Transfer Pricing Amid COVID-19: Trends, Developments and Practical Guide
Overview:
As the world grapples with the unprecedented economic disruptions brought by the Coronavirus Disease 2019 (COVID-19) pandemic, multinational enterprises (MNEs) in the U.S. and Canada are confronted by the added challenge of maintaining transfer pricing compliance. Most businesses are now forced to adjust their transfer prices, analysis, and documentation and revisit their force majeure clauses to look for alternative means of fulfilling their contract obligations. Thus, creating a profound strain on the operations of MNEs.
Businesses and practitioners must keep themselves abreast of the regulatory developments in this field of regulation. They must also recalibrate their transfer pricing practices in existing supply chains and adopt practical strategies to ensure business continuity amid the crisis.
In a LIVE Webcast, a panel of key thought leaders and professionals assembled by The Knowledge Group will provide an in-depth discussion of the emerging trends, developments, and critical issues in transfer pricing during the COVID-19 crisis. Speakers will also offer practical strategies to overcome drawbacks in this time of uncertainty.
Key topics include:
- COVID-19 Implications on Transfer Pricing
- Tax Authority Guidance relating to Pandemic
- Critical Issues and Red Flags
- Practical Tips and Strategies
- What Lies Ahead
Agenda:
Robin Hart, Principal, Transfer Pricing Practice
Charles River Associates
- Survey of tax authority pronouncements on Covid-related transfer pricing issues
- Authority to change TP Policy and Pricing: force majeure and incomplete contracts
- Impact and Treatment of Subsidies
Jamie Eagan, Vice President of Product Management
insightsoftware
- Transfer Pricing Challenges have existed historically
- Data volumes & Granularity
- Cadence/visibility
- Alignment of forecast data from finance to actuals
- Exacerbated by Covid
- Material changes to actuals and forecast
- How to provide guidance amid uncertainty
- More frequent updates requested and jurisdictional variances to account for
- Technology assisting
- Being able to do scenarios Best case/worst case
- Narrowing range of potential results
- Identifying key drivers of material changes.
- Goal of staying ahead of potential impacts where possible.
David J. Hutchings, Principal
The Brattle Group
Valuation for transfer pricing purposes is affected by COVID:
- Structural economic changes from COVID has (or potentially has) changed valuation assumptions and benchmark inputs in the short term and potentially in the long run (e.g., relative valuations and estimation of systemic risk)
- Valuators will need to apply judgment about whether to adopt a short term or long run perspective
Michael I. Cragg, Principal & Chairman
The Brattle Group
- How to consider intangibles in COVID:
- Face-to-face meetings have been greatly devalued; at a minimum this dramatically changes travel and hospitality and commercial real estate.
- Any value chain with network and platform intangibles will experience impacts in the face of COVID as participation on the platform is affected (positively or negatively)
Who Should Attend:
- Transfer Pricing Lawyers
- Tax Lawyers
- Transfer Pricing Advisers
- Transfer Pricing Managers
- Chief Financial Officers
- Financial Reporting Officers
- Financial Management Officers
- Tax Managers and Directors
- Financial Auditors
- International Tax Consultants
- Accountants
Robin Hart is a Principal within CRA’s Transfer Pricing practice based in the San Francisco Bay Area. Robin is a …
Jamie Eagan is the Vice President of Product Management – Tax at insightsoftware. Jamie has over 20 years of experience …
David Hutchings, a principal in The Brattle Group’s Toronto office, specializes in conducting economic analysis in complex tax, securities, and …
Michael Cragg, a principal at and chairman of The Brattle Group based in Boston and Toronto, has extensive consulting, research, …
Course Level:
Intermediate
Advance Preparation:
Print and review course materials
Method of Presentation:
On-demand Webcast (CLE)
Prerequisite:
General knowledge of transfer pricing
Course Code:
149154
NY Category of CLE Credit:
Areas of Professional Practice
Total Credits:
2.0 CLE
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SPEAKERS' FIRMS:
About Charles River Associates
Charles River Associates is a leading global consulting firm that offers economic, financial, and strategy expertise to major law firms, corporations, accounting firms, and governments around the world.
With proven skills in complex cases and exceptional strength in analytics, CRA consultants have provided astute guidance to clients in thousands of successful engagements. We offer litigation and regulatory support, business strategy and planning, market and demand forecasting, policy analysis, and risk management consulting.
Our success stems from the outstanding capabilities of our consultants, many of whom are recognized as experts in their respective fields; our close relationships with a select group of respected academic and industry experts; and from a corporate philosophy that stresses interdisciplinary collaboration and responsive service.
Headquartered in Boston, the firm has offices internationally.
Website: http://www.crai.com/
About insightsoftware
insightsoftware is a leading provider of financial reporting and enterprise performance management software. We enable the office of the CFO to connect and make sense of their enterprise data in real-time so they can proactively drive greater financial intelligence across their organization. Over 25,000 organizations rely on insightsoftware’s portfolio of best-in-class reporting, analytics, budgeting, forecasting, consolidation, and tax solutions to provide them with increased productivity, visibility, accuracy, and compliance.
Website: https://insightsoftware.com/
About The Brattle Group
The Brattle Group answers complex economic, regulatory, and financial questions for corporations, law firms, and governments around the world. We have been retained by dozens of Fortune 500 companies and governments as consulting and testifying experts in litigations related to energy, finance, and litigation and regulatory support – including tax and transfer pricing disputes.