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How The Tax Court Can Account For Risk In Medtronic Transfer Pricing
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Book Synopsis How the Tax Court Can Account for Risk in Medtronic Transfer Pricing by : D.G. Chamberlain
Download or read book How the Tax Court Can Account for Risk in Medtronic Transfer Pricing written by D.G. Chamberlain and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In this article, the author explores how the Tax Court, on remand in Medtronic, can address the challenge of determining arm's-length transfer prices when one of the related parties bears substantial risk but owns no valuable intangible property.
Book Synopsis Eighth Circuit Skeptical of Medtronic's CUT Analysis, Vacates Tax Court Decision by : D.G. Chamberlain
Download or read book Eighth Circuit Skeptical of Medtronic's CUT Analysis, Vacates Tax Court Decision written by D.G. Chamberlain and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: On 16 August 2018, in a 3-0 decision, the Eighth Circuit overturned the Tax Court's June 2016 decision in the dispute between the Internal Revenue Service (IRS) and Medtronic, Inc. concerning the transfer pricing treatment of an intercompany licensing arrangement and remanded the case for further consideration. This is a rare victory for the IRS in a transfer pricing case. Could it herald a reversal of the IRS's long string of losses? This article briefly describes the original Tax Court case and the Eighth Circuit opinion; discusses the importance of the opinion to transfer pricing law and practice; addresses how the proper resolution of the case would better reflect the functions, assets and risks of the parties; and suggests an alternative analysis that would address flaws in the analyses of both the Tax Court and the IRS.
Book Synopsis Back to the Future? Medtronic and the Future of Transfer Pricing by : R.S. Avi-Yonah
Download or read book Back to the Future? Medtronic and the Future of Transfer Pricing written by R.S. Avi-Yonah and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The recent decision of the Tax Court in Medtronic is a milestone. It is the first full-fledged application of the 1995 transfer pricing regulations to reach a final court determination. Recent transfer pricing cases such as Veritas, Xilinx and Altera focused on cost sharing, which is an important technique to shift profits out of the United States but does not directly implicate comparability under the arm's-length standard (ALS). Prior to Medtronic, transfer pricing cases involving comparability were either based on pre-1995 regulations (e.g., Sundstrand and Seagfate) or were settled without a final court opinion (e.g., Glaxo). Thus, Medtronic is an important indication of where transfer pricing stands now. What is remarkable about Medtronic, however, is how familiar it seems to anyone who knows about transfer pricing case law prior to 1995. Both the facts and the outcome are quite similar to a series of cases involving Puerto Rico affiliates of U.S. multinationals from the 1980s. But these cases led Congress to amend Code Sec. 482 for the only time in its long history to add the "commensurate with income" (super-royalty) standard, which was supposed to prevent precisely this kind of outcome. How could the result be so familiar? This article first goes back to the historical cases preceding the change in Code Sec. 482, then discusses Medtronic, and finally asks what this means for the future of transfer pricing in the age of base erosion and profit shifting (BEPS).
Book Synopsis 'Medtronic V. Commissioner' : a Taxpayer Win on Transfer Pricing, Commensurate with Income, and Section 367 Issues by : M.R. Martin
Download or read book 'Medtronic V. Commissioner' : a Taxpayer Win on Transfer Pricing, Commensurate with Income, and Section 367 Issues written by M.R. Martin and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Commentary on the opinion of 9 June 2016, released by the U.S. Tax Court in Medtronic, Inc. and Consolidated Subsidiaries v. Commissioner case. The Internal Revenue Service had taken issue with the transfer pricing of transactions between Medtronic, Inc. and its Puerto Rican manufacturing arm under Section 482 of the Internal Revenue Code. Finding the IRS's application of the comparable profits method (CPM) to the transactions arbitrary and capricious, and taking issue as well with the taxpayer's comparable uncontrolled transaction (CUT) methodology, the court ultimately made its own decision as to arm's-length pricing, arriving at new allocations by making adjustments to the taxpayer's original CUT approach.
