Transfer Pricing and the OECD Base Erosion Profit Shifting Initiative (Completed)

Date: Thursday, July 15, 2021
Instructor: William J. Seeger
Begin Time:  10:00am Pacific Time
11:00am Mountain Time
12:00pm Central Time
1:00pm Eastern Time
CPE Credit:  1 hour for CPAs
1 hour Federal Tax Related for EAs and OTRPs
1 hour Federal Tax Law for CTEC

Transfer Pricing of MNEs is the most important issue in International taxation. As an essential tool of tax planning for a MNE, its methods and approaches are under the strict scrutiny of tax authorities globally. Because of such scrutiny, this webinar will also discuss the best practices associated with compliance, especially in light of the additional requirements the OECD BEPS initiative mandated.

The BEPS initiative consist of fifteen articles, five of which focus on transfer pricing. This initiative’s purpose was to stem the tide of base shifting between countries due to “loopholes” in the International Tax system. The Transfer Pricing BEPS articles focus on methods, documentation and dispute resolution and are designed to create a common approach to MNEs global transfer pricing compliance.

This webinar lays a clear-cut foundation for understanding commonly applied methods and best practices for compliance. After this, the discussion turns to the impact of layering BEPS requirements on top of the basics of transfer pricing practice.

Who Should Attend
Essential for all practitioners who deal with cross-border tax compliance and planning issues — and is especially important today as the IRS has aggressively increased scrutiny and enforcement activity in the international tax area. Professionals in public practice and in industry will benefit from this program. Business tax and finance executives, directors, managers, and staff; CPAs; Enrolled Agents; tax preparers and staff; accountants, attorneys and financial advisors who work with and advise businesses and individuals that have cross-border operations, activities, and issues.

Topics Covered

  • Intra-group transactions
  • The Arm's-Length Standard
  • Formulary apportionment
  • Methods
  • Documentation requirements: Master file, Local file, and Country by Country ("CbCr) report
  • Impact on Business due to BEPS
  • Dispute Resolution aspects of BEPS
  • Treaty aspects of BEPS
  • Policy aspects of Transfer pricing under BEPS
  • Meaning of transfer pricing outcomes better aligned with value creation of the MNE group.
  • How the role of capital-rich, low functioning entities in BEPS planning will become less relevant.

Learning Objectives

  • Describe BEPS basics
  • Recognize and apply the US Transfer Pricing Guidelines
  • Recognize OECD Transfer Pricing Guidelines and BEPS
  • Describe BEPS updates to global transfer pricing: Actions 8-10
  • Recognize how BEPS Article 13 emphasizes Tax Authority risk assessment
  • Identify new documentation requirements after BEPS
  • Recognize the importance of CbCr report from Article 13

Level
Basic

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (1 hour)

Program Prerequisites
None

Advance Preparation
None

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