For Transfer Pricing Practitioners, New BNA Portfolio Analyzes Legal Restrictions and Procedural Requirements of the Competent Authority Process

ARLINGTON, Va., Aug. 26, 2011 /PRNewswire-USNewswire/ -- Transfer Pricing: Competent Authority Consideration, a new Portfolio from BNA Tax & Accounting, guides taxpayers through the competent authority process by identifying situations where relief can be sought, deconstructing the relief request process, and recommending actions to maximize the likelihood that relief would be granted.

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Written by Brian S. Gleicher, a partner in the Washington, D.C.-based law firm of White & Case, Transfer Pricing: Competent Authority Consideration discusses the considerations that a taxpayer should take into account in requesting competent authority assistance, negotiation of the competent authority agreement, the taxpayer's strategy, and finalization of the agreement. It also examines the costs and benefits of seeking a competent authority agreement.

"This Portfolio recognizes the significance of competent authority relief in transfer pricing practice and takes the guesswork out of navigating the murky waters of the competent authority process," explains BNA's Benjamin Jung, the Portfolio's editor. "With careful analysis and helpful practitioner's notes, it illuminates the steps necessary for securing competent authority relief and highlights the role of the taxpayer in the process."

Given that, under the mutual agreement procedures of most U.S. income tax treaties, the competent authorities need only "endeavor" to relieve double taxation, and that competent authority negotiations occur without any direct taxpayer involvement, detailed knowledge of the competent authority process is essential.  This Portfolio explains the ways in which the taxpayer, despite not being directly involved in negotiations, may influence the development of the U.S. Competent Authority negotiating position.  The Portfolio also discusses bilateral competent authority negotiations arising from both U.S.-initiated and foreign-initiated transfer pricing adjustments

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Transfer Pricing: Competent Authority Consideration concludes with a discussion of the costs and benefits of competent authority agreements.  Such costs and benefits could be direct, as with interest on tax deficiencies, refunds, and penalties, or indirect, as with conforming adjustments and deemed loan treatment.

Transfer Pricing: Competent Authority Consideration is part of BNA Tax & Accounting's Transfer Pricing Premier Library and is available for individual purchase from BNA's online store.

About the Author
As a partner at White & Case, Brian S. Gleicher focuses on international tax issues with an emphasis on transfer pricing and tax treaty issues. He routinely represents multinational companies in transfer pricing matters, including advance pricing agreements, with the Internal Revenue Service and foreign tax authorities. He also advises taxpayers on proceedings before the U.S. and foreign Competent Authorities on a broad range of issues, including double taxation, residency and permanent establishment questions.

Additionally, Mr. Gleicher represents corporate and individual taxpayers in domestic tax examinations and settlement negotiations with the Internal Revenue Service at the examination and appeals levels.

Mr. Gleicher received his BS with high honors in 1992 from the University of Florida, Fisher School of Accounting and his JD cum laude in 1995 from the Georgetown University Law Center, where he served as a lead articles editor of The Tax Lawyer.

About BNA Tax & Accounting
BNA Tax & Accounting is the foremost source of news, analysis, and practice tools for tax attorneys, estate planners, accountants, and corporate tax and financial accounting professionals. For more than 50 years, BNA Tax & Accounting has offered practitioners expert insights and guidance on every significant issue in tax planning and financial accounting. Written by practitioners for practitioners, BNA's award-winning Portfolios offer topic-driven, in-depth guidance on transactions designed to help tax professionals achieve new levels of excellence and client service. Click here for more information on BNA's Transfer Pricing Premier Library of which this Portfolio is a part, or call 800.372.1033.

SOURCE BNA Tax & Accounting