Book Synopsis Transfer Pricing Survival Guide by : Oliver Treidler
Download or read book Transfer Pricing Survival Guide written by Oliver Treidler and published by BoD – Books on Demand. This book was released on 2023-03-28 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: Transfer Pricing is an issue that has material implications for tax risks faced by MNEs. Yet, pragmatic guidance on identifying and managing transfer pricing risk is lacking. Consequently, CFOs and other stakeholders tend to underestimate risks while overestimating the costs for mitigating such risks. The first objective of the Survival Guide is to shed light on typical transfer pricing risks and provide an intuitive "risk matrix" that is designed to help CFOs as well as tax advisors to develop a quantitative understanding of the relevant risks. The second objective is to outline targeted mitigation strategies. The mitigation strategies outlined in the Survival Guide are based on pragmatic considerations rather than complex analysis. The aim is to provide you with concise explanations and help you to differentiate between tasks that are considered a "must" for mitigation purposes and those that can be regarded as merely "nice to have" The immediate utilization of the Survival Guide is as a frame of reference for making informed decisions about the scope and target of your transfer pricing projects. The Survival Guide presents a framework for thinking about transfer pricing risk that will also benefit tax professionals as well as academics with an interest in understanding the nature of transfer pricing risks.
Book Synopsis Transfer Pricing Developments Around the World 2022 by : Michael Lang
Download or read book Transfer Pricing Developments Around the World 2022 written by Michael Lang and published by Kluwer Law International B.V.. This book was released on 2022-10-11 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: Intensive work on transfer pricing, one of the most relevant and challenging topics in the international tax environment, continues to increase worldwide at every level of government and international policy with a far-reaching impact on countries’ legislations, administrative guidelines, and jurisprudence. This book presents an in-depth, issue-by-issue analysis of the current state of developments along with suggestions for future solutions to the problems raised. Emerging from the research conducted by the WU Transfer Pricing Center at the Institute for Austrian and International Tax Law at WU (Vienna University of Economics and Business), this book offers eight topic-based chapters prepared by international experts on transfer pricing. Greatly helping to define recent transfer pricing issues around the world, this book encompasses the following topics: Global Transfer Pricing Developments. Transfer Pricing Developments in the European Union. Transfer Pricing Developments in the United States. Transfer Pricing Developments in Developing Countries and Emerging Economies. Recent Developments on Transfer Pricing in the Post-Covid-19 Era. Recent Developments on Transfer Pricing and Substance. Recent Developments on Transfer Pricing and Business Restructurings. Recent Developments on Transfer Pricing and New Technologies. The intense work of international organizations such as the OECD, UN, and other international organizations, as well as the intense work of the EU, is thoroughly analyzed in this book. The detailed analysis will be of immeasurable value to the various players, including international organizations, the business community and advisory firms, corporate CEOs and CFOs, and government officials as well as to tax lawyers, in-house counsel, and interested academics in facilitating efficient dialog and a coordinated approach to transfer pricing in the future.
Book Synopsis OECD/G20 Base Erosion and Profit Shifting Project Aligning Transfer Pricing Outcomes with Value Creation, Actions 8-10 - 2015 Final Reports by : OECD
Download or read book OECD/G20 Base Erosion and Profit Shifting Project Aligning Transfer Pricing Outcomes with Value Creation, Actions 8-10 - 2015 Final Reports written by OECD and published by Org. for Economic Cooperation & Development. This book was released on 2015-10-19 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt: The report contains revisions to the OECD Transfer Pricing Guidelines to align transfer pricing outcomes with value creation. The revised guidance focuses on the following key areas: transfer pricing issues relating to transactions involving intangibles; contractual arrangements, including the contractual allocation of risks and corresponding profits, which are not supported by the activities actually carried out; the level of return to funding provided by a capital-rich MNE group member, where that return does not correspond to the level of activity undertaken by the funding company; and other high-risk areas. The report also sets out follow-up work to be carried out on the transactional profit split method which will lead to detailed guidance on the ways in which this method can appropriately be applied to further align transfer pricing outcomes with value creation.
