Shott gives details on IRS transfer pricing council
April 13, 2009
The US tax authority has established a special transfer pricing council to help coordinate the IRS’ efforts in the area. Barry Shott, [LMSB deputy commissioner (international)], chairs the council and provides more details on the set up and objectives of the group in an exclusive interview with TPWeek.
Why was the council created?
Steadily increasing cross-border business activities present several significant challenges to tax administrators. One of the most significant of these challenges is in the practice of transfer pricing by US and foreign-based multinational enterprises. Accordingly, I formed this council to identify gaps in guidance for our employees and taxpayers, and gather the proper resources from within the Service to address these gaps.
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