Uncertainty In Transfer Pricing Tax Rules
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Uncertainty In Transfer Pricing Tax Rules
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Author : Helen Rogers (Ph.D.)
language : en
Publisher:
Release Date : 2009
Uncertainty In Transfer Pricing Tax Rules written by Helen Rogers (Ph.D.) and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with categories.
Uncertainty In Transfer Pricing Tax Rules
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Author : Helen Rogers
language : en
Publisher:
Release Date : 2009
Uncertainty In Transfer Pricing Tax Rules written by Helen Rogers and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with categories.
Transfer pricing is an important issue for transnational enterprises (TNEs) seeking to comply with the different, inconsistent, tax rules of different nation states. The objective of this research is to examine the emergence of transfer pricing practice after the introduction of new tax rules in the US and the UK from the mid-1990s onwards and the issuing of the transnational OECD Transfer Pricing Guidelines in 1995. These rules require the use of the arm?s length principle, which is very broad, giving rise to considerable uncertainty as to how it should be interpreted, complied with and applied. These rules also include provision for Advance Pricing Agreements (APAs). An APA is a mechanism to provide certainty in advance of the appropriate application of the general arm?s length principle so that the relevant transfer prices will not be challenged by the tax authorities. As part of this research the APA procedure was focussed, on seeking to gain an insight into the operation of the relatively new APA process between the UK and US. The objective of this research is to gain a deeper understanding of this practice and consider how practice is helping to construct a common understanding of the rules, and vice versa. This research makes a contribution to the current literature by obtaining and analysing rich interview data from a novel combination of interviewees: elite individuals working in different organisations and different nations in the field of transfer pricing. Through this empirical work an insight is gained into the developing common understanding and practice that supplements the written rules. Building on literature that recognises the indeterminacy and ambiguity of the law and the way in which law and compliance is socially constructed, elements of the elite?s common understanding and some of the ways in which this then evolves into accepted practice are analysed, with particular reference to the APA process. The interview data indicates that in practice there is a high level of discretion, the extent of which cannot be discerned from the written rules and agreements. However, the written rules act as a form of constraint, so that this discretion is not unfettered. Also, there is a further theoretical contribution from this thesis. In addition to research on the indeterminacy of law, in seeking to understand the transfer pricing elite, theories of the professions and epistemic communities are drawn on. The application of these different theories concomitantly is new in the transfer pricing literature. The elite is identified as operating as an epistemic, trans-professional transnational community. Abbott?s (1988) theory of professions, with its emphasis on the importance of abstract knowledge, such as ambiguous transfer pricing rules, and control of that knowledge system, is extended, by identifying and analysing the use this epistemic community makes of control of the outputs of the knowledge system: privileged, bespoke agreements.
Transfer Pricing And Corporate Taxation
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Author : Elizabeth King
language : en
Publisher: Springer Science & Business Media
Release Date : 2008-10-11
Transfer Pricing And Corporate Taxation written by Elizabeth King and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-10-11 with Business & Economics categories.
National tax authorities individually determine multinational ?rms’ country-speci?c tax liabilities by applying one or more sanctioned transfer pricing methodologies. These methodologies are founded on basic assumptions about market structure and ?rm behavior that are rarely empirically valid. Moreover, for the most part, the transfer pricing methodologies now in vogue were developed before the Internet became a dominant factor in the world economy, and hedge and private equity funds transformed ?nancial and commodities markets. For these reasons, multinational ?rms are unable to accurately anticipate their tax liabilities in individual countries, and remain at risk of double taxation. Uncertainties in corporate tax liability are extremely costly, both for individual corporations and from an economy-wide perspective. Firms pay exorbitant fees to have tax attorneys, accountants and economists prepare the documentation required by tax authorities to substantiate their intercompany pricing practices and defend their tax positions on audit. Corporate tax liabilities are also potentially much higher than they would be under a more transparent and predictable transfer pricing regime (due to the potential for double taxation and penalties), and investors’ returns are reduced accordingly. The FASB’s Interpretation No. 48, Accounting for Uncertainty in Income Taxes (released on July 13, 2006), has motivated multinational ?rms to increase their reserves substantially (in many cases at the insistence of their au- tors), reducing the total funds available for productive investment. 1 The current transfer pricing regimes are embodied in the OECD Guidelines, individual OECD member countries’ interpretations thereof, the U. S.
