Practical Guide to U.S. Transfer Pricing, 3rd Edition

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Practical Guide to U.S. Transfer Pricing, 3rd Edition

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Transfer pricing rules are an inescapable part of doing business internationally. This third edition of Practical Guide to U.S. Transfer Pricing is designed to help multinationals cope with the U.S. transfer pricing rules and procedures, taking into account the international norms established by the Organisation for Economic Co-operation and Development (the "OECD"). It is also designed for use by tax administrators, both those belonging to the U.S. Internal Revenue Service and those belonging to the tax administrations of other countries, and tax professionals in and out of government, corporate executives, and their non-tax advisors, both American and foreign.

The U.S. rules are presented along with ideas on how to apply them in a common-sense fashion in a multi-jurisdictional world.

Highlights of the new U.S. developments include coverage of the following:
- Analysis of the many changes in the rules for intangibles since the 1994 Regulations and the effect of VERITAS Software Corp. v. Commissioner on the Comparable Uncontrolled Transaction (CUT) method.
- A summary of the July 2010 revision of the OECD Transfer Pricing Guidelines and guidance for restructuring transactions.
- Cost sharing material has been updated in light of recent court decisions in Xilinx v. Commissioner and VERITAS Software Corp. v. Commissioner.
- Analysis of the more receptive approach of U.S. Immigration and Customs Enforcement to transfer pricing documentation and advance pricing agreements.
- The progress on mandatory arbitration, the new statistics, and the reorganization of the Competent Authority function.
- The many changes in IRS examination procedures.
CHAPTER 1: Overview of Transfer Pricing
CHAPTER 2: Framework for U.S. Transfer Pricing Analysis Under Treasury Regulation Section 1.482-1
CHAPTER 3: Determination of Related Person Status
CHAPTER 4: Finding and Selecting Comparables
CHAPTER 5: Comparable Uncontrolled Price (CUP) Method
CHAPTER 6: Resale Price Method (RPM) and Alternatives to Traditional Buy-Sell Distributors
CHAPTER 7: Cost Plus Method and Location Savings
CHAPTER 8: Transfer Pricing Rules and Methods for Intangible Property
CHAPTER 9: Comparable Profits Method
CHAPTER 10: Profit Split Methods
CHAPTER 11: Unspecified Methods
CHAPTER 12: Functional Analysis and Choosing the Best Method
CHAPTER 13: Cost Sharing Arrangements
CHAPTER 14: Transfer Pricing for Services Under the 1968 and 2009 Treasury Regulations
CHAPTER 15: Determining Arm's Length Interest and Rent
CHAPTER 16: Financial Industry Transfer Pricing Issues
CHAPTER 17: Second-Level Effects of Transfer Pricing Adjustments
CHAPTER 18: Documented Self-Compliance and Transfer Pricing Penalties
CHAPTER 19: Advance Pricing Agreements (APAs)
CHAPTER 20: IRC Sections 6038A and 6038C: Record-Keeping, Record Production, and Reporting for Foreign-Owned Groups
CHAPTER 21: Examination and Appeals
CHAPTER 22: Competent Authority to Avoid Double or Excessive Taxation From Transfer Pricing Adjustments
CHAPTER 23: Transfer Pricing Litigation
CHAPTER 24: Relationship of Section 482 to Other Code Sections
CHAPTER 25: Transfer Pricing Effects of Customs Actions and Customs Effects of Transfer Pricing Actions
CHAPTER 26: State Tax Transfer Pricing Issues
CHAPTER 27: International Strategy for Transfer Pricing Compliance: A Checklist for Multinationals
CHAPTER 28: Transfer Pricing Aspects of Business Restructurings and the OECD Discussion Draft
APPENDIX A: Table of Transfer Pricing Acronyms and Definitions
APPENDIX B: Announcement 2010-21, Announcement and Report Concerning Advance Pricing Agreements
APPENDIX C: What Every Member of the Trade Community Should Know About: Determining the Acceptability of Transaction Value for Related Party Transactions (An Informed Compliance Publication (April 2007) from U.S. Customs and Border Protection, U.S. Department of Homeland Security)
Robert T. Cole is a member of Alston & Bird's International Tax Group of which he served as the chair from 1997 through 2000. He concentrates his practice on transfer pricing, tax treaties and other international tax issues for U.S. business operations abroad and foreign business operations in the United State. Mr. Cole served in the U.S. Treasury from 1967 to 1973 and was appointed as the first International Tax Counsel in 1971. He received his LL.B in 1956 from Harvard Law School and his B.S. in 1953 from the Wharton School of Finance, University of Pennsylvania, and an academic postgraduate diploma in law in 1959 from the London School of Economics. He is a member of the Council of the USA branch of the International Fiscal Association; a past vice-chair of the Tax Committee of the National Foreign Trade Council and a member of the Tax Section of the American Bar Association.