HomeWebcastTransfer Pricing: Curtailing Compliance Hurdles
Online CPE Transfer Pricing CLE

Transfer Pricing: Curtailing Compliance Hurdles

Live Webcast Date: Monday, November 25, 2019 from 12:00 pm to 1:30 pm (ET)
Taxation (CPE)Recording

Online CPE Transfer Pricing

Join us for this Knowledge Group Online CPE Transfer Pricing Webinar. The recent years have witnessed significant developments and updates surrounding the transfer pricing landscape. As a result of the implementation and enforcement of various reforms in domestic and global tax laws, tax authorities and taxpayers are confronted with an increase in number and complexity of transfer pricing controversies. To cope with these increasingly complex developments, practitioners must prepare robust transfer pricing analysis and documentation. Additionally, it is of paramount importance to be in the know of the latest trends in this area of law to curtail compliance hurdles and to handle the evolving industry dynamics.

In this Webcast, a seasoned panel of thought leaders and professionals brought together by The Knowledge Group will provide and present to the audience an in-depth analysis of the fundamentals as well as recent developments surrounding Transfer Pricing in 2019. Speakers will also present best practices and key compliance tools in light of recent developments.

Key issues that will be covered in this course are:

  • Transfer Pricing in 2019: An In-Depth Analysis
  • Transfer Pricing Rules
  • Transfer Pricing Penalties and Application
  • Risk and Pitfalls and How to Address Them
  • What Lies Ahead

Agenda

Mark Madrian, Partner
Valentiam Group LLC
  1. Describe Transfer Pricing Environment in 2019/2020
    1. Fluid – continue to see changes and evolution of rules and guidelines at OECD and local country level
    2. Complicated – new guidelines, rules and requirements add to compliance efforts (e.g., time and costs) requiring resources and local country expertise; US tax reform and regulations governing BEAT and other provisions
    3. Uncertain – Looming questions regarding Digital Tax (how will it be adopted by each country), BREXIT (what will happen with I/C transactions between UK and other European countries), global trade (what will be near term and long term effects of ongoing trade disputes, especially as countries look for revenues)
  2. Current State 2019/2020: What We Do Know
    1. BEPS Actions Adopted
    2. Action Item 13 re Documentation
      1. Summarize guidance on MF, LF and C-by-C
      2. Adoption of Action Item 13
      3. Countries yet to adopt:  Brazil and….
    3. NGO Activities/Efforts
      1. United Nations
      2. IMF
      3. World Bank (i.e., IFC)
    4. Local Country Initiatives
      1. Supplemental Filings – Australia and France
      2. Australia LRD Guidelines
      3. Digital Tax – France, Australia
  3. Looking Forward to 2020 & Beyond
    1. BEPS 2.0 & Digital Taxation
    2. BREXIT
    3. US & China Trade Dispute
      1. Elevated customs & duties tax to the forefront with many clients
      2. Sourcing and manufacturing in jurisdictions other than China – revisit supply chains
      3. Intercompany Pricing of tangible goods
  4. Key Compliance Hurdles for Global Taxpayers
    1. Extracting and assimilating data/information from multiple jurisdictions and disparate information systems that is reliable and compliant
    2. Preparing necessary and appropriate documentation
    3. Filing documentation and supplemental tax filings/reports
    4. Audits
      1. Proactive efforts: Gathering information and preparing audit files
      2. Reactive efforts: Responding to audits and information requests
  5. Collecting & Reporting Data
    1. Issues
    2. Recommendations
      1. Enlisting local country controllers
      2. Working with IT Department to automate data retrieval and assimilation into predetermined packages/formats
      3. Enlisting internal audit to provide audits of financial data and systems to ensure accuracy
      4. Use of external software tools to automate processes – book to tax etc.
  6. Transfer Pricing Documentation
    1. What Constitutes Documentation
    2. What should go into report
    3. Issues
      1. Consistency and accuracy of information included in local files
      2. Preparation deadlines
      3. Volume of reports – number and size
      4. Updating narratives in MF and LF
      5. Access to LF and workpapers/information used to prepare reports
    4. Recommendations
      1. Transaction templates – Distribution, R&D, Services etc.
      2. Compliance calendar
      3. Regional reports, addendums to MF, format of reports
      4. Identify functional and local country contacts to own narrative sections
      5. Centralized data repository and LFs
  7. Supplemental Filings
    1. Issues
      1. Mexico, Australia, Canada etc. have supplemental filings that are part of the corporate tax return and filed with return – require data that is often prepared with LF/documentation
      2. Supplemental questionnaires (e.g., Hong Kong)
      3. C-by-C type reports for small taxpayers – France
      4. Gathering data and reporting correctly – consistency with LF/MF information and supplemental filings
    2. Recommendations
      1. Work with local country accountants/tax prep teams to identify and log these filing requirements
      2. Map data needs to data collection efforts for LF, MF and C-by-C reports
      3. Approval process when data from outside local jurisdiction if requested and filed
  8. Audit Defense
    1. Issues
      1. Seeing increased audit activities – tax authority questionnaires, information sharing among tax administrators, follow up on information reported in MF and LF
      2. Sophistication of auditors
      3. Coordinating audit responses in an age of information sharing
      4. Negotiating settlements that are “consistent” for similar transactions outside the jurisdiction – don’t create additional audit issues in other countries
    2. Recommendations
      1. Training internal tax team and local controllers on global transfer pricing policies – consider preparing a global transfer pricing policy manual that documents and explains policies and procedures for reporting intercompany transactions
      2. Proactively gather documentation/information (e.g., reports/work product for HQ charges etc.)
      3. Updated and current I/C agreements
      4. Central/Regional designee to review audits and finalize/approve settlements
  9. Tracking of audits and resolutions (identifying issues involving transfer pricing and how resolved)