Transfer Pricing Answer Book
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Author : David B. Blair
language : en
Publisher:
Release Date : 2017-05-07
Transfer Pricing Answer Book written by David B. Blair and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-05-07 with Double taxation categories.
The phenomena of increasingly global business enterprises with valuable intangible property expose companies to transfer pricing enforcement by different countries around the world. Many of these countries are increasingly aggressive in enforcing their local transfer pricing rules, as they attempt to protect their tax revenue base. To avoid double taxation of the same income in this environment, companies often are required to deal with the highly specialized, bilateral treaty-based competent authority process developed to prevent double taxation at a time when trade mainly involved only two established countries. Even more challenging today, companies and tax authorities increasingly are faced with the potential for multiple taxation of the same income, as supply chains cross many borders and as the tax authorities of emerging countries become players in the global taxation process, and the resulting stresses, strains, and limitations of the bilateral treaty-based competent authority process have become more apparent. In light of the high-dollar risks presented by the increased enforcement efforts of tax authorities worldwide, the complexity of the ever-changing, inherently uncertain transfer pricing standards, and the continually evolving business models of businesses adapting to the constantly changing global economy, companies need practical guidance to permit them to develop and defend their transfer pricing strategies. Transfer Pricing Answer Book gives companies such guidance by discussing all aspects of transfer pricing, from initially planning a transfer pricing strategy, to alternative ways to defend the strategy from attack by two or more tax authorities, to resolving a case before competent authorities, to bringing a transfer pricing case to court. The book's non-technical discussion is presented in a question and answer format that will appeal to readers regardless of their prior level of experience or familiarity with taxes in general and transfer pricing in particular. Transfer Pricing Answer Book is an invaluable resource for company executives and their advisors who are seeking to better understand this important area of tax law that has become such an important economic facet of so many businesses.
Transfer Pricing Answer Book 2014
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Author : David B. Blair
language : en
Publisher:
Release Date : 2014-06-07
Transfer Pricing Answer Book 2014 written by David B. Blair and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-06-07 with Double taxation categories.
The phenomena of increasingly global business enterprises with valuable intangible property expose companies to transfer pricing enforcement by different countries around the world. Many of these countries are increasingly aggressive in enforcing their local transfer pricing rules, as they attempt to protect their tax revenue base. To avoid double taxation of the same income in this environment, companies often are required to deal with the highly specialized, bilateral treaty-based competent authority process developed to prevent double taxation at a time when trade mainly involved only two established countries. Even more challenging today, companies and tax authorities increasingly are faced with the potential for multiple taxation of the same income, as supply chains cross many borders and as the tax authorities of emerging countries become players in the global taxation process, and the resulting stresses, strains, and limitations of the bilateral treaty-based competent authority process have become more apparent. In light of the high-dollar risks presented by the increased enforcement efforts of tax authorities worldwide, the complexity of the ever-changing, inherently uncertain transfer pricing standards, and the continually evolving business models of businesses adapting to the constantly changing global economy, companies need practical guidance to permit them to develop and defend their transfer pricing strategies. Transfer Pricing Answer Book 2013 gives companies such guidance by discussing all aspects of transfer pricing, from initially planning a transfer pricing strategy, to alternative ways to defend the strategy from attack by two or more tax authorities, to resolving a case before competent authorities, to bringing a transfer pricing case to court. The book's non-technical discussion is presented in a question and answer format that will appeal to readers regardless of their prior level of experience or familiarity with taxes in general and transfer pricing in particular. Transfer Pricing Answer Book 2013 is an invaluable resource for company executives and their advisors who are seeking to better understand this important area of tax law that has become such an important economic facet of so many businesses
Empirical Study Of Transfer Pricing And The Intangibles
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Author : Emmanuel Shola Ayeni
language : en
Publisher:
Release Date : 2018-08-19
Empirical Study Of Transfer Pricing And The Intangibles written by Emmanuel Shola Ayeni and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-08-19 with categories.
