ARLINGTON, Va., Jan. 27 /PRNewswire/ -- BNA Tax & Accounting's Transfer Pricing Report, the longest-running news and analysis publication designed specifically for transfer pricing practitioners, predicts that tax authorities will continue heightened scrutiny of intercompany transactions and will begin simultaneous audits of several large companies' intercompany prices in 2010.
After successfully cooperating through the Joint International Tax Shelter Information Centre on offshore matters during 2009, officials say they will continue such information sharing and begin simultaneous transfer pricing audits in which two nations analyze a large company's intercompany prices at the same time.
"As governments search for revenues, officials have said that cross-border movement of profits to low or no tax jurisdictions are under review," says Transfer Pricing Report Managing Editor Rita McWilliams. "Multinationals should make sure they are prepared to have several different jurisdictions consider their documentation together in 2010."
Other international trends noted in the January 14 issue include:
- Hiring and training of additional international auditors throughout the world
- Formation of an increasing number of specialized transfer pricing units in tax divisions
- Tightened regulations
- Continued debate in the Organization for Economic Cooperation and Development about making the international arm's-length standard more workable
- Alternative forms of dispute resolution
- Continued court action, including appeals of the Veritas Software Corp. case in the United States and the GE Capital case in Canada as well as the U.S. Ninth Circuit's probable rehearing of the Xilinx (Symantec) case
- United Nations and OECD will work on encouraging developing nations to enact and enforce transfer pricing laws
To get more information about BNA's Transfer Pricing Report's, go to http://www.bnatax.com/Transfer-Pricing-Report-p7899/
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SOURCE BNA Tax & Accounting