GILTI Conscience

Dive into the complexities of international tax reform as Skadden’s David Farhat, Patrick O'Gara, Loren Ponds and Stefane Victor, along with Pascal Saint-Amans — former director of the OECD’s Centre for Tax Policy and Administration — unpack the latest developments in Pillar Two and the Side-by-Side framework. This episode explores how new safe harbors, QDMTTs and evolving global agreements are reshaping the landscape for U.S. and multinational corporations and the practical challenges ahead. Whether you’re a tax professional or just curious about global policy shifts, this discussion offers a front-row seat to the debates shaping tomorrow’s tax world.💡 Featured Guests 💡Name: Pascal Saint-AmansWhat he does: Pascal served as director of the Centre for Tax Policy and Administration at the OECD, where he played an instrumental role in promoting transparency. He is CEO of Saint-Amans Global Advisory, which supports governments, international organizations and business on economic and fiscal issues.Organization: Saint-Amans Global Advisory (SAGA)Words of wisdom: “What really matters in the long game – if you're in the long game – is trying to reduce the tax competition, keeping the infrastructure and surviving maybe for a few more months until November where there may be an election in the. U.S, or later on, where you may have changes and people are more sympathetic to the approach.”Connect: LinkedInConnect with Skadden☑️ Follow us on X and LinkedIn.☑️ Subscribe to GILTI Conscience on Apple Podcasts, Spotify or your favorite podcast app.☑️ Let us know what topics you would like to hear about on GILTI Conscience by emailing our executive producer at eman.cuyler@skadden.com.GILTI Conscience is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates. Skadden’s tax team is recognized globally for providing clients with creative and innovative solutions to their most pressing transactional, planning, and controversy challenges. The insights and views presented in GILTI Conscience are for general information purposes only and should not be taken as legal advice for any individual case or situation. The information presented is not a substitute for consulting with an attorney, nor does tuning into this podcast constitute an attorney-client relationship of any kind.

This podcast’s title hasn’t changed, but on the international tax stage GILTI is converting to the new CFC-tested income (NCTI) regime.That’s just one shift brought about by the One Big Beautiful Bill that Congress passed on July 4. Skadden colleagues Loren Ponds, Eric Sensenbrenner and Paul Oosterhuis break down the bill’s implications in this conversation with David Farhat and Stefane Victor. The panel explores the legislative process, the impact of dropped provisions such as Section 899 and key planning considerations. Tune in for their insights about how corporate stakeholders can navigate the new landscape.💡 Featured Guests 💡Name: Eric SensenbrennerWhat he does:  Eric represents clients on a broad range of U.S. and international tax matters, with a particular emphasis on transactional tax planning in the international context.Organization: SkaddenWords of wisdom: “FDII is now becoming a much more interesting and much more robust tool for attracting investment, both for multinationals thinking about bringing assets back as well as perhaps for inbound investment as well.”Connect: LinkedInName: Loren PondsWhat she does:  Loren leverages her extensive tax policy experience to provide strategic counsel to clients across industries on a variety of legislative and regulatory issues.Organization: SkaddenWords of wisdom:  “I can speak from experience working on the Hill: When you think you're gifting taxpayers something in a provision, and all you get is pushback, it becomes very easy for that provision to disappear from the final bill, particularly when we're talking about the cost, in addition to the poor reception.”Connect: LinkedIn Name: Paul OosterhuisWhat he does: Paul is an internationally recognized senior tax practitioner with extensive experience in cross-border mergers and acquisitions, post-acquisition integration, spin-offs, internal restructurings and joint ventures.Organization: SkaddenWords of wisdom: “From my perspective, maybe the Trump administration should be talking to those countries about being more lenient in allowing U.S. companies to bring back their IP. Maybe they could get breaks on their tariffs, for example, if they decided to suspend their rules on U.S. companies bringing back their IP.”Connect: LinkedIn Connect with Skadden☑️ Follow us on X and LinkedIn.☑️ Subscribe to GILTI Conscience on Apple Podcasts, Spotify or your favorite podcast app.☑️ Let us know what topics you would like to hear about on GILTI Conscience by emailing our executive producer at eman.cuyler@skadden.com.GILTI Conscience is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates. Skadden’s tax team is recognized globally for providing clients with creative and innovative solutions to their most pressing transactional, planning, and controversy challenges. The insights and views presented in GILTI Conscience are for general information purposes only and should not be taken as legal advice for any individual case or situation. The information presented is not a substitute for consulting with an attorney, nor does tuning into this podcast constitute an attorney-client relationship of any kind.

The stakes are high. That’s how Skadden national security partner Brooks Allen sets the stage for the U.S. Supreme Court case surrounding President Trump’s tariff policy. And that case is just one dynamic in today’s  “revolutionary” tariff environment. Brooks joins Skadden tax partner Jonathan Welbel and Ryan principal Rodrigo Fernandez to break down key issues affecting tariffs and transfer pricing. Hosts David Farhat and Stefane Victor moderate the discussion, which includes a look at scenario modeling and analysis, intercompany agreements and the need for coordinated tax and customs planning in today's trade landscape.🗝️ Key Points 🗝️ Top takeaways from this episode Revolutionary Change: Brooks explains that the tariff landscape has shifted in the last nine months, from a situation where the United States had an average tariff rate around 2.4% to well over 10% applied tariffs. Valuing IP Rights: Tariffs can significantly impact IP valuations. Rodrigo emphasizes that fluctuations in IP valuation due to tariffs can create significant uncertainty and potential disputes.Intercompany Agreements: These will become critical because they govern consequences on both the tax side and the customs side. “For whatever planning is being put in place from a customs perspective, one of the key components is getting the legal agreements in place,” Jonathan observes.💡 Featured Guests 💡Name: Rodrigo FernandezWhat he does:  Rodrigo specializes in providing transfer pricing, business and intangible property valuation, and other valuation-related projects to clients in a variety of industries, including energy, aerospace, telecommunications and software.Organization: RyanWords of wisdom: “The other thing is thinking about recovery options. So, there's a whole little cottage industry now being set up on customs duty recoveries… So, you applied this tariff, it got reversed, now we're going to go recover it. There's a whole industry around that.”Connect: LinkedIn Name: Jonathan WelbelWhat he does:  Jonathan has extensive experience counseling on tax controversy, transfer pricing and other international tax issues.Organization: SkaddenWords of wisdom: “What we really need is a customs and tax competent authority proceeding. There's no system in place right now, and that is going to be a big problem down the line.”Connect: LinkedInName: Brooks AllenWhat he does:  Brooks is lead coordinator of Skadden’s international trade practice. He focuses his practice on reviews by the Committee on Foreign Investment in the United States (CFIUS) and international trade issues, including trade policy, customs, trade remedy and export control issues.Organization: SkaddenWords of wisdom: “Uncertainty has been the name of the game here for us over the past nine months. And constant change. Well, it's been fun for us who like trade; it keeps us on our toes. But, I think from a perspective of our clients and from the perspective of companies operating in this environment, it's made it incredibly challenging because things change so rapidly.”Connect: LinkedInConnect with Skadden☑️ Follow us on X and LinkedIn.☑️ Subscribe to GILTI Conscience on Apple Podcasts, Spotify or your favorite podcast app.☑️ Let us know what topics you would like to hear about on GILTI Conscience by emailing our executive producer at eman.cuyler@skadden.com.GILTI Conscience is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates. Skadden’s tax team is recognized globally for providing clients with creative and innovative solutions to their most pressing transactional, planning, and controversy challenges. The insights and views presented in GILTI Conscience are for general information purposes only and should not be taken as legal advice for any individual case or situation. The information presented is not a substitute for consulting with an attorney, nor does tuning into this podcast constitute an attorney-client relationship of any kind.

For tax authorities and even taxpayers, AI promises to make lives easier. At the same time, it carries risks that “cannot be taken out of the system.” Dr. Stephen Daly, reader in tax law at King's College London, describes this dynamic in a conversation with Skadden partners David Farhat and Eric Sensenbrenner, associate Stefane Victor and senior advisor De Lon Harris. The panel explores the best and worst of the impact of AI in the tax world. Tune in for insights about what AI means for taxpayers and tax authorities alike.💡 Featured Guest 💡Name: Dr. Stephen DalyWhat he does: Dr. Daly teaches tax law to undergraduate students (International and Corporate Taxation) and postgraduate students (Tax Administration, Procedure and Dispute Resolution and EU Tax Law). His research focuses on administrative law, technical tax law and EU law. Organization: Kings College LondonWords of wisdom: “To embrace the capabilities of AI, you need to accept that mistakes will be made. So in the case of a chatbot, if a chatbot gets the answer wrong and a taxpayer ends up underpaying their taxes, well then you just leave them off the hook.”Connect: LinkedInConnect with Skadden☑️ Follow us on X and LinkedIn.☑️ Subscribe to GILTI Conscience on Apple Podcasts, Spotify, or your favorite podcast app.☑️ Let us know what topics you would like to hear about on GILTI Conscience by emailing our executive producer at eman.cuyler@skadden.com.GILTI Conscience is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates. Skadden’s tax team is recognized globally for providing clients with creative and innovative solutions to their most pressing transactional, planning, and controversy challenges. The insights and views presented in GILTI Conscience are for general information purposes only and should not be taken as legal advice for any individual case or situation. The information presented is not a substitute for consulting with an attorney, nor does tuning into this podcast constitute an attorney-client relationship of any kind.

Changes in the luxury fashion industry are reshaping transfer pricing considerations, says Giuseppe Abatista vice president at Banca Popolare di Puglia e Basilicata. In this conversation with Skadden tax partner David Farhat and associate Stefane Victor, Giuseppe shares his insights about how price increases, supply chain centralization and tariff uncertainties are creating new transfer pricing complexities in an industry known for high profitability and strong IP.💡 Featured Guest 💡Name: Giuseppe Abatista What he does: Giuseppe is a tax lawyer and vice president at Banca Popolare di Puglia e Basilicata, a bank founded in the 19th century and present in 10 Italian regions. He is also a group tax consultant for luxury fashion brand Salvatore Ferragamo.Organization: Banca Popolare di Puglia e BasilicataWords of Wisdom: “The main markets are high-taxing jurisdictions. U.S. usually is the first market for all brands. China tends to be the second one. Japan, by the way, is very strong right now basically due to an explosion in tourism, also driven by currency, because the yen is not strong.”Connect: LinkedIn Connect with Skadden☑️ Follow us on X and LinkedIn.☑️ Subscribe to GILTI Conscience on Apple Podcasts, Spotify, or your favorite podcast app.☑️ Let us know what topics you would like to hear about on GILTI Conscience by emailing our executive producer at eman.cuyler@skadden.com.GILTI Conscience is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates. Skadden’s tax team is recognized globally for providing clients with creative and innovative solutions to their most pressing transactional, planning, and controversy challenges. The insights and views presented in GILTI Conscience are for general information purposes only and should not be taken as legal advice for any individual case or situation. The information presented is not a substitute for consulting with an attorney, nor does tuning into this podcast constitute an attorney-client relationship of any kind.