Transfer pricing is an ancient phenomenon with far more consequence in today's business environment. A significant volume of global trade nowadays consists of international transfers of tangibles: goods and services, capital (such as money) and intangibles (such as intellectual property) within an MNE group; such transfers are called "intra-group" transactions which continued to grow exponentially in all international transactions. When these transfers take place, the values of those transfers become significant both to the MNEs and various tax authorities. For tangible goods and services, the values are easily ascertainable and thus, making the transfer pricing methodology less arduous and the framework easily acceptable between the stakeholders. For intangibles, however, the valuation is more complex and the difficulties attendant to transfer pricing are more contentious. It is against this backdrop that this book examines the complexity of transfer pricing of intangibles and the attendant difficulties of the methodology to determining the arm's length principle of any transaction involving intangible assets. This study is an attempt to find ways to placate the frictions between tax authorities and multinational enterprises (MNEs) that Transfer Pricing of intangibles often brings. The objectives of this study are four-fold. First, it compares case laws from the United States and selected jurisdictions - - the United Kingdom, Australia, New Zealand, Italy, and Germany to identify the disparities and similarities of legal opinions on Transfer Pricing of intangibles. Second, it identifies any uniformity in the judicial interpretation of arm's length pricing of intangible assets. Third, it examines the focus of conflicts between tax authorities and multinational enterprises. Fourth, it explores any existing legal solutions that may help placate, or altogether, avoid the frictions between the stakeholders while formulating alternative dispute resolutions. The book provides empirical evidence of Transfer Pricing practices and the attendant difficulties by comparing the judicial review of the conflicts between the stakeholders in the United States, United Kingdom, Australia, Italy, and Germany to show the relative effectiveness, or lack thereof, of judicial intervention. Specifically, the book underscores the judicial uncertainty in the resolution of transfer pricing issue relating to intangibles and explores the use of augmented APAs as alternative resolution of Transfer Pricing issues between the stakeholders.
Transfer Pricing Answer Book 2018 Edition
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Author : David Blair
language : en
Publisher:
Release Date : 2018-05
Transfer Pricing Answer Book 2018 Edition written by David Blair and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-05 with Double taxation categories.
The phenomena of increasingly global business enterprises with valuable intangible property expose companies to transfer pricing enforcement by different countries around the world. Many of these countries are increasingly aggressive in enforcing their local transfer pricing rules, as they attempt to protect their tax revenue base. To avoid double taxation of the same income in this environment, companies often are required to deal with the highly specialized, bilateral treaty-based competent authority process developed to prevent double taxation at a time when trade mainly involved only two established countries. Even more challenging today, companies and tax authorities increasingly are faced with the potential for multiple taxation of the same income, as supply chains cross many borders and as the tax authorities of emerging countries become players in the global taxation process, and the resulting stresses, strains, and limitations of the bilateral treaty-based competent authority process have become more apparent.In light of the high-dollar risks presented by the increased enforcement efforts of tax authorities worldwide, the complexity of the ever-changing, inherently uncertain transfer pricing standards, and the continually evolving business models of businesses adapting to the constantly changing global economy, companies need practical guidance to permit them to develop and defend their transfer pricing strategies.Transfer Pricing Answer Book gives companies such guidance by discussing all aspects of transfer pricing, from initially planning a transfer pricing strategy, to alternative ways to defend the strategy from attack by two or more tax authorities, to resolving a case before competent authorities, to bringing a transfer pricing case to court. It also provides an overview of the IRS's approach to transfer pricing enforcement. The book's non-technical discussion is presented in a question-and-answer format that will appeal to readers regardless of their prior level of experience or familiarity with taxes in general and transfer pricing in particular.Transfer Pricing Answer Book is an invaluable resource for company executives and their advisors who are seeking to better understand this important area of tax law that has become such an important economic facet of so many businesses.
Empirical Study Of Transfer Pricing And The Intangibles
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Author : Emmanuel Shola Ayeni Ph D
language : en
Publisher:
Release Date : 2020-09-12
Empirical Study Of Transfer Pricing And The Intangibles written by Emmanuel Shola Ayeni Ph D and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-09-12 with categories.
