Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
Popular Search: due date for vat payment :: VAT RATES :: list of goods taxed at 4% :: cpt :: empanelment :: VAT Audit :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: TDS :: articles on VAT and GST in India :: ACCOUNTING STANDARDS
Transfer Pricing »
 US, Mexico agree to transfer pricing framework for maquiladoras
 Indian tax official sees expanded role for BEPS inclusive framework, addresses transfer pricing local file
  Transfer Pricing analysis of professional services provided by related-party individuals and corporations
 Transfer Pricing analysis of professional services provided by related-party individuals and corporations
 FinMin to issue rules for norms under BEPS
  CBDT signs five unilateral advance pricing agreements
 UN tax committee to consider major updates to transfer pricing manual, model tax treaty
 CRA intensifies scrutiny of complex transfer pricing tax avoidance scheme
 New transfer pricing requirements in Poland
 Additional Tax Assessment Following Transfer Pricing Control Audit
 Aligning customs with transfer pricing operations

Microsoft Sues IRS For Details Of Law Firm Contracted To Probe Transfer Pricing
November, 25th 2014

Microsoft Corp. (MSFT: Quote) has sued the Internal Revenue Service relating to a review by them on the transfer price of goods being transferred between the software giant and its offshore subsidiaries, according to media reports on Monday. The company has filed a lawsuit in the US District Court of the District of Columbia.

The IRS has been reviewing Microsoft's income tax return filings for the years 2004 to 2009. IRS had retained law firm Quinn Emanuel Urquhart & Sullivan LLP to assist in the review. However, the firms profile says it specializes in business litigation and arbitration.

Microsoft has been seeking complete information from the IRS for nearly two months related to the reported $2.2 million contract signed in May between IRS and Quinn Emanuel to conduct the review of Microsoft's books.

Microsoft has charged the IRS of unlawfully withholding the information, and said it has not fulfilled a request under the Freedom of Information Act that sought the complete details on the Quinn Emanuel contract and other documents.

Microsoft reportedly said that government agencies, funded by citizens, have an obligation of transparency under the Freedom of Information Act.

Microsoft had revealed in a form 10-Q filing with the U.S. SEC on October 23 that it has settled a portion of the IRS audit for tax years 2004 to 2006 during the third quarter of fiscal year 2011, but still remains under audit for those years. The company added that it also continues to be subject to examination by the I.R.S. for tax years 2007 to 2013.

The IRS has been reviewing the tax filings submitted by technology companies related to the transfer pricing and how its is accounted in the books. Last year, IRS slapped Amazon with a bill for $234 million in unpaid taxes over similar procedures.

Multinational companies normally put a value for the goods and services that it moves across international borders to its international subsidiaries. IRS is checking if the companies are pricing the goods and services at a reasonable fair market rate as these mostly help in reducing the firms global tax costs.

MSFT closed Wednesday's regular trading session at $47.59, down $0.39 or 0.81% on a volume of 35.43 million shares.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Development Software Programming Software Engineering Custom Software Development Requirement Based Software Development Software Solutions Software Serv

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions