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T516 INTERNATIONAL TAXATION II -- OUTBOUND
INTERNATIONAL ASPECTS OF US TAX LAW

JEFFERY M KADET
UNIVERSITY OF WASHINGTON SCHOOL OF LAW
TAX LLM PROGRAM

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COURSE DESCRIPTION

An introduction to the practice of US tax law with respect to the conduct by US persons of business and investment outside the US either directly or through non-US entities.

This course seeks to strike a balance between the technical detail within the US tax law and the practical application of that law to typical business and investment situations. The goals of the course include:

· Achieving familiarity and understanding of the provisions of US tax law relevant to "outbound" investment

· Developing skill in applying these provisions of US law to practical business and investment situations

· Developing an ability to examine an outbound business or investment situation and to identify relevant US tax issues

· Learning to analyze the various US issues in order to arrive at conclusions and recommended courses of action

· Developing sensitivity to identify opportunities and risks


Contents of Class Sessions

Section 1 -- Course Introduction and Significant Background Matters

· 1-01 Intro to Course Including Admin Matters (17:55)

· 1-02 Goals -- What You'll Understand -- Cisco (26:39)

· 1-03 Case Study Format and "Big-Big Picture" (44:54)

· 1-04 "Big Picture" for this Course (12:18)

· 1-05 Methodology of Tax Practice (15:11)

· 1-06 Look-Back to Int'l Tax I -- Mostly "Check-the-Box" (1:07:26)

· 1-07 Look-Back to Int'l Tax I -- Source of Income and Treaties (13:26)


Section 2 --- The Foreign Tax Credit

· 2-01 Overall Economics of FTC (18:55)

· 2-02 Who is the Taxpayer and Deduction vs Credit (1:07:46)

· 2-03 What is a Creditable Tax? (38:28)

· 2-04 Deemed-Paid FTC (40:17)

· 2-05 §904 FTC Limitation -- Introduction (34:43)

· 2-06 §904(d) Separate FTC Limitation Baskets (53:44)

· 2-07 §904(f) Overall Foreign Loss, etc. (26:16)

· 2-08 Effect of Tax Treaties on the FTC (14:47)


Section 3 -- Subpart F - §1248

· 3-01 Introduction (1:05:59)

· 3-02 §§951 and 952 Income Inclusions, US Shareholders, etc. (28:28)

· 3-03 §954 Foreign Base Company Income (1:03:42)

· 3-04 §956 Investment in US Property (14:06)

· 3-05 §§957 and 958 Definition of CFC (34:16)

· 3-06 §959 Previously Taxed Income (13:22)

· 3-07 Hopscotch Pattern (13:32)

· 3-08 Special Issues -- FPHCI (27:10)

· 3-09 Special Issues -- FBCSI (24:02)

· 3-10 §1248 (13:56)


Section 4 -- Passive Foreign Investment Companies

· 4-01 PFICs (47:00)



Section 5 --- Transfer Pricing

· 5-01 Introduction and Macro View (25:35)

· 5-02 Basic Concepts (1:03:48)

· 5-03 Transfer Pricing Methods (28:59)

· 5-04 Special Issues (32:08)

· 5-05 Recognizing Issues and Managing Risk (16:22)

· 5-06 The Future (10:27)


Section 6 --- Bringing It All Together -- Supply Chain Planning

· 6-01 Introductory Comments (8:09)

· 6-02 Functions and Risks (20:11)

· 6-03 TP Issues Including Contract Manufacturing and Limited-Risk Distributors (32:34)

· 6-04 Subpart F and Disregarded Entity Issues (22:52)

· 6-05 Moving IP Overseas Including TP Consequences (25:51)


Section 7 --- Non-Recognition Transactions - §367

· 7-01 Non-Recognition Transactions - §367 (1:03:52)


Section 8 --- Tax Treaties -- Outbound Aspects

· 8-01 Tax Treaties -- Outbound Aspects (15:27)


Section 9 -- Foreign Currency Issues

· 9-01 Foreign Currency Issues (10:10)