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Editor: Paul L. Caron
Pepperdine University School of Law

Monday, February 25, 2008

ABA Tax Section Publishes Winter 2008 Issue of News Quarterly

Aba_coverThe ABA Tax Section has published 27 News Quarterly No. 2 (Winter 2008):

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Here's the note I sent Karen after reading the interview with her:

Dear Karen,

Your interview in the ABA Tax Section News Quarterly raised a question in my mind. If the mechanical, 40 percent equity rule were replaced with a more principles-based rule, would that change require the creation and adoption of one or more meta-standards to govern the acceptable interpretation of those principles? Without some guide for taxpayers, you might be inviting overreaching.

Four meta-standards that could be used are plain meaning, with recourse to context and, if necessary, object and purpose, all under the umbrella of good faith. These meta-standards are drawn from Art. 31(1) of the Vienna Convention on the Law of Treaties, and as such, they have been interpreted and applied over the past 28 years by international judicial authorities, including (since 1995) the panels and Appellate Body of the WTO.

Incorporation of those meta-standard interpretations into U.S. regulations or statutes might be accomplished by generalization or by framing examples that encapsulate specific fact patterns and outcomes.


Posted by: Martin B. Tittle | Feb 25, 2008 12:42:59 PM