Machado Meyer tax partner Fernando Colucci joins Skadden’s David Farhat, Loren Ponds, Eman Cuyler and Stefane Victor to explore Brazil's historic shift from a 27-year formulaic transfer pricing system to full OECD compliance. As he explains, “We moved from a very strict, very formulaic approach to a simple, a direct import of the arm's-length principle.” Tune in for his insights on dramatic changes facing multinational enterprises and Brazil's notorious 75% penalty system that raises the stakes on compliance decisions.🗝️ Key Points 🗝️ Top takeaways from this episode The Formula-to-Function Flip: Brazil abandoned 27 years of fixed profit margins in favor of the full OECD arm's-length principle, requiring companies to conduct detailed functional analyses for the first time.All-or-Nothing Penalties: Brazil's unique 75% penalty system creates stark choices: Accept the tax authority's adjustment with no penalty or challenge it and face penalties on any sustained portion.Intangibles Enter the Game: Previously excluded from transfer pricing rules, intangible transactions are now subject to OECD guidelines, creating new compliance challenges.Limited Relief Mechanisms: While Brazil introduced its first APA program, it operates more like a written consultation process than traditional APAs, and the country has never executed a MAP case despite having treaty provisions.💡 Featured Guest💡Name: Fernando ColucciWhat he does:  Fernando provides legal and tax assistance in M&A operations, restructurings, international taxation, international treaties, transfer pricing, tax planning, international investments taxation, asset and succession planning.Organization: Machado MeyerWords of wisdom: “My recommendation here is to start with a thorough risk assessment. So, understand your intercompany transactions, identify potential areas of concern. Getting prepared, that's the motive.”Connect: LinkedInConnect with Skadden☑️ Follow us on X and LinkedIn.☑️ Subscribe to GILTI Conscience on Apple Podcasts, Spotify or your favorite podcast app.☑️ Let us know what topics you would like to hear about on GILTI Conscience by emailing our executive producer at eman.cuyler@skadden.com.GILTI Conscience is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates. Skadden’s tax team is recognized globally for providing clients with creative and innovative solutions to their most pressing transactional, planning, and controversy challenges. The insights and views presented in GILTI Conscience are for general information purposes only and should not be taken as legal advice for any individual case or situation. The information presented is not a substitute for consulting with an attorney, nor does tuning into this podcast constitute an attorney-client relationship of any kind.

When goods, services and rights go back and forth within a company, how do you attribute profit or loss to one part of the company versus another? Former OECD head of tax treaties and transfer pricing Mary Bennett and EY’s Mike McDonald join this episode of “GILTI Conscience” for a detailed discussion on the attribution of profits to permanent establishments. Skadden tax partners David Farhat and Nate Carden and associate Stefane Victor host the discussion, which explores, among other topics, critical differences between Articles 7 and 9 of the OECD Model Tax Convention and why these distinctions matter for multinational businesses. 💡 Featured Guests 💡Name: Mary BennettWhat she does: Mary worked in private practice before joining the Office of International Tax Council at Treasury. She spent six years as the head of tax treaties and transfer pricing at the OECD in between two stints as a partner at Baker McKenzie before retiring in 2022.Organization: Formerly OECD and Baker McKenzieWords of wisdom: "The AOA recommends that companies create internal documentation of how their situations should be characterized, and countries should follow that documentation unless it clearly doesn't reflect reality.”Connect: LinkedInName: Mike McDonaldWhat he does: Mike spent multiple stints at Treasury and EY, currently serving as managing director of International Tax and Transactions,Transfer Pricing at EY.Organization: EYWords of Wisdom: “I think the best primer on profit attribution in general is Chapter One, or Part One, of the AOA.”Connect: LinkedInConnect with Skadden☑️ Follow us on X and LinkedIn.☑️ Subscribe to GILTI Conscience on Apple Podcasts, Spotify or your favorite podcast app.☑️ Let us know what topics you would like to hear about on GILTI Conscience by emailing our executive producer at eman.cuyler@skadden.com.GILTI Conscience is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates. Skadden’s tax team is recognized globally for providing clients with creative and innovative solutions to their most pressing transactional, planning, and controversy challenges. The insights and views presented in GILTI Conscience are for general information purposes only and should not be taken as legal advice for any individual case or situation. The information presented is not a substitute for consulting with an attorney, nor does tuning into this podcast constitute an attorney-client relationship of any kind.

