This is GILTI Conscience: Casual Discussions on Transfer Pricing, Tax Treaties, and Related Topics, a podcast from Skadden that invites thought leaders and industry experts to discuss pressing transfer pricing issues, international tax reform efforts, and tax administration trends. We also dig into the innovative approaches companies are using to navigate the international tax environment and address the obligation everyone loves to hate.
If you like what you’re hearing, be sure to subscribe in your favorite podcast app so you don’t miss any future conversations. Skadden's tax team is recognized globally for providing clients with creative and innovative solutions to their most pressing transactional, planning, and controversy challenges. Additional information about Skadden can be found at 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. This podcast is provided for educational and informational purposes only and is not intended and should not be construed as legal advice. This podcast is considered advertising under applicable state laws.
In this episode of "GILTI Conscience," Mike McDonald, one of the architects of Internal Revenue Code Section 482, joins Skadden’s Nate Carden (https://www.skadden.com/professionals/c/carden-nathaniel), David Farhat (https://www.skadden.com/professionals/f/farhat-david), Eman Cuyler (https://www.skadden.com/professionals/c/cuyler-eman) and Stefane Victor (https://www.skadden.com/professionals/v/victor-stefane) for an in-depth discussion of the "commensurate with income" (CWI) standard. The panel explores the legislative history and intent behind CWI, its complex relationship with the arm’s length principle and the evolution of regulatory approaches.
💡 Featured Guests 💡
Name: Mike McDonald
What he does: Mike spent 16 years at the U.S. Department of the Treasury in the business and international tax division, followed by a career as managing director of international tax and transactions, transfer pricing at Ernst & Young. He was a drafter of the Section 482 transfer pricing regulations, including 482-7.
Words of Wisdom: "The fact that, to the extent that a ‘pure hindsight rule’ is going to be applied, then there is going to be wicked double taxation, because the other side doesn't have to respect it.”
Connect: LinkedIn (https://www.linkedin.com/in/michael-mcdonald-980aa433b)
Connect with Skadden
☑️ Follow us on X (https://twitter.com/SkaddenArps?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor) and LinkedIn (https://www.linkedin.com/company/skadden-arps-slate-meagher-flom-llp-affiliates/).
☑️ Subscribe to GILTI Conscience on Apple Podcasts (https://podcasts.apple.com/us/podcast/gilti-conscience/id1603270987), Spotify (https://open.spotify.com/show/3nNf0ip6ooZ6ilbhpBJ4lR) 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 (mailto:eman.cuyler@skadden.com).
GILTI Conscience is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates (https://www.skadden.com/). 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.
26 Feb 2026
Navigating Pillar Two: Side-by-Side, Safe Harbors and the Future of Global Tax Cooperation
Dive into the complexities of international tax reform as Skadden’s David Farhat (https://www.skadden.com/professionals/f/farhat-david), Patrick O'Gara (https://www.skadden.com/professionals/o/ogara-patrick-j), Loren Ponds (https://www.skadden.com/professionals/p/ponds-loren-c) and Stefane Victor (https://www.skadden.com/professionals/v/victor-stefane), along with Pascal Saint-Amans (https://commission.europa.eu/pascal-saint-amans_en) — 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-Amans (https://commission.europa.eu/pascal-saint-amans_en)
What 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) (https://www.linkedin.com/company/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: LinkedIn (https://www.linkedin.com/in/pascal-saint-amans/)
Connect with Skadden
☑️ Follow us on X (https://twitter.com/SkaddenArps?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor) and LinkedIn (https://www.linkedin.com/company/skadden-arps-slate-meagher-flom-llp-affiliates/).
☑️ Subscribe to GILTI Conscience on Apple Podcasts (https://podcasts.apple.com/us/podcast/gilti-conscience/id1603270987), Spotify (https://open.spotify.com/show/3nNf0ip6ooZ6ilbhpBJ4lR) 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 (mailto:eman.cuyler@skadden.com).
GILTI Conscience is a podcast by (https://www.skadden.com/)Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates (https://www.skadden.com/). 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.
13 Nov 2025
From GILTI to NCTI: Unpacking the 2025 Tax Overhaul
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 (https://www.skadden.com/professionals/p/ponds-loren-c), Eric Sensenbrenner (https://www.skadden.com/professionals/s/sensenbrenner-eric-b) and Paul Oosterhuis (https://www.skadden.com/professionals/o/oosterhuis-paul-w) break down the bill’s implications in this conversation with David Farhat (https://www.skadden.com/professionals/f/farhat-david) and Stefane Victor (https://www.skadden.com/professionals/v/victor-stefane). 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 Sensenbrenner (https://www.skadden.com/professionals/s/sensenbrenner-eric-b)
What 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: Skadden (https://www.skadden.com/)
Words 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: LinkedIn (https://www.linkedin.com/in/ericsensenbrenner/)
Name: Loren Ponds (https://www.skadden.com/professionals/p/ponds-loren-c)
What 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: Skadden (https://www.skadden.com/)
Words 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 (https://www.linkedin.com/in/lorenponds)
Name: Paul Oosterhuis (https://www.skadden.com/professionals/o/oosterhuis-paul-w)
What 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: Skadden (https://www.skadden.com/)
Words 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:...
Reach and audience
Public platform figures. Ratings count people who left a rating, not total listeners.
Apple Podcasts (US)
4.7 / 5
24 ratings
Spotify
5.0 / 5
5 ratings
Podcast Authority Score: 30 / 100
A composite of feed quality, social presence, YouTube performance and engagement. Read the methodology.
Quality
29
Social presence
0
YouTube
0
Engagement
77
Host of GILTI Conscience?
Claim your podcast to manage its listing and keep your show details accurate.
Pod Engine is an independent podcast discovery and analytics service and is not affiliated with or endorsed by this podcast. Artwork and show content belong to their owners. Full legal notice.
Explore this show Podcast research with Pod Engine
