Transfer Pricing Audit Roadmap: An Overview
On February 14, 2014, the Transfer Pricing Operations office of the Internal Revenue Service (IRS) released the Transfer Pricing Audit Roadmap (the Roadmap). The Roadmap is intended to provide IRS exam teams with the tools and guidance necessary to identify early in the examination those transfer pricing issues that merit pursuing, and then to assist the teams in developing more defensible adjustments. The Roadmap also provides taxpayers with insight into what they can expect during transfer pricing examinations. This article identifies the key themes of the Roadmap, summarizes the proposed phases of the transfer pricing audit, and considers ways in which taxpayers can use it to prepare for transfer pricing audits.
Hiding in Plain Sight - the Anatomy of a Bribe
Enforcement of anti-bribery and corruption laws around the world is at an all-time high. Regulators are attacking corruption by wielding older weapons, such as the 1977 U.S. Foreign Corrupt Practices Act (FCPA), and by using new ammunition like the 2010 U.K. Bribery Act.
If your company does business in any foreign country, there’s a risk that bribes could be hiding in plain sight. To know what they look like and where to find them, you first need to understand the anatomy of a bribe.
Auditing & Accounting Update
In this section, we provide brief updates on regulatory developments in auditing and accounting that may impact Japanese companies in the United States.
In this section of Jnet, we provide brief updates on legislative, judicial, and administrative developments in tax that may impact Japanese companies operating in the United States.
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The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.