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Avoiding Tax Pitfalls of New EU Directive Targeting Cross-Border Tax Planning Mechanisms

Mandatory Disclosures by Intermediaries, Reporting Requirements, Planning Techniques and More

Recording of a 90-minute premium CLE/CPE webinar with Q&A

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Conducted on Thursday, September 13, 2018

Recorded event now available

or call 1-800-926-7926

This CLE/CPE course will guide tax professionals and advisers on recent directives of the European Union (EU) regarding mandatory reporting obligations for intermediaries and taxpayers. The panel will discuss the implications of the EU directive on U.S. companies, required disclosures of tax arrangements, planning techniques, and best practices for tax counsel and advisers.

Description

The EU member states have agreed on a directive establishing new tax reporting obligations for intermediaries and taxpayers. The directive establishes rules for mandatory disclosure of tax planning mechanisms with a cross-border element forcing U.S. companies and taxpayers to exercise caution in their operations or planning that involve any member state of the EU.

This new EU directive reflects elements of the OECD’s Base Erosion and Profit Shifting (BEPS) initiative, requiring intermediaries to make full disclosure of specific tax planning strategies to tax authorities with cross-border elements. An “intermediary” is anyone involved in the design, marketing, organizing, making available for implementation, or managing the implementation of a reportable cross-border arrangement.

This definition is far-reaching and also includes those who are “reasonably expected to know” of such arrangements such as banks, tax consultants or lawyers. Where an intermediary cannot meet the disclosure requirement due to privilege or where there is no intermediary, the taxpayer must disclose such arrangements in accord with the EU directive. Advisers and taxpayers must understand the impact of the EU directive on cross-border tax planning mechanisms and potential reporting requirements.

According to the directive, reportable cross-border arrangements are those that contain at least one of the generic or specific hallmarks such as arrangements involving transfers of certain intangibles, tax-deductible payments to associated businesses in tax havens, as well as arrangements that contain certain confidentiality provisions or entitlements to receive a contingent fee.

Listen as our panel discusses the mandatory disclosure and reporting obligations of the EU directive, the impact on U.S. companies, and offers planning techniques and best practices for taxpayers, tax professionals and advisers.

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Outline

  1. Overview of the EU directive on cross-border tax planning arrangements
  2. Reporting obligations and mandatory disclosures by intermediaries and taxpayers
    1. Determining who are intermediaries
    2. Reportable cross-border arrangements subject to the EU directive
    3. The “main benefit test” giving rise to reporting obligations
  3. The impact of EU directive on U.S.-based companies and taxpayers
  4. Best practices for tax professionals and advisers in ensuring compliance with EU directive

Benefits

The panel will review these and other crucial topics:

  • The disclosure and reporting obligations as required by the EU directive
  • Determining which taxpayers and intermediaries are subject to the directive
  • Identifying reportable cross-border arrangements subject to mandatory disclosure
  • Techniques and planning methods for U.S.-based companies

Faculty

Law, Shee Boon
Shee Boon Law, Ph.D.
Head of Knowledge - International Tax Group
DLA Piper

Mr. Law is currently the Head of Knowledge at DLA Piper's International Tax Group, where he is responsible for...  |  Read More

Snijders, Egon
Egon Snijders
Group Tax Manager
TMF Group

Mr. Snijders is currently Group Tax Manager at TMF Group, a multinational professional services firm headquartered in...  |  Read More

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