Transfer pricing is an ancient phenomenon with far more consequence in today's business environment. A significant volume of global trade nowadays consists of international transfers of tangibles: goods and services, capital (such as money) and intangibles (such as intellectual property) within an MNE group; such transfers are called "intra-group" transactions which continued to grow exponentially in all international transactions. When these transfers take place, the values of those transfers become significant both to the MNEs and various tax authorities. For tangible goods and services, the values are easily ascertainable and thus, making the transfer pricing methodology less arduous and the framework easily acceptable between the stakeholders. For intangibles, however, the valuation is more complex and the difficulties attendant to transfer pricing are more contentious. It is against this backdrop that this book examines the complexity of transfer pricing of intangibles and the attendant difficulties of the methodology to determining the arm's length principle of any transaction involving intangible assets. This study is an attempt to find ways to placate the frictions between tax authorities and multinational enterprises (MNEs) that Transfer Pricing of intangibles often brings. The objectives of this study are four-fold. First, it compares case laws from the United States and selected jurisdictions - - the United Kingdom, Australia, New Zealand, Italy, and Germany to identify the disparities and similarities of legal opinions on Transfer Pricing of intangibles. Second, it identifies any uniformity in the judicial interpretation of arm's length pricing of intangible assets. Third, it examines the focus of conflicts between tax authorities and multinational enterprises. Fourth, it explores any existing legal solutions that may help placate, or altogether, avoid the frictions between the stakeholders while formulating alternative dispute resolutions. The book provides empirical evidence of Transfer Pricing practices and the attendant difficulties by comparing the judicial review of the conflicts between the stakeholders in the United States, United Kingdom, Australia, Italy, and Germany to show the relative effectiveness, or lack thereof, of judicial intervention. Specifically, the book underscores the judicial uncertainty in the resolution of transfer pricing issue relating to intangibles and explores the use of augmented APAs as alternative resolution of Transfer Pricing issues between the stakeholders.
The Future Of The Profit Split Method
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Author : Gabriella Cappelleri
language : en
Publisher: Kluwer Law International B.V.
Release Date : 2020-11-23
The Future Of The Profit Split Method written by Gabriella Cappelleri and has been published by Kluwer Law International B.V. this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-11-23 with Law categories.
The Future of the Profit Split Method Edited by Robert Danon, Guglielmo Maisto, Vikram Chand & Gabriella Cappelleri Among the various transfer pricing methods, the profit split method (PSM) is under the spotlight after the OECD’s Base Erosion and Profit Shifting (BEPS) project. However, both expert analysis and experience indicate that this method is not straightforward either for taxpayers to apply or for tax administrations to evaluate. In this thorough and detailed commentary – the first book to analyse this increasingly adopted transfer pricing method – notable scholars and practitioners working in the international tax community express their views on the method, answering some unresolved questions and highlighting issues that are still open and pending, especially in light of the digitalization of the economy. Crucial issues covered by the contributors include the following: choice of the appropriate splitting factors, their relative weights, and valuation of the contributions; uncertainties and outcomes potentially not aligned with the arm’s-length standard; possible role of assessments made by the European Commission on State aid; nexus with the work done by the EU Joint Transfer Pricing Forum; impact of profit split on indirect taxes (VAT/customs tax/excise tax); and application to digital business models and, in general, to the digitalized economy. Moreover, relevant experience of applying this method in France, Germany, Italy, Spain, Switzerland, the United Kingdom, and the United States is provided. A concluding chapter also deals with selected industry experiences. Due to a high level of uncertainty in alignment with international guidance in the application of the PSM – and to the underdeveloped nature of current literature on the subject – there is a need for this book because both tax administrations and taxpayers, going forward, will apply the PSM extensively. The book is highly relevant for policymakers, tax administrations, practitioners and academics engaged in the areas of international taxation, transfer pricing and tax policy.
Transfer Pricing And Transactions Between Foreign Entities
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Author : B. Beswick
language : en
Publisher:
Release Date : 2019
Transfer Pricing And Transactions Between Foreign Entities written by B. Beswick and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
The application of Canadian transfer-pricing rules to transactions with and between foreign affiliates remains uncertain, particularly in light of certain recent Canada Revenue Agency administrative positions. Such uncertainty creates significant transactional and reporting risks for multinational enterprises. The purpose of this article is to examine one particular area of uncertainty - the proper application of Canadian transfer-pricing rules to a transaction between foreign entities. The author concludes that Canada's transfer-pricing rules do not apply to a transaction between two foreign entities except to the extent that one or both entities come within the charging provisions in the Income Tax Act, and further concludes that this limitation on the application of the transfer-pricing rules is appropriate from a policy perspective.