The Meaning of Avoidance and Aggressive Tax Planning in the BEPS Context Yariv Brauner University of Florida

Discussion BEPS Targeting abuse or perceived abuse? Mixed results Value creation The internationalization of the international tax regime The role of tax treaties Is it possible to coherently distinguish between domestic and treaty anti abuse rules? Is such distinction desirable?

Action 6 Confusion or compromise? The meaning of “minimal standards” Minimal standards and abuse, more generally LOB Active Trade or Business (& “substance”) New U.S. Model PPT Fundamental conflict with U.S. legal culture EU law? The mix up of measures Special Tax Regimes (take I)

Actions 8-10 Intentions Coordination, holism, innovation It is all about the protection of Arm’s Length A legal principle? Seriously? Content unsettled Is it possible to settle the law of arm’s length? How come then a “new standard”? Back to basics Arm’s length as an anti abuse standard Adding value creation Treaties and the international transfer pricing regime

ATP and BEPS What then is the message of BEPS? The BEPS environment and the trend toward inflation of anti abuse rules The rule of law New U.S. Model Complex LOB STR (take II) Changes in law & denial of treaty benefits The “new” tax treaty? Missed opportunities