Book Synopsis Licensing Royalty Rates, 2019 Edition (IL) by : Battersby, Grimes
Download or read book Licensing Royalty Rates, 2019 Edition (IL) written by Battersby, Grimes and published by Wolters Kluwer. This book was released on 2018-12-19 with total page 562 pages. Available in PDF, EPUB and Kindle. Book excerpt: This valuable reference presents the "going" royalty rate for virtually any product, including over 1,500 products and services in ten lucrative categories--art, celebrity, character and entertainment, collegiate, corporate, designer, event, sports, nonprofit and music. The essential reference for both beginning and more experienced licensing professionals. Knowing the "going" royalty rate for virtually any product is as simple as reaching for the newly published Licensing Royalty Rates, 2019 Edition . Setting a royalty rate too high can scare away potential licensees, while accepting a lower rate can cost licensors hundreds of thousands of dollars. Licensing Royalty Rates, 2019 Edition provides all the information you need to calculate the right rate every time. The data in Licensing Royalty Rates is compiled using information from the U.S. Patent and Trademark Office. After careful review by a blue-ribbon panel of expert licensing consultants uniquely qualified to know what the appropriate rate range is for specific properties in each licensing category, the information is organized into four time-saving sections that give researchers fast access to comprehensive statistical and analytical data: Royalty rate listing alphabetically by licensed product --provides a detailed alphabetical listing of products and their suggested rate range across all product categories. Royalty rate listing by international trademark class--lets you quickly identify subtle royalty rate differences between similar products within specific international trademark classes. Checklist of licensed products and services--offers a quick-reference to products with a high potential for licensing. Comprehensive list of licensed products and services--presents a detailed list of all surveyed products and services within a trademark class for preparing intent-to-use trademark applications. This detailed information gives both beginning and more experienced licensing professionals the confidence needed to negotiate the maximum allowable rate regardless of the product, the market and the parameters of the specific deal itself. Previous Edition: Licensing Royalty Rates, 2018 Edition, ISBN 9781454885122
Book Synopsis Transfer Pricing Developments Around the World 2019 by : Michael Lang
Download or read book Transfer Pricing Developments Around the World 2019 written by Michael Lang and published by Kluwer Law International B.V.. This book was released on 2019-08-09 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: Intensive work on transfer pricing, one of the most relevant and challenging topics in the international tax environment, continues to increase worldwide at every level of government and international policy with far-reaching impact on countries’ legislations, administrative guidelines and jurisprudence. This book presents an in-depth, issue-by-issue analysis of the current state of developments along with suggestions for future solutions to the problems raised. Emerging from the research conducted by the WU Transfer Pricing Center at the Institute for Austrian and International Tax Law at WU (Vienna University of Economics and Business), this book offers eight topic-based papers prepared by international experts on transfer pricing. Greatly helping to define recent transfer pricing issues around the world, this book encompasses the following topics: Global Transfer Pricing Developments; Transfer Pricing Developments in the European Union; Transfer Pricing Developments in the United States; Transfer Pricing Developments in Developing Countries and Emerging Economies; Recent Developments on Transfer Pricing and Intra-Group Services; Recent Developments on Transfer Pricing and Intra-Group Financing; Recent Developments on the Nexus Rules to Tax Business Profits at Source; and Recent Developments on Attribution of Profits to Digital Permanent Establishments. The intense work of international organizations such as the Organisation for Economic Co-operation and Development, United Nations and other international organizations as well as the intense work of the European Union is thoroughly analyzed in this book. The detailed analysis will be of immeasurable value to the various players including international organizations, the business community and advisory firms, corporate CEOs and CFOs, and government officials as well as to tax lawyers, in-house counsel and academics in facilitating efficient dialogue and a coordinated approach to transfer pricing in the future.
Book Synopsis The Dialectical Path of Law by : Charles Lincoln
Download or read book The Dialectical Path of Law written by Charles Lincoln and published by Rowman & Littlefield. This book was released on 2021-10-13 with total page 285 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book aims to contribute a single idea – a new way to interpret legal decisions in any field of law and in any capacity of interpreting law through a theory called legal dialects. This theory of the dialectical path of law uses the Hegelian dialectic which compares and contrasts two ideas, showing how they are concurrently the same but separate, without the original ideas losing their inherent and distinctive properties – what in Hegelian terms is referred to as the sublation. To demonstrate this theory, Lincoln takes different aspects of international tax law and corporate law, two fields that seem entirely contradictory, and shows how they are similar without disregarding their key theoretical properties. Primarily focusing on the technical rules of the Organisation for Economic Co-operation and Development (OECD) approach to international tax law and the United States approach to tax law, Lincoln shows that both engage in the Hegelian dialectical approach to law.
Book Synopsis Tax Treaty Case Law around the Globe 2017 by : Michael Lang
Download or read book Tax Treaty Case Law around the Globe 2017 written by Michael Lang and published by Linde Verlag GmbH. This book was released on 2018-02-20 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a unique publication that gives a global overview of international tax disputes on double tax conventions and thereby fills a gap in the area of tax treaty case law. It covers the forty-one most important tax treaty cases which were decided in 2016 around the world.
