ARLINGTON, Va., March 16, 2011 /PRNewswire-USNewswire/ -- When the Obama administration released its fiscal 2012 budget, it carried over many of the international tax provisions from the administration's fiscal 2011 budget. The proposals raise a number of unanswered questions for U.S. multinationals, and these will be discussed by key staffers of the U.S. Congress' Joint Committee on Taxation and leading tax attorneys in a new webinar from BNA Tax & Accounting, International Tax Revenue Raisers: An Assessment of the Administration's FY 2012 Revenue Proposals and Their Impact on MNCs on March 30, 2011.
The webinar will focus in particular on the international tax revenue raisers that could significantly impact multinational corporations and on certain extender provisions.
This live webinar will include a discussion of the following proposals:
- Defer Deduction of Interest Expense Related to Deferred Income
- Determine the Foreign Tax Credit on a Pooling Basis
- Tax Currently Excess Returns Associated with Offshore Transfers of Intangibles
- Limit Shifting of Income Through Intangible Property Transfers
- Disallow the Deduction for Non-Taxed Reinsurance Premiums Paid to Affiliates
- Limit Earnings Stripping by Expatriated Entities
- Modify the Tax Rules for Dual Capacity Taxpayers
The panel will be moderated by Joseph Calianno and Alan Granwell and they will be joined by the Joint Committee on Taxation's Kevin Levingston, Legislation Tax Accountant, and Kristeen Witt, Legislative Counsel. Representatives of the Office of International Tax Counsel of the U.S. Treasury Department have also been invited to participate.
"Our distinguished panelists will explain the nature of the proposals, their prospects for enactment, and the impact on U.S. multinationals if enacted," said Harold W. Pskowski, BNA's Managing Editor for U.S. International publications. "The Obama Administration has emphasized the use of the U.S. international tax system to raise revenue for other tax-favored initiatives and was successful in enacting a number of its proposals in 2010. The need for revenue means that you can count on these receiving serious consideration in the coming year," Pskowski added.
About the Speakers
Kevin Levingston is Legislation Tax Accountant with the Joint Committee on Taxation ("JCT"). The JCT is a nonpartisan committee of the United States Congress that operates to assist members of the majority and minority parties in both houses of Congress on tax legislation. Due to its non-partisan stature, it interacts with members of Congress, tax-writing committees and their staffs and ensures consistency on tax bills moving through the floor of each chamber, and to a House-Senate conference committee. Kevin focuses on international tax legislative matters.
Prior to joining the JCT in March 2009, Kevin was a Director with PricewaterhouseCoopers (PwC) in its Atlanta tax practice. While at PwC, Kevin assisted US and foreign multinational corporations with domestic and non-US tax planning, tax compliance, and income tax accounting related issues.
Kristeen R. Witt is Legislation Counsel with the Joint Committee on Taxation. Ms. Witt joined the Joint Committee in 2008. Ms. Witt previously worked as the Tax Director for Zimmer Holdings, Inc.; as the Director of Domestic Tax Planning at Yum! Brands, Inc. (previously Tricon Global Restaurants, Inc.), and as a Tax Planning Manager at Coopers & Lybrand.
Joseph Calianno, (speaker and co-moderator) is a Partner and the International Technical Tax Practice Leader in the National Tax Office of Grant Thornton LLP. He practices in all areas of international taxation and helps assist the offices around the firm and the firm's clients with complex international issues. He regularly advises on issues relating to cross border restructuring and financing, subpart F, foreign tax credit planning, tax treaties and global tax rate reduction. Mr. Calianno is a former Special Counsel to the Deputy Associate Chief Counsel (International), Office of Chief Counsel, IRS.
Alan Winston Granwell, (speaker and co-moderator) is a Partner with DLA Piper LLP, in their Washington, D.C. office. Mr. Granwell's practice encompasses representing multinational corporations on cross-border planning, including acquisitions, dispositions and business restructurings, IP migrations, services arrangements, repatriation planning, international insurance, international transportation, cross-border leasing, transfer pricing, and the use of bilateral tax treaties. He also advises high-net-worth individuals on cross-border tax planning and structuring.
Mr. Granwell conducts an active administrative practice, regularly representing clients before the Internal Revenue Service and the US Treasury Department. Mr. Granwell is a former International Tax Counsel of the U.S. Treasury Department.
International Tax Revenue Raisers: An Assessment of the Administration's FY 2012 Revenue Proposals and Their Impact on MNCs will take place March 31, 2011, from 12:30 pm - 2:00 pm, ET. To register for this webinar and obtain further information about CLE and CPE credits, go to http://www.bnatax.com/international-tax-revenue-webinar/?open&cmpid=tmtxpr2011 or call 1-800-372-1033, menu Option 6, then Option 1. The per site fee is $249.
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About BNA Tax & Accounting Webinars
BNA Tax & Accounting is the foremost source of tax and accounting research, news, practice tools, and guidance for tax attorneys, CPAs, corporate tax managers, estate planners, and financial accountants. Designed for today's busy practitioners, our webinars offer the same expertise and relevance that are the hallmark of all BNA Tax & Accounting resources. Conference attendees have the opportunity to ask the speakers questions, and may be eligible to earn CLE or CPE credits - all from the convenience of their own office or conference room.
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