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: list of goods taxed at 4% :: ACCOUNTING STANDARD :: empanelment :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: form 3cd :: VAT RATES :: cpt :: TDS :: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4%
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

Alas, the MTC Executive Committee approves its transfer pricing program design
May, 11th 2015

After nearly a year of planning, the Multistate Tax Commission Executive Committee today approved the Arm’s-Length Adjustment Services Advisory Group (the Group) Final Program Design. The following six states have agreed to participate in the Program: Alabama, Iowa, Kentucky, New Jersey, North Carolina and Pennsylvania.

Today’s discussion focused on some startling statements. The design itself claims that states lose collectively $20 billion in revenue by not adjusting transfer pricing. Another claim, citing a survey described during an accounting firm webinar, was that one-third of taxpayers never or rarely update state transfer pricing studies. Several attendees gasped at that claim.

The Group has identified summer 2015 as the target implementation date. The Program has three distinct phases:

The Pre-Launch Stage began in January and is nearly complete. It was designed to garner support among states for the Program.
The Developmental Stage will sequentially implement elements of the Program. During this stage, the Program intends to establish information exchange procedures, complete an initial round of economic analyses of transfer pricing studies, and begin to expand the MTC Joint Audit Program to incorporate transfer pricing issues.
The Fully Operational Stage will run from July 2017 through June 2018. At this stage, the Group intends to fully implement all elements of the Program, including training, process improvement, case assistance, case resolution and litigation support.

One hurdle that ALAS may need to overcome is the lack of interest by the states in joining the Program. The estimated cost of the Program per state is $200,000 annually, but this estimate is based on ten states participating. It is unclear how the annual charge to the states will change if interest remains below the ten-state threshold.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Contact Us

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