Book Synopsis Transfer Pricing Developments Around the World 2018 by : Michael Lang
Download or read book Transfer Pricing Developments Around the World 2018 written by Michael Lang and published by Kluwer Law International B.V.. This book was released on 2018-08-21 with total page 295 pages. Available in PDF, EPUB and Kindle. Book excerpt: Intensive work on transfer pricing, one of the most relevant and challenging topics in the international tax environment, continues to increase worldwide at every level of government and international policy with far-reaching impact on countries’ legislations, administrative guidelines, and jurisprudence. This book presents an in-depth, issue-by-issue analysis of the current state of developments along with suggestions for future solutions to the problems raised. Emerging from the research conducted by the WU Transfer Pricing Center at the Institute for Austrian and International Tax Law at WU (Vienna University of Economics and Business), this book offers seven topic-based papers prepared by international experts on transfer pricing. Greatly helping to define where the line should be drawn to distinguish genuine transfer pricing issues from other anti-avoidance measures, this book encompasses the following topics: • global transfer pricing developments; • transfer pricing developments in the European Union; • transfer pricing developments in the United States; • transfer pricing developments in developing countries and emerging economies; • recent developments on transfer pricing documentation and country-by-country reporting; • recent developments on comparability analysis in transfer pricing; and • recent developments on the profit split method. The intense work of international organizations such as the OECD, UN, EU, World Customs Organization, World Bank, International Monetary Fund, and other international organizations is thoroughly analyzed in this book. The detailed analysis will be of immeasurable value to the various players including international organizations, the business community and advisory firms, corporate CEOs and CFOs, and government officials as well as to tax lawyers, in-house counsel, and interested academics in facilitating an efficient dialogue and coordinated approach to transfer pricing in the future.
Book Synopsis Schwarz on Tax Treaties by : Jonathan Schwarz
Download or read book Schwarz on Tax Treaties written by Jonathan Schwarz and published by Kluwer Law International B.V.. This book was released on 2021-09-28 with total page 870 pages. Available in PDF, EPUB and Kindle. Book excerpt: Schwarz on Tax Treaties is the definitive analysis of tax treaties from United Kingdom and Irish perspectives and provides in-depth expert analysis of the interpretation and interaction of those treaty networks with the European Union and international law. The sixth edition significantly develops the earlier work with enhanced commentary and is updated to include the latest UK, Irish domestic and treaty developments, international and EU law, including: Covered Tax Agreements modified by the BEPS Multilateral Instrument; judicial decisions of Ireland, the UK and foreign courts on UK and Irish treaties; Digital Services Tax; treaty binding compulsory arbitration; Brexit and the EU-UK Trade and Cooperation Agreement; taxpayer rights in exchange of information; taxpayer rights in EU cross-border collection of taxes; attribution of profits to permanent establishments; and EU DAC 6 Disclosure of cross-border planning. Case law developments including: UK Supreme Court in Fowler v HMRC; Indian Supreme Court in Engineering Analysis Centre of Excellence Private Limited and Others v CIT; Australian Full Federal Court in Addy v CoT; French Supreme Administrative Court in Valueclick; English Court of Appeal in Irish Bank Resolution Corporation v HMRC; JJ Management and others v HMRC; United States Tax Court in Adams Challenge v CIR; UK Tax Tribunals in Royal Bank of Canada v HMRC; Lloyd-Webber v HMRC; Esso Exploration and Production v HMRC; Glencore v HMRC; McCabe v HMRC; Padfield v HMRC; Davies v HMRC; Uddin v HMRC; English High Court in Minera Las Bambas v Glencore; Kotton v First Tier Tribunal; and CJEU in N Luxembourg I, and others (the ‘Danish beneficial ownership cases’); État belge v Pantochim; College Pension Plan of British Columbia v Finanzamt München; HB v Istituto Nazionale della Previdenza Sociale. About the Author Jonathan Schwarz BA, LLB (Witwatersrand), LLM (UC Berkeley), FTII is an English Barrister at Temple Tax Chambers in London and is also a South African Advocate and a Canadian and Irish Barrister. His practice focuses on international tax disputes as counsel and as an expert and advises on solving cross-border tax problems. He is a Visiting Professor at the Faculty of Law, King’s College London University. He has been listed as a leading tax Barrister in both the Legal 500, for international corporate tax, and Chambers’ Guide to the Legal Profession, for international transactions and particular expertise in transfer pricing. He has been lauded in Who’s Who Legal, UK Bar for his ‘brilliant’ handling of cross-border tax problems. In Chambers Guide, he is identified as ‘the double tax guru’ with ‘extraordinary depth of knowledge and experience when it comes to tax treaty issues and is a creative thinker and a clear and meticulous writer’.
