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Emin Toro’s practice concentrates on the needs of multinational companies, including both tax controversies and counseling. Mr. Toro’s controversy experience includes audits, administrative appeals, litigation, as well as advance pricing agreement and competent authority proceedings. Mr. Toro has handled controversies in a number of subject matter areas, including cross-border trading structures, cost sharing arrangements, income and expense reallocations under Section 482, royalty arrangements, contract manufacturing and distribution arrangements, foreign tax credits, treatment of corporate reorganizations and restructurings, computation of allowable FSC benefits, and allowance of losses on subsidiary stock and debt.
Mr. Toro has provided counseling on tax-efficient cross-border distribution structures, cross-border services, cross-border transfer pricing, international asset transfers, and tax optimal corporate structures, as well as acquisitions and dispositions.
- Handle controversy matters for multinational companies regarding, among others, the determination of appropriate transfer prices for the sale of goods, distribution, and contract manufacturing arrangements; the allocation of royalties under Section 482; the allocation of expenses under Section 482; cost sharing arrangements; method of accounting issues; the allowance of worthless stock and bad debt deductions with respect to domestic and foreign subsidiaries; the computation of foreign currency gains and losses; the computation of foreign tax and research and experimentation credits; the sourcing of income; and valuation matters.
- Counsel multinational companies on bi-lateral APAs, including obtaining APA adopting novel methodology for the industry.
- Counsel multinational companies on competent authority proceedings for various issues in several countries.
- Recently closed consecutive cycles of no-change audits for multinational consumer products company.
- Obtained full concession at IRS Appeals on royalty issue.
- Successfully resolved at IRS Appeals valuation issue.
- Counsel multinational companies on worldwide distribution arrangements and trading structures and provision of cross- border services and leasing activities.
- Counsel multinational corporations on the outbound transfers of tangible and intangible assets and the establishment of cost sharing arrangements.
- Represent client in Tax Court litigation on method of accounting issues.
- Represent client in Tax Court litigation on deductibility of payments made to a trust.
- Represented clients in Tax Court litigation regarding consequences of variable prepaid forward contract.
- Represented clients in Tax Court litigation regarding allowance of deductions for bad debt expenses, reporting of cancelation of indebtedness income, constructive dividends issue, and penalties.
- Represented client in litigation regarding the computation of interest on a refund claim.
- Represented clients in Tax Court litigation regarding allowance of deductions for bad debt expenses, reporting of cancelation of indebtedness income, constructive dividends issue, and penalties.
- Represented client in litigation regarding the computation of interest on a refund claim.
Pro Bono
- Provide advice to non-profit foundations regarding tax-exempt status.
- Represented taxpayer seeking innocent spouse relief.
- Represented taxpayer in offer-in-compromise proceeding.
- National Federation of Independent Business v. Sebelius (U.S. Supreme Court 2012). On brief for Court-appointed amicus curiae on the question whether constitutional challenges to the minimum coverage provisions of the Affordable Health Care Act were temporarily barred by the Anti-Injunction Act.
- Represented non-profit organization in resolving controversy regarding employment taxes.
- Provided tax advice regarding proceeds of settlement with the District of Columbia arising out of the violation of civil rights.
- Advised non-profit organization regarding requirements for maintaining tax-exempt status.
Memberships and Affiliations
- Vice Chair, Continuing Legal Education Committee, ABA Tax Section (2012-present)
- Appointments to the Tax Court Committee, ABA Tax Section (2014-present)
- Taxes Committee, International Bar Association (2007-present)
- ABA Tax Section (2006-present)
- ABA Tax Section, Special Assistant to the Vice Chair, Government Relations (2006-2007)
- The J. Edgar Murdock American Inn of Court (2011-present)
Navigating Tax Treaties: Getting and Keeping Treaty Benefits in Uncertain Times
November 3, 2014, Panelist at Tax Executives Institute 2014 Annual Conference
Global Trends — Recent Experience in Tax Audits
October 22, 2014, Co-Chair of Panel at the Annual International Bar Association Conference in Tokyo, Japan
Fear of flying or just worried about your co-pilot? Working cross border and in association with lawyers from other jurisdictions
October 21, 2014, Panelist at the Annual International Bar Association Conference in Tokyo, Japan
Treaties: A New Balance? Have Governments Become More Focused on Preventing Fiscal Evasion than Avoiding Double Taxation?
