USCIB Hosts Tax and Customs Committee Meetings in Minneapolis

USCIB convened a Tax Committee meeting on October 8, hosted by USCIB member General Mills at the company's Minneapolis headquarters. The Tax Committee meeting featured remarks from Rebecca Burch, Deputy Assistant Secretary International Affairs, on the latest developments in the ongoing negotiations on the taxation of the digital economy. Paul Flignor from member firm DLA Piper spoke on emerging transfer pricing issues associated with stock-based compensation. Tom Roesser from member company Microsoft and Michael Lebovitz, Senior Vice President, International Tax Policy at USCIB, read out from the fifth session of the UN Framework Tax Convention negotiations and provided updates on recent developments. Cesare Silvani from member firm Maisto e Associati updated the committee on the EU Tax Simplification Omnibus' recent developments.

Later that day, USCIB's Tax and Customs Committees held a joint meeting, covering common policy issues overlapping tax and customs. Flignor and Jeremy Klein (DLA Piper), and Michael Rousek, Vice President, Customs and Trade Facilitation at USCIB, discussed the arm's length standard and the definitional challenges between tax and customs. Arnaud Fendler (ICC) and Rousek presented the International Chamber of Commerce Policy Report on Transfer Pricing and Customs Valuation. Flignor, Klein, and Rousek wrapped up the meeting with an overview of the practical issues in transfer pricing and customs enforcement.