Amount B is designed to streamline transfer pricing for baseline distribution and marketing companies worldwide, but “we’re apparently in a world of complexity and controversy,” says Jessie Coleman..A principal at KPMG, Jessie joins Skadden attorneys Nate Carden, David Farhat, Eman Cuyler and Stefane Victor to discuss everything there is to know about the current and future status of Amount B. Together, they explore questions of scoping – will jurisdictions agree that an entity is in-scope? – and who’s signing on to Amount B, as well as tensions that may arise over how to handle disputes. For companies that would likely be in-scope when implementation launches, Jessie suggests they prepare by monitoring their assets-to-sales, which will drive where they fit in the Amount B matrix. “I think knowing the unknown right now is really important,” she observes. 💡 Featured Guests 💡Name: Jessie Coleman  What she does: Jessie provides services related to transfer pricing planning, documentation, and controversy and international tax policy.Organization: KPMGWords of wisdom: “It's pretty important that companies look at where they are right now and also make sure that there's no misclassifications, I would say, or confusions. I think knowing the unknown right now is really important.”Connect: LinkedIn Connect with Skadden☑️ Follow us on X and LinkedIn.☑️ Subscribe to GILTI Conscience on Apple Podcasts, Spotify, or your favorite podcast app.☑️ Let us know what topics you would like to hear about on GILTI Conscience by emailing our executive producer at eman.cuyler@skadden.com.GILTI Conscience is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates. Skadden’s tax team is recognized globally for providing clients with creative and innovative solutions to their most pressing transactional, planning, and controversy challenges. The insights and views presented in GILTI Conscience are for general information purposes only and should not be taken as legal advice for any individual case or situation. The information presented is not a substitute for consulting with an attorney, nor does tuning into this podcast constitute an attorney-client relationship of any kind.

In our second episode in our spotlight series focused on celebrating diversity, GILTI Conscience’s David Farhat and Stefane Victor are joined by colleagues Brian Breheny and Jordan Schwartz for an earnest dialogue on DEI in big law. The guests discuss some of the challenges they faced as gay professionals, including their experiences coming out at work and questions they faced, as well as their efforts to advocate for diversity in the workplace and embrace its importance.💡 Featured Guests 💡Name: Brian Breheny What he does: Brian Breheny is a partner and co-head of Skadden’s SEC Reporting and Compliance practice. Brian formerly held numerous leadership positions at the SEC leader and now concentrates his practice on mergers and acquisitions, corporate governance, and general corporate and securities matters.Organization:  SkaddenWords of wisdom: “Keep in mind what you think people are thinking of you and be careful to address that — not to fix your personality to meet what you think they need.”Connect:  LinkedInName: Jordan SchwartzWhat he does: As counsel in Skadden’s Mass Torts, Insurance and Consumer Litigation Group, Jordan Schwartz represents clients in purported class actions, multidistrict litigation and mass tort proceedings in federal and state courts. Organization:  SkaddenWords of wisdom: “I think it's really incumbent on us to highlight how enjoyable [DEI efforts are], how enriching the experience is. That’s why we have a Diversity Committee.”Connect:  LinkedInConnect with Skadden☑️ Follow us on X & LinkedIn.☑️ Subscribe to GILTI Conscience on Apple Podcasts, Spotify or your favorite podcast app.☑️ Let us know what topics you would like to hear about on GILTI Conscience by emailing our executive producer at eman.cuyler@skadden.com.GILTI Conscience is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates. Skadden’s tax team is recognized globally for providing clients with creative and innovative solutions to their most pressing transactional, planning, and controversy challenges. The insights and views presented in GILTI Conscience are for general information purposes only and should not be taken as legal advice for any individual case or situation. The information presented is not a substitute for consulting with an attorney, nor does tuning into this podcast constitute an attorney-client relationship of any kind.

“You want people to be themselves. You're going to get the most productivity, the most career longevity from somebody that's happy about being where they are,” says De Lon Harris. In celebration of Pride Month, Skadden tax senior advisor De Lon Harris joins Eman Cuyler and Stefane Victor on “GILTI Conscience,” where he discusses his life and career as a gay professional. De Lon talks about his 30-plus years at the IRS and the different roles he took on, as well as his experience as a gay person working in government service. He also touches on mentorship, including the importance of seeking diversity in mentors.💡 Featured Guests 💡Name: De Lon HarrisWhat he does:   De Lon Harris is the Senior Advisor for Tax Resolution Strategies at Skadden. With more than three decades of experience at the IRS, De Lon Harris counsels clients on a wide range of tax controversy matters. Organization:  SkaddenWords of wisdom:  “You can't truly be happy if you're not comfortable in the workplace or you're not being exactly who you need to be.”Connect:  LinkedInConnect with Skadden☑️ Follow us on Twitter & LinkedIn.☑️ Subscribe to GILTI Conscience on Apple Podcasts, Spotify or your favorite podcast app.☑️ Let us know what topics you would like to hear about on GILTI Conscience by emailing our executive producer at eman.cuyler@skadden.com.GILTI Conscience is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates. Skadden’s tax team is recognized globally for providing clients with creative and innovative solutions to their most pressing transactional, planning, and controversy challenges. The insights and views presented in GILTI Conscience are for general information purposes only and should not be taken as legal advice for any individual case or situation. The information presented is not a substitute for consulting with an attorney, nor does tuning into this podcast constitute an attorney-client relationship of any kind.