June 6, 2014, Co-Chair of Panel at the 7th Annual U.S.-Latin America Tax Planning Strategies
Do I Need an Expert?
May 22, 2014, Panelist at Tax Executives Institute IRS Audits and Appeals Conference
March 25, 2014, Inside Compensation
Earlier today, the Supreme Court issued its opinion in United States v. Quality Stores. The opinion, authored by Justice Kennedy, reverses the Sixth Circuit and concludes that the supplemental unemployment benefit payments (or “SUB” payments) at issue in the case are subject to tax under the Federal Insurance Contribution Act (“FICA”). The Government has ...
Aggressive Enforcement in Emerging Markets and the US
March 13, 2014, Chair of Panel at the Covington Retreat for International Tax Executives
Global Trends in Tax Policy and Compliance
March 13, 2014, Panelist at the Covington Retreat for International Tax Executives
Cutting Your Losses: Where Did All My NOLs go?
October 10, 2013, Co-Chair of Panel at the Annual International Bar Association Conference in Boston, USA
Trends in Interpretation and Application of Double Taxation Treaties in Latin America
June 14, 2013, Co-Chair of Panel at the 6th Annual U.S.-Latin America Tax Planning Strategies
June 3, 2013, Inside Compensation
Last Friday, the government asked the Supreme Court to review the Sixth Circuit’s decision in United States v. Quality Stores. In that decision, the Sixth Circuit sided with taxpayers and concluded that certain severance payments that qualify as supplemental unemployment compensation benefit payments (or “SUB” payments) for federal income tax purposes are not ...
International Planning Workshop
October 18, 2012, Co-Chair of Workshop at the Covington Retreat for International Tax Executives
Treaties as Swords and Shields
October 18, 2012, Panelist at the Covington Retreat for International Tax Executives
Room for Success: Tools for Effective Resolution of Double Taxation Issues
October 18, 2012, Panelist at the Covington Retreat for International Tax Executives
September 8, 2012, Inside Compensation
Today the United States Court of Appeals for the Sixth Circuit sided with taxpayers in affirming the decision of a district court that certain severance payments that qualify as supplemental unemployment compensation benefit payments (or “SUB” payments) for federal income tax purposes are not subject to tax under the Federal Insurance Contribution Act (FICA). ...
September 7, 2012, Covington E-Alert
Transfers of Intellectual Property: Planning for Ownership and Use Within Latin America
June 14, 2012, Co-Chairs of Panel at the 5th Annual U.S.-Latin America Tax Planning Strategies
June 11, 2012
WASHINGTON, DC, June 11, 2012 — Chambers USA recognized 106 individual Covington & Burling lawyers and 46 Covington practice areas in the 2012 Chambers USA: America’s Leading Lawyers for Business guidebook released on June 7, 2012. Many of the 106 Covington lawyers ranked by Chambers USA were recognized in multiple categories, resulting in a total of 131 ...
