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What Does Finance Need to Know About Transfer Pricing?

Financial Executives International TV

McGladrey
Mark Kral, Managing Director

Runtime: 5:12

Key Takeaways:

  1. Many foreign tax authorities are using transfer pricing as a proactive tool to generate additional tax.
  2. Tax preparers are now required to disclose improper transfer pricing documentation to the IRS. This disclosure gives the IRS a roadmap to the company’s transfer pricing issues.
  3. Transfer pricing documentation is a great tax planning tool that can be used to help minimize the overall taxation of a company.
  4. In a transfer pricing audit, the IRS generally uses the Comparable Profits Method, which measures your company against another company’s operating profit margin.
  5. Transfer pricing penalties can be huge. In the U.S., a 20% or 40% penalty is assessed depending on the amount of adjustment.

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