“Transfer pricing, itself, is more of an art than a science. There's a lot of gray area in many, many aspects of transfer pricing,” says Clark Armitage. In this episode of the “GILTI Conscience” podcast, Skadden attorneys Nate Carden, David Farhat, Eman Cuyler and Stefane Victor, are joined by guest Clark Armitage of Caplin & Drysdale. The group dives into a comprehensive discussion about the intricacies of ICAP, MAP and APA in cross-border transfer pricing issues. They consider the application of each as a tool, debating their benefits and potential drawbacks in aiding taxpayers. The panel also discusses how a Pillar Two-world could bring additional questions to already complex pricing practices. 💡 Featured Guests 💡Name: J. Clark ArmitageWhat he does: Clark Armitage is a member at Caplin & Drysdale with vast experience in international tax lawyer with a focus on transfer pricing.Mr. Armitage's core practice is advising multinational corporations from a wide range of industries on transfer pricing matters, including planning, audits and appeals, advance pricing agreements (APAs) and mutual agreement procedures (MAPs). He has a particularly strong background in APAs, having served eight years in the IRS Advance Pricing Agreement Program, including as deputy director from 2008-10.Mr. Armitage also advises clients on other U.S. international tax issues. He is well versed with issues arising under the Tax Cuts and Jobs Act of 2017, including GILTI, FDII, BEAT and foreign tax credit basketing. He represents clients with residency issues before the IRS Treaty Assistance and Interpretation Team (TAIT), helps clients navigate the U.S. federal income tax implications of bona fide Puerto Rican residency and status under Puerto Rico Act 20, Act 22, Act 60 and Act 73, and advises on permanent establishment and similar exposures.Organization: Caplin & DrysdaleWords of wisdom: “The MAP process is based on bilateral treaties, for the most part bilateral, between two countries that allow for two competent authorities to come together to resolve a transfer pricing dispute.”Connect: LinkedIn | Email Connect with Skadden☑️ Follow us on Twitter & LinkedIn.☑️ Subscribe to GILTI Conscience on Apple Podcasts, Spotify or your favorite podcast app.☑️ Let us know what topics you would like to hear about on GILTI Conscience by emailing our executive producer at eman.cuyler@skadden.com.GILTI Conscience is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates. Skadden’s tax team is recognized globally for providing clients with creative and innovative solutions to their most pressing transactional, planning, and controversy challenges. The insights and views presented in GILTI Conscience are for general information purposes only and should not be taken as legal advice for any individual case or situation. The information presented is not a substitute for consulting with an attorney, nor does tuning into this podcast constitute an attorney-client relationship of any kind.

In this episode of the “GILTI Conscience” podcast, Skadden attorneys Eman Cuyler and Stefane Victor are joined by Jessica Hough, tax partner and head of Skadden’s Washington, D.C. office, and Pam Olson, a tax policy consultant at PwC, both of whom have significant experience advising on issues related to tax policy.Tune in to this special episode in which two very distinguished women leaders within the tax community share their insights, experience and strategies for success, as well as how to lead with purpose.💡 Featured Guests 💡Name: Pam OlsonWhat she does: Pam is a tax policy consultant at PwC. She previously served as the U.S. deputy tax leader and Washington National Tax Services (WNTS) practice leader of PwC. Before joining PwC, Pam served as assistant secretary for Tax Policy at the U.S. Department of the Treasury and head of Skadden’s Washington, D.C. Tax Group.Organization: PwCWords of wisdom: “We learn so much from people with different backgrounds than our own and different experiences than our own. And so, it's really important to surround yourself with people who aren't all cut from the same cloth.’ Connect: LinkedIn Name: Jessica HoughWhat she does: Jessica is a partner in Skadden’s tax practice and head of the firm’s Washington, D.C. office, where she represents clients on a wide range of tax matters, with particular emphasis on mergers, acquisitions and divestiture transactions, including spin-offs, debt and equity offerings, corporate and partnership restructurings, and joint ventures.   Organization: Skadden   Words of wisdom: “The key to developing a mentor-mentee relationship is to be yourself because the whole point of cultivating or forming that relationship is that you're finding some kind of commonality.”Connect: LinkedIn Connect with Skadden☑️ Follow us on Twitter & LinkedIn.☑️ Subscribe to GILTI Conscience on Apple Podcasts, Spotify or your favorite podcast app.☑️ Let us know what topics you would like to hear about on GILTI Conscience by emailing our executive producer at eman.cuyler@skadden.com.GILTI Conscience is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates. Skadden’s tax team is recognized globally for providing clients with creative and innovative solutions to their most pressing transactional, planning, and controversy challenges. The insights and views presented in GILTI Conscience are for general information purposes only and should not be taken as legal advice for any individual case or situation. The information presented is not a substitute for consulting with an attorney, nor does tuning into this podcast constitute an attorney-client relationship of any kind.