June 5, 2012, Covington E-Alert
June 2012, International Tax Review
Examination and Appeals
December 2011, Practical Guide to U.S. Transfer Pricing, Third Edition
Anti-avoidance and Anti-abuse
November 2, 2011, Panelist at the Annual International Bar Association Conference in Dubai, United Arab Emirates
Investment Funds: Structuring for Inbound and Outbound Investors
June 16, 2011, Co-Chair of Panel at the 4th Annual U.S.-Latin American Tax Planning Strategies
Of Bears and Campers: Holding Companies and Beneficial Ownership in a Challenging Environment
March 2, 2011, Co-Chair of Panel at the Covington Retreat for International Tax Executives
New Wine, Old Wine Skin: Permanent Establishment in Times of Evolving Business Models
March 2, 2011, Co-Chair of Panel at the Covington Retreat for International Tax Executives
Global Trends and Service Permanent Establishments under Double Tax Conventions
October 7, 2010, Panelist at the Annual International Bar Association Conference in Vancouver, Canada
September 29, 2010, Covington E-Alert
September 15, 2010, The 2010 Conference of the International Bar Association, Vancouver, Canada
July 15, 2010, The 2010 Conference of the International Bar Association, Vancouver, Canada
June 30, 2010, Covington E-Alert
Covington Achieves SCOTUS Success in Pro Bono Case
May 25, 2010
WASHINGTON, DC, May 25, 2010 — Covington & Burling LLP achieved a favorable result for its client in the U.S. Supreme Court in Robertson v. U.S. ex rel. Watson, a case that questioned whether it is constitutional to allow a victim of domestic violence to bring a criminal contempt proceeding for violation of a protective order. Covington’s Robert Long presented ...
The New Private Equity and Corporate Reorganizations in Latin America
May 20, 2010, Co-Chair of Panel at the International Fiscal Association /American Bar Association 3d Annual Conference on U.S. - Latin American Tax Planning Strategies
Tax Audits: You Are Not in Kansas Anymore!
June 19, 2009, Co-Chair of Panel at the International Bar Association/American Bar Association Conference on U.S. - Latin American Tax Planning Strategies
The Resurgence of Arbitration: The Different International Treatments of It, How To Prepare for It, and When It Is Most Useful
March 26, 2009, Presenter at the American Conference Institute's 4th Annual Cross-Industry Forum on Global Transfer Pricing
Preservation of Tax Attributes and Basis Step-up in M&A Transactions
October 15, 2008, Panelist at the Annual International Bar Association Conference in Buenos Aires, Argentina
Covington Promotes 12 Lawyers to the Partnership
10/1/2008
WASHINGTON, DC, October 1, 2008 — Covington & Burling LLP today announced that 12 of its lawyers have been elected to the firm’s partnership. These new partners are resident in four of the firm’s offices and practice in the litigation, corporate/tax, and regulatory fields. Timothy Hester, chair of the firm’s management committee, commented: “These young and ...
Tax Compliance
June 13, 2008, Co-Chair of Panel at the International Bar Association Conference on U.S. – Latin American Tax Planning Strategies
May 13, 2008
Transfer Pricing
May 3, 2007, Panelist at International Bar Association Conference on Tax Aspects of Cross-Border Transactions in Latin American Markets
April 20, 2007, International Bar Association Conference on Tax Aspects of Cross-Border Transactions in Latin American Markets
12/06/2006
WASHINGTON, DC, December 6, 2006 — The Supreme Court handed down a favorable decision in Lopez v. Gonzales, a significant immigration case in which Covington represented the petitioner, Jose Antonio Lopez. The Court's opinion, written by Justice Souter, holds that state drug convictions do not count as "aggravated felonies" for purposes of federal immigration ...
2000, 25 N.C.J. Int'l L and Comm. Reg. 485
- Chambers USA, Tax (2012-2016)
- Legal 500 US, Tax (2012-2016)
- Washington DC Super Lawyer, "Rising Star" (2013-2014)
- Winner of Scholarship by Taxation Committee of the International Bar Association to Attend the 2008 IBA Annual Conference based on paper that analyzed new arbitration procedures contained in certain tax treaties and the OECD model treaty entitled Avoiding Double Taxation Through Binding Arbitration: A Comparative Review (5/19/2008).
Practices
Education
University of North Carolina School of Law, J.D., 2000
- with highest honors
- Order of the Coif
- North Carolina Law Review, Article Editor
Palm Beach Atlantic College, B.A., 1997
- summa cum laude
Judicial Clerkship
- Hon. Clarence Thomas, U.S. Supreme Court, 2002 - 2003
- Hon. Karen LeCraft Henderson, U.S. Court of Appeals, District of Columbia Circuit, 2000 - 2001
Bar Admissions
- District of Columbia
- New York
Languages
- Albanian
- Italian