Book Synopsis Guide to International Transfer Pricing by : Dr A. Michael Heimert
Download or read book Guide to International Transfer Pricing written by Dr A. Michael Heimert and published by Kluwer Law International B.V.. This book was released on 2018-10-26 with total page 1290 pages. Available in PDF, EPUB and Kindle. Book excerpt: The pricing of goods, services, intangible property and financial instruments within a multi-divisional organization, particularly in regard to cross-border transactions, has emerged as one of the most contentious areas of international tax law. This is due in no small measure to the rise of transfer pricing regulations as governments seek to stem the flow of their tax revenue from their jurisdictions. This thoroughly practical work provides guidance on an array of critical transfer pricing issues. The guide’s relevance is further enhanced by the inclusion of country chapters covering domestic transfer pricing issues in a variety of key national jurisdictions.
Book Synopsis Corporate Profit Shifting by : Dorian L. Peters
Download or read book Corporate Profit Shifting written by Dorian L. Peters and published by . This book was released on 2015 with total page 171 pages. Available in PDF, EPUB and Kindle. Book excerpt: Congress and the Obama Administration have expressed interest in addressing multinational corporations' ability to shift profits into low- and no-tax countries with little corresponding change in business operations. Several factors appear to be driving this interest. Economists have estimated that profit shifting results in significant tax revenue losses annually, implying that reducing the practice could help address deficit and debt concerns. Profit shifting and base erosion are also believed to distort the allocation of capital as investment decisions are overly influenced by taxes. Fairness concerns have also been raised. If multinational corporations can avoid or reduce their taxes, other taxpayers (including domestically focused businesses and individuals) may perceive the tax system as unfair. At the same time, policymakers are also concerned that American corporations could be unintentionally harmed if careful consideration is not given to the proper way to reduce profit shifting. This book is intended to assist Congress as it considers what, if any, action to curb profit shifting. This book discusses the methods used for shifting profits only to the extent that it is necessary for interpreting the data or discussing policy options. In addition, this book addresses tax havens; basic concepts and policy issues of U.S. international corporate taxation; and reforms of U.S. international taxation.
Book Synopsis OECD Tax Policy Studies E-commerce: Transfer Pricing and Business Profits Taxation by : OECD
Download or read book OECD Tax Policy Studies E-commerce: Transfer Pricing and Business Profits Taxation written by OECD and published by OECD Publishing. This book was released on 2005-05-12 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt: The increased speed and mobility of business activities and cross-border transactions resulting from internet usage has particular implications for applying transfer pricing methods and for taxing business profits. This book presents a two-part look at existing OECD positions on these issues.
Book Synopsis Valuing a Business, Sixth Edition: The Analysis and Appraisal of Closely Held Companies by : Shannon P. Pratt
Download or read book Valuing a Business, Sixth Edition: The Analysis and Appraisal of Closely Held Companies written by Shannon P. Pratt and published by McGraw Hill Professional. This book was released on 2022-04-05 with total page 1297 pages. Available in PDF, EPUB and Kindle. Book excerpt: Accurately analyze and appraise any business with the most trusted guide to valuation Originally published more than 40 years ago, Valuing a Business set the standard for excellence in the appraisal field and is the world's most respected valuation reference. This edition reflects the substantial advances in the tools and sophistication in business valuation, as well as new appraisal standards and regulations that have evolved since it was last published in 2008. These advances fall broadly into three categories: Increasing consensus among the valuation professional organizations on standards, methodology, and terminology Updated appraisal rules, regulations, standards and guidance issued by governmental, or quasigovernmental, and professional bodies Major advances in the quantity, quality, and accessibility of empirical data available to support business valuation conclusions Valuing a Business provides thorough coverage and step-by-step analyses of virtually every topic important to you, including standards and credentials, valuation theory and principles, gathering data, site visits, financial statement analysis, writing reports, buy-sell agreements, litigation support services, and much more. This landmark resource is a complete one-stop compendium of information on the full range of valuation concepts and methods.