Robin Hart, Principal
Charles River Associates
  • A survey of transfer pricing compliance requirements.
    • What is working, what is not working.
    • Country specific nuances
  • Experiences and challenges in the adoption of OECD style master file and local files by taxpayers.
    • Are the benefits outweighing the costs?
    • How have tax departments re-organized to address these requirements?
    • What I have seen from service providers
  • Recommendations
    • Where to focus efforts
    • Foot faults

Who Should Attend

  • Transfer Pricing Attorneys
  • International Tax Consultants
  • Auditors
  • Accountants
  • Chief Financial Officers
  • Financial Management Officers
  • Controllers
  • Tax Professionals
  • Taxation Lawyers

Online CPE Transfer Pricing

Mark Madrian, Partner
Valentiam Group LLC
  1. Describe Transfer Pricing Environment in 2019/2020
    1. Fluid – continue to see changes and evolution of rules and guidelines at OECD and local country level
    2. Complicated – new guidelines, rules and requirements add to compliance efforts (e.g., time and costs) requiring resources and local country expertise; US tax reform and regulations governing BEAT and other provisions
    3. Uncertain – Looming questions regarding Digital Tax (how will it be adopted by each country), BREXIT (what will happen with I/C transactions between UK and other European countries), global trade (what will be near term and long term effects of ongoing trade disputes, especially as countries look for revenues)
  2. Current State 2019/2020: What We Do Know
    1. BEPS Actions Adopted
    2. Action Item 13 re Documentation
      1. Summarize guidance on MF, LF and C-by-C
      2. Adoption of Action Item 13
      3. Countries yet to adopt:  Brazil and….
    3. NGO Activities/Efforts
      1. United Nations
      2. IMF
      3. World Bank (i.e., IFC)
    4. Local Country Initiatives
      1. Supplemental Filings – Australia and France
      2. Australia LRD Guidelines
      3. Digital Tax – France, Australia
  3. Looking Forward to 2020 & Beyond
    1. BEPS 2.0 & Digital Taxation
    2. BREXIT
    3. US & China Trade Dispute
      1. Elevated customs & duties tax to the forefront with many clients
      2. Sourcing and manufacturing in jurisdictions other than China – revisit supply chains
      3. Intercompany Pricing of tangible goods
  4. Key Compliance Hurdles for Global Taxpayers
    1. Extracting and assimilating data/information from multiple jurisdictions and disparate information systems that is reliable and compliant
    2. Preparing necessary and appropriate documentation
    3. Filing documentation and supplemental tax filings/reports
    4. Audits
      1. Proactive efforts: Gathering information and preparing audit files
      2. Reactive efforts: Responding to audits and information requests
  5. Collecting & Reporting Data
    1. Issues
    2. Recommendations
      1. Enlisting local country controllers
      2. Working with IT Department to automate data retrieval and assimilation into predetermined packages/formats
      3. Enlisting internal audit to provide audits of financial data and systems to ensure accuracy
      4. Use of external software tools to automate processes – book to tax etc.
  6. Transfer Pricing Documentation
    1. What Constitutes Documentation
    2. What should go into report
    3. Issues
      1. Consistency and accuracy of information included in local files
      2. Preparation deadlines
      3. Volume of reports – number and size
      4. Updating narratives in MF and LF
      5. Access to LF and workpapers/information used to prepare reports
    4. Recommendations
      1. Transaction templates – Distribution, R&D, Services etc.
