think the rules should or will operate is very different when faced with taxpayer-specific fact patterns."

Episode Three

Spotlight Series "The Importance of Diversity, Equity & Inclusion in Tax Law"
In the latest episode of Skadden's tax podcast "GILTI Conscience," hosts Nate Carden and David Farhat talk with associates Eman Cuyler and Stefane Victor about Black identity and lawyering, particularly among tax practitioners. As David puts it, in a legal discipline that uniquely benefits from a wide breadth of experiences and perspectives, the need to navigate "whiteness" and "maleness" can be particularly acute.

Episode Two

Arm's Length Principle Vs. Implicit Support: What's the Way Forward?
In episode two of "GILTI Conscience," tax partners Nate Carden and David Farhat talk with economist Bram Isgur of Keystone Strategy about the transfer pricing implications for intercompany loans and guarantees. "The stakes are huge," David says. "A lot of clients have to fund themselves. They have to move money across borders, and how governments look at that and how everyone gets their appropriate piece of the pie can become very complicated."

Episode One

Musings on Multinational Tax: What to Expect From GILTI Conscience
In episode one, "Musings on Multinational Tax: What To Expect From GILTI Conscience," Nate and David speak with associates Eman Cuyler and Stefane Victor about the impact of COVID on taxation, recent notable headlines, why “where” became the wrong question for determining tax implications, the top challenge this year for multinationals, and whether tax reform is exciting or terrifying for practitioners.