On this episode of the “GILTI Conscience” podcast, Skadden attorneys David Farhat, Nate Carden, Eman Cuyler and Stefane Victor, are joined by colleagues Fred Goldberg and De Lon Harris, both of whom have had distinguished careers with the IRS.  Tune in to hear Fred and De Lon share their thoughts, insights and predictions on the latest IRS projects and initiatives, as they talk about what's going on at the agency, new funding, enforcement priorities and tips for a more successful interaction with the IRS.Want more? Check out this prior episode with Fred Goldberg as he shares insights from his 50 years in tax law. 💡 Featured Guest 💡Name: Fred GoldbergWhat he does: Fred is of counsel in Skadden’s Tax Group. He represents business, tax-exempt and individual clients in all phases of dispute resolution with tax authorities. A primary focus of his practice has been to resolve large and complex tax controversies related to a wide range of issues across all industries. Fred is a former IRS chief counsel, IRS commissioner and Department of the Treasury assistant secretary for tax policy. Organization: Skadden  Words of wisdom: “This is the first time ever the IRS has had serious long-term funding. … But it didn't take Congress long to start taking it back.” Connect: LinkedIn Name: De Lon Harris  What he does:  De Lon is a senior advisor for tax resolution strategies in Skadden’s Tax Group, where he counsels clients on a wide range of tax controversy matters. De Lon has over three decades of experience at the IRS, including serving in numerous executive positions. Earlier in his career, De Lon also participated in a one-year fellowship with the U.S. House of Representatives Ways and Means Oversight Subcommittee.Organization: Skadden   Words of wisdom: “I want to talk about what these folks that fall within that large partnership and large corporate categories should be thinking about, especially if they haven't been audited before. And the one thing they should be thinking about is they are eligible, under Revenue Procedure 2022-39, they're an eligible taxpayer that they can disclose issues that need to be adjusted without penalties, instead of having to file a qualified amended return.” Connect: LinkedIn Connect with Skadden☑️ Follow us on Twitter & LinkedIn.☑️ Subscribe to GILTI Conscience on Apple Podcasts, Spotify, Google Podcasts, or your favorite podcast app.☑️ Let us know what topics you would like to hear about on GILTI Conscience by emailing our executive producer at eman.cuyler@skadden.com.GILTI Conscience is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates. Skadden’s tax team is recognized globally for providing clients with creative and innovative solutions to their most pressing transactional, planning, and controversy challenges. The insights and views presented in GILTI Conscience are for general information purposes only and should not be taken as legal advice for any individual case or situation. The information presented is not a substitute for consulting with an attorney, nor does tuning into this podcast constitute an attorney-client relationship of any kind.

The evolving landscape of tax reforms in Japan and the broader Asia Pacific region presents a complex tapestry of challenges and strategic shifts.On this episode of the “GILTI Conscience” podcast, Skadden partners Nate Carden and David Farhat are joined by Samuel Gordon, an international tax partner at Deloitte in Japan to dissect tax implications, reform and concerns in this part of the globe.The discussion delves into the viewpoint of Pillar Two in Japan, as well as in the larger Asia Pacific region. The conversation also includes how Pillar Two is coming into play in other areas across the continent, including transfer pricing, training and knowledge base, and enforcement, as well as the effects on multinationals doing business throughout the region. 💡 Featured Guest 💡Name: Samuel GordonWhat he does: Samuel is a bilingual transfer pricing partner at Deloitte, advising firms in Japan and the Asia Pacific region. He has experience in planning, documentation, risk assessments, advance pricing arrangements, transfer pricing governance, and M&A and restructuring.Organization: DeloitteWords of wisdom: “I'm an American who's lived in Japan a long time. My observation is the U.S. is always close to the OECD, but very concerned about maintaining … that sovereign perspective. We don't have that as much in Japan. … [T]here may be some interpretive differences, but I don't think that you're going to see any differences with respect to the rulemaking per se.”Connect: LinkedIn Connect with Skadden☑️ Follow us on Twitter & LinkedIn.☑️ Subscribe to GILTI Conscience on Apple Podcasts, Spotify, Google Podcasts, or your favorite podcast app.☑️ Let us know what topics you would like to hear about on GILTI Conscience by emailing our executive producer at eman.cuyler@skadden.com.GILTI Conscience is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates. Skadden’s tax team is recognized globally for providing clients with creative and innovative solutions to their most pressing transactional, planning, and controversy challenges. The insights and views presented in GILTI Conscience are for general information purposes only and should not be taken as legal advice for any individual case or situation. The information presented is not a substitute for consulting with an attorney, nor does tuning into this podcast constitute an attorney-client relationship of any kind.

While tax insurance can be used in a variety of contexts, from M&A deals to regular tax planning scenarios, it is also relevant when it comes to transfer pricing. Recent developments have expanded the scope of tax insurance to cover multiple years of transfer pricing in returns in M&A deals, and the potential of seeing more transfer pricing insurance in the future is a strong possibility.On this episode of the “GILTI Conscience” podcast, hosts Nate Carden and David Farhat are joined by Skadden’s Eman Cuyler and Stefane Victor and Yoav Shans of McGill and Partners to discuss the ins and outs of tax insurance including how it relates to transfer pricing, how a claim is initiated and insuring a position.💡 Featured Guest 💡Name: Yoav ShansWhat he does: Yoav is a partner and tax lead in McGill and Partner’s M&A team, leading the global specialty tax insurance practice. Yoav’s industry experience includes diversified industrial products, consumer products, IT solutions and energy.Organization: McGill and PartnersWords of wisdom: “Tax insurance essentially is a risk mitigation tool.” Connect: LinkedInConnect with Skadden☑️ Follow us on Twitter & LinkedIn.☑️ Subscribe to GILTI Conscience on Apple Podcasts, Spotify, Google Podcasts, or your favorite podcast app.☑️ Let us know what topics you would like to hear about on GILTI Conscience by emailing our executive producer at eman.cuyler@skadden.com.GILTI Conscience is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates. Skadden’s tax team is recognized globally for providing clients with creative and innovative solutions to their most pressing transactional, planning, and controversy challenges. The insights and views presented in GILTI Conscience are for general information purposes only and should not be taken as legal advice for any individual case or situation. The information presented is not a substitute for consulting with an attorney, nor does tuning into this podcast constitute an attorney-client relationship of any kind.

