The essay should show an understanding of basic strategies which create a tax advantage through the different tax treatments of interest and dividends especially the term "double non-taxation". Show knowledge of more sophisticated tax planning with hybrid financial instruments, make appropriate use of examples which may necessarily not be original, make reference to the importance of check the box in planning involving the US, changes needed by OECD member countries in their domestic tax and commercial law to achieve action 2, amendments that could be made to bilateral tax treaties to help achieve action 2, possibility of using a multilateral instrument and possible use of formula apportionment.