      2. Compliance calendar
      3. Regional reports, addendums to MF, format of reports
      4. Identify functional and local country contacts to own narrative sections
      5. Centralized data repository and LFs
  7. Supplemental Filings
    1. Issues
      1. Mexico, Australia, Canada etc. have supplemental filings that are part of the corporate tax return and filed with return – require data that is often prepared with LF/documentation
      2. Supplemental questionnaires (e.g., Hong Kong)
      3. C-by-C type reports for small taxpayers – France
      4. Gathering data and reporting correctly – consistency with LF/MF information and supplemental filings
    2. Recommendations
      1. Work with local country accountants/tax prep teams to identify and log these filing requirements
      2. Map data needs to data collection efforts for LF, MF and C-by-C reports
      3. Approval process when data from outside local jurisdiction if requested and filed
  8. Audit Defense
    1. Issues
      1. Seeing increased audit activities – tax authority questionnaires, information sharing among tax administrators, follow up on information reported in MF and LF
      2. Sophistication of auditors
      3. Coordinating audit responses in an age of information sharing
      4. Negotiating settlements that are “consistent” for similar transactions outside the jurisdiction – don’t create additional audit issues in other countries
    2. Recommendations
      1. Training internal tax team and local controllers on global transfer pricing policies – consider preparing a global transfer pricing policy manual that documents and explains policies and procedures for reporting intercompany transactions
      2. Proactively gather documentation/information (e.g., reports/work product for HQ charges etc.)
      3. Updated and current I/C agreements
      4. Central/Regional designee to review audits and finalize/approve settlements
  9. Tracking of audits and resolutions (identifying issues involving transfer pricing and how resolved)

Robin Hart, Principal
Charles River Associates
  • A survey of transfer pricing compliance requirements.
    • What is working, what is not working.
    • Country specific nuances
  • Experiences and challenges in the adoption of OECD style master file and local files by taxpayers.
    • Are the benefits outweighing the costs?
    • How have tax departments re-organized to address these requirements?
    • What I have seen from service providers
  • Recommendations
    • Where to focus efforts
    • Foot faults

Online CPE Transfer Pricing

Online CPE Transfer Pricing

Mark MadrianPartnerValentiam Group LLC

Mark is a partner in Valentiam Group and brings more than twenty years of transfer pricing experience having worked in both consulting and in-house transfer pricing roles at Ernst & Young, KPMG, Duff & Phelps and Procter & Gamble Corporation. Mark has advised companies across a spectrum of industries – including technology, consumer products, direct marketing, healthcare and professional services. Mark has also been recognized by Euromoney as one of the leading transfer pricing economists in North America.

Mark advises multinational companies on a wide range of transfer pricing and valuation issues, including the following: Global transfer pricing documentation in more than 40 countries; global transfer pricing planning; tax-efficient supply chain planning; intangible property valuations within the context of IRC §§ 482 and 367(d); operational transfer pricing, including ERP system integration; cost-sharing; Advance Pricing Agreements (APAs); audit defense; Competent Authority matters in North America, Asia and Europe; and, FIN 48 / ASC 740 compliance.