Pillar Two is no longer hypothetical. It’s now time for Pillar Two “readiness.”In this episode of the “GILTI Conscience” podcast, hosts David Farhat, Nate Carden, Eman Cuyler and Stefane Victor discuss Pillar Two with Eric Sensenbrenner and Paul Oosterhuis. The group delves into the current state of Pillar Two, which has shifted from a source of concern to a challenge being actively addressed. Companies will have to remain nimble as changes and adjustments are likely during the implementation process.  💡 Featured Guests 💡Name: Eric SensenbrennerWhat he does: Eric is the head of Skadden’s Global Tax Group and represents clients on a broad range of U.S. and international tax matters, with a particular emphasis on transactional tax planning in the international context.Organization: SkaddenWords of wisdom: “You've got to think more about systemic and operational changes.” Connect: LinkedIn Name: Paul OosterhuisWhat he does: Paul is an internationally recognized senior practitioner in the area of international tax. He has extensive experience in mergers and acquisitions, post-acquisition integration, spin-offs, internal restructuring and joint ventures. He also represents multinational companies in non-transactional international tax planning and assists clients in resolving high-stakes, complex tax controversies.Organization: SkaddenWords of wisdom: “ I think we all need to just kind of keep our seat belts tight until we see the outcome of the 2024 election to see if we're going to be part of the Pillar two community or if we're gonna be bucking the Pillar two community.”Connect: LinkedIn Connect with Skadden☑️ Follow us on Twitter & LinkedIn.☑️ Subscribe to GILTI Conscience on Apple Podcasts, Spotify, Google Podcasts, or your favorite podcast app.☑️ Let us know what topics you would like to hear about on GILTI Conscience by emailing our executive producer at eman.cuyler@skadden.com.GILTI Conscience is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates. Skadden’s tax team is recognized globally for providing clients with creative and innovative solutions to their most pressing transactional, planning, and controversy challenges. The insights and views presented in GILTI Conscience are for general information purposes only and should not be taken as legal advice for any individual case or situation. The information presented is not a substitute for consulting with an attorney, nor does tuning into this podcast constitute an attorney-client relationship of any kind.

Pro bono projects provide unique flexibility and opportunities for skill development, benefiting both the professional who takes on the work and the client. In this episode of “GILTI Conscience,” hosts David Farhat, Stefane Victor and Nate Carden present the next installment of the podcast’s Spotlight Series, which includes a discussion with associates Jared Binstock and Sanessa Griffiths about the role pro bono work plays in tax and their experiences and motivations behind taking on this type of work.Both Sanessa and Jared provide examples of how to find pro bono projects that are a good fit for their practices. For Sanessa, finding causes that are aligned with her values and interests motivate her to say yes. Jared explains, "If I have time to work on it, I usually just say yes. I'm not picky because you never really know what issues are going to come up. It's always a learning experience."💡 Featured Guests 💡Name: Sanessa GriffithsWhat she does: Sanessa advises clients on a broad range of tax controversy matters and transactional situations. Her practice focuses on matters related to high-stakes and complex tax controversies involving transfer pricing, economic substance and business purpose doctrines, and tax treaty interpretation. Organization: SkaddenWords of wisdom: “There are so many things you can do in pro bono, even within just the realm of tax pro bono, that'll make you a better lawyer while contributing to society.” Connect: LinkedIn Name: Jared BinstockWhat he does: Jared advises on the tax aspects of debt and equity financings, initial public offerings, bankruptcy restructurings, and internal integration and restructuring transactions. In addition to his broad-based M&A tax practice, he counsels clients in the financial services sector on insurance-related corporate transactions, including capital raising, reinsurance transactions and restructurings.Organization: SkaddenWords of wisdom: “One of my favorite parts about practicing tax has been the experience that I've had in pro bono.” Connect: LinkedIn Connect with Skadden☑️ Follow us on Twitter & LinkedIn.☑️ Subscribe to GILTI Conscience on Apple Podcasts, Spotify, Google Podcasts, or your favorite podcast app.☑️ Let us know what topics you would like to hear about on GILTI Conscience by emailing our executive producer at eman.cuyler@skadden.com.GILTI Conscience is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates. Skadden’s tax team is recognized globally for providing clients with creative and innovative solutions to their most pressing transactional, planning, and controversy challenges. The insights and views presented in GILTI Conscience are for general information purposes only and should not be taken as legal advice for any individual case or situation. The information presented is not a substitute for consulting with an attorney, nor does tuning into this podcast constitute an attorney-client relationship of any kind.

