Americas Tax Center – Serving Clients across Borders

Americas Tax Center  pic

Americas Tax Center

Having served in three U.S. administrations as a Treasury Department official, Michael Mundaca received the agency’s Alexander Hamilton Award upon completing his most recent tenure, as assistant treasury secretary for tax policy. Since 2011, Michael Mundaca has been a principal at Ernst & Young, (EY) LLP, serving as co-director of both the EY National Tax Department and the EY Americas Tax Center. The EY Americas Tax Center (ATC) is a platform that links the tax practices in EY’s 33 member firms across the Americas, providing cross-border technical capability and an enhanced level of service to clients with operations throughout the Americas and the world.

The ATC serves the ever-changing needs of businesses facing tax planning and administrative challenges. One of the group’s primary focuses is tax policy, enabling it to help clients remain abreast of upcoming tax trends and planned changes to current tax law. The ATC can also help its clients implement more effective risk management strategies. Other ATC services include tax controversy, global compliance and reporting, tax effective supply chain management, and customs and value added tax consulting.


University of California at Berkeley’s JD Program


University of California at Berkeley pic

University of California at Berkeley

Before becoming a tax professional and working as assistant treasury secretary for the United States Treasury Department, Michael Mundaca attended the University of Chicago where he earned a master of arts in philosophy. Michael Mundaca also attended the University of California at Berkeley’s law school where he earned his juris doctor. While Michael was at Berkeley, he was selected to the Order of the Coif, an honorary scholastic society the purpose of which is to encourage excellence in legal education, and served as Senior Executive Editor of the California Law Review.

Founded in 1912 as the School of Jurisprudence, Berkeley Law offers a wide variety of programs for students who are interested in studying the law. For those who desire to pursue a career in the legal profession, Berkeley Law features a JD program that helps to prepare students to pass the bar exam.

One of the premier law schools in the country, the JD program at Berkeley Law accepts about one applicant for every ten that apply. The program’s curriculum for first year students includes subjects, such as torts, property laws, contracts, and civil procedures.

The US Treasury Department’s Prestigious Alexander Hamilton Award

Alexander Hamilton Awardpic

Alexander Hamilton Award

Michael Mundaca is co-director of the Americas Tax Center and the National Tax Department at the global professional services firm EY. Just prior to taking on those roles, Michael Mundaca served in the United States Treasury Department’s Office of Tax Policy, during both the Bush and Obama administrations (and he had previously served during the Clinton Administration). During the Obama administration, he served as the Assistant Treasury Secretary for Tax Policy, at the appointment of the President, advising Treasury Secretary Tim Geithner on all matters relating to tax policy and representing the United States in various international forums, including the Organisation for Economic Co-operation and Development. Upon leaving the Treasury Department in 2011, Michael Mundaca received the Alexander Hamilton Award.

The Treasury’s Alexander Hamilton Award is the highest honor bestowed by the department. Established in 1955, the award is conferred not by nomination or vote but rather is chosen personally by the secretary of the Treasury.

Nicaraguan Transfer Pricing Rules Take Effect

Michael Mundaca

Michael Mundaca

A former assistant treasury secretary for tax policy with the US Treasury Department, Michael Mundaca now serves as Ernst & Young’s (EY) co-director of the Americas Tax Center and National Tax Department. In those roles, Michael Mundaca provides client-driven services that focus on US and international taxation rules and developments.

A recent EY Global Tax Alert drew focus to Nicaraguan transfer pricing rules, which went into effect in late June 2017. Enacted as law by the Nicaraguan Congress in 2012, the rules were intended to go into effect four years later (entry into force was later delayed an additional year).

Transfer pricing comes into play when company divisions transact with one another and are measured and treated as entities that are independently run. The newly implemented Nicaraguan rules require the preparation of transfer pricing documentation each year and incorporate the arm’s-length principle. They also set forth transfer pricing methods employed when applying the arm’s-length principle, as well as criteria that taxpayers must adhere to when undertaking a comparability analysis.