Online CPE Transfer Pricing

Robin HartPrincipalCharles River Associates

Robin Hart is a Principal within the Transfer Pricing Practice. Robin is a highly regarded transfer pricing and tax economist with 17 years of experience serving clients in the life sciences, technology, and consumer products sectors. He has assisted taxpayers with their strategic objectives relating to the transfers and licensing of intangible property, alignment of supply chains, the establishment of high-value and shared service centers, and intercompany financing. Focused primarily on innovative Bay Area companies, Robin has executed on cross-border and domestic transactions involving cost-sharing and IP planning, post-acquisition integration, global BEPS alignment, the launch of new digital business models, and business restructurings. Projects have included feasibility and planning, U.S. and OECD Action 13 documentation, APA submissions, ASC740-10, and audit defense. His recent experience includes assessing IP strategies in light of U.S. tax reform and BEPS for high growth medical device, biotechnology and fintech companies. Prior to joining CRA, Robin was a Managing Director with Deloitte Tax in San Francisco.


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Online CPE Transfer Pricing

Course Level:
   Intermediate

Advance Preparation:
   Print and review course materials

Method Of Presentation:
   On-demand Webcast

Prerequisite:
   General knowledge of transfer pricing laws

Course Code:
   148166

NY Category of CLE Credit:
   Areas of Professional Practice

Total Credits:
    1.5 CLE

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About the Knowledge Group

The Knowledge Group

The Knowledge Group has been a leading global provider of Continuing Education (CLE, CPE) for over 13 Years. We produce over 450 LIVE webcasts annually and have a catalog of over 4,000 on-demand courses.

About the Knowledge Group

The Knowledge Group

The Knowledge Group has been a leading global provider of Continuing Education (CLE, CPE) for over 13 Years. We produce over 450 LIVE webcasts annually and have a catalog of over 4,000 on-demand courses.

Valentiam Group is an innovative boutique professional services firm with locations across the US. Our name originates from the Latin phrase "ad valentiam" meaning "to the value.” Our team is comprised of professionals with extensive experience and educational experiences. We focus primarily on helping tax advisors determine an arm’s-length price of intercompany sales transactions and the fair market value of assets for federal, state, and local tax purposes. Our work entails both domestic and cross-border transactions.

Website: https://www.valentiam.com/

Charles River Associates is a leading global consulting firm that offers economic, financial, and strategic 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 services. 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.

Website: http://www.crai.com/

Mark is a partner in Valentiam Group and brings more than twenty years of transfer pricing experience having worked in both consulting and in-house transfer pricing roles at Ernst & Young, KPMG, Duff & Phelps and Procter & Gamble Corporation. Mark has advised companies across a spectrum of industries – including technology, consumer products, direct marketing, healthcare and professional services. Mark has also been recognized by Euromoney as one of the leading transfer pricing economists in North America.

Mark advises multinational companies on a wide range of transfer pricing and valuation issues, including the following: Global transfer pricing documentation in more than 40 countries; global transfer pricing planning; tax-efficient supply chain planning; intangible property valuations within the context of IRC §§ 482 and 367(d); operational transfer pricing, including ERP system integration; cost-sharing; Advance Pricing Agreements (APAs); audit defense; Competent Authority matters in North America, Asia and Europe; and, FIN 48 / ASC 740 compliance.

Robin Hart is a Principal within the Transfer Pricing Practice. Robin is a highly regarded transfer pricing and tax economist with 17 years of experience serving clients in the life sciences, technology, and consumer products sectors. He has assisted taxpayers with their strategic objectives relating to the transfers and licensing of intangible property, alignment of supply chains, the establishment of high-value and shared service centers, and intercompany financing. Focused primarily on innovative Bay Area companies, Robin has executed on cross-border and domestic transactions involving cost-sharing and IP planning, post-acquisition integration, global BEPS alignment, the launch of new digital business models, and business restructurings. Projects have included feasibility and planning, U.S. and OECD Action 13 documentation, APA submissions, ASC740-10, and audit defense. His recent experience includes assessing IP strategies in light of U.S. tax reform and BEPS for high growth medical device, biotechnology and fintech companies. Prior to joining CRA, Robin was a Managing Director with Deloitte Tax in San Francisco.

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