In this episode of the “GILTI Conscience” podcast, David Farhat, Nate Carden and Stefane Victor are joined by Mike Gaffney of Atlantic Global Risk to talk about tax insurance and its role in addressing uncertainty in tax laws. Mike describes the workings of tax insurance, including the length of a typical policy, particularly surrounding a deal, and explored ideas such as deciding what covered tax position to insure and how various jurisdictions come into play.The conversation takes listeners through the impact that evolving international tax law has had on tax insurance; what multinationals need to consider when exploring a policy; recognizing risk, particularly surrounding BEPS; and tax insurance in an M&A transaction. 💡 Featured Guest 💡Name: Michael GaffneyWhat he does: Mike is a director and a member of Atlantic Global Risk’s tax team responsible for tax liability insurance products. Prior to joining Atlantic, Mike most recently was PwC’s global tax leader for the banking and capital markets practice and advised financial institutions on complex tax matters. He has authored several articles on international tax, financial products and transfer pricing.Organization: Atlantic Global RiskWords of wisdom: “The way I think of the product is it’s a tool for advisors to have and for taxpayers to know about.” Connect: LinkedIn Connect with Skadden☑️ Follow us on Twitter & LinkedIn.☑️ Subscribe to GILTI Conscience on Apple Podcasts, Spotify, Google Podcasts, or your favorite podcast app.☑️ Let us know what topics you would like to hear about on GILTI Conscience by emailing our executive producer at eman.cuyler@skadden.com.GILTI Conscience is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates. Skadden’s tax team is recognized globally for providing clients with creative and innovative solutions to their most pressing transactional, planning, and controversy challenges. The insights and views presented in GILTI Conscience are for general information purposes only and should not be taken as legal advice for any individual case or situation. The information presented is not a substitute for consulting with an attorney, nor does tuning into this podcast constitute an attorney-client relationship of any kind.

In this episode of the “GILTI Conscience” podcast, hosts David Farhat and Nate Carden are joined by associates Stefane Victor and Eman Cuyler, and Howard Sacarob, head of U.S. tax for the Royal Bank of Canada (RBC). Mr. Sacarob is also a member of RBC’s diversity leadership council and an executive sponsor of the Pride Employee Resource Group (ERG) at RBC, where he works to make diversity and inclusion central to the firm’s culture.The participants reflected on obstacles they’ve faced in the professional world as individuals with diverse perspectives and identities.They discussed the strides that companies are making to prioritize DEI and bring everyone into the conversation while also acknowledging the difficulties that diverse individuals still experience in the workplace. Tune in for this special DEI spotlight on “GILTI Conscience.”💡 Featured Guest 💡Name: Howard SacarobWhat he does:  Howard Sacarob is the head of U.S. tax for the Royal Bank of Canada. As both an attorney and a CPA, he brings extensive and diverse experience to the capital markets and wealth management units at RBC. He is also a member of the company’s diversity leadership council and is an executive sponsor of the Pride Employee Resource Group (ERG).Organization:  Royal Bank of Canada (RBC) - Capital Markets UnitWords of wisdom: “ERGs give people an opportunity to meet others who are in other parts of the firm that they might not otherwise meet or interact with and learn something, learn something about themselves, have a nice time, establish a rapport with people they wouldn't otherwise get to know, help foster a sense of community.”Connect:  LinkedIn Connect with Skadden☑️ Follow us on Twitter & LinkedIn.☑️ Subscribe to GILTI Conscience on Apple Podcasts, Spotify, Google Podcasts, or your favorite podcast app.☑️ Let us know what topics you would like to hear about on GILTI Conscience by emailing our executive producer at eman.cuyler@skadden.com.GILTI Conscience is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates. Skadden’s tax team is recognized globally for providing clients with creative and innovative solutions to their most pressing transactional, planning, and controversy challenges. The insights and views presented in GILTI Conscience are for general information purposes only and should not be taken as legal advice for any individual case or situation. The information presented is not a substitute for consulting with an attorney, nor does tuning into this podcast constitute an attorney-client relationship of any kind.

In this episode of the “GILTI Conscience” podcast, Skadden partners David Farhat and Nate Carden, along with associates Eman Cuyler and Stefane Victor, discuss Pillar One’s Amount B with Jessie Coleman of KPMG.In December 2022, the OECD issued documentation providing a much anticipated outline of Amount B, however, many uncertainties still remain surrounding scoping requirements and pricing.There is still much work to be done to address concerns around the drafted Amount B documentation and ensure the new framework will work for both developed and developing countries. However, many countries seem committed to making Amount B a success, including the U.S., as the Treasury has stated it’s very open to input. 💡 Featured Guest 💡Name: Jessie ColemanWhat she does: As a transfer pricing principal of the Washington National Tax Group ofKPMG US, Jessie provides services related to transfer pricing planning, documentation and controversy, and international tax policy.Organization: KPMGWords of wisdom: “I think we have a lot of countries, and our own Treasury has been very clear on this, that are very committed to making Amount B a success.”Connect: LinkedIn  Connect with Skadden☑️ Follow us on Twitter & LinkedIn.☑️ Subscribe to GILTI Conscience on Apple Podcasts, Spotify, Google Podcasts, or your favorite podcast app.☑️ Let us know what topics you would like to hear about on GILTI Conscience by emailing our executive producer at eman.cuyler@skadden.com.GILTI Conscience is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates. Skadden’s tax team is recognized globally for providing clients with creative and innovative solutions to their most pressing transactional, planning, and controversy challenges. The insights and views presented in GILTI Conscience are for general information purposes only and should not be taken as legal advice for any individual case or situation. The information presented is not a substitute for consulting with an attorney, nor does tuning into this podcast constitute an attorney-client relationship of any kind.