IRS Working To Revamp Tax Policies; In The Meantime, APAs Recommended
REGULATIONS
The U.S. Internal Revenue Service (IRS) is moving toward updating its tax accounting rules with regard to transfer pricing, an IRS spokesman confirms. But in the meantime, foreign banks looking to avoid any surprises from the increasingly aggressive U.S. tax authorities, should see about entering into an Advance Price Agreement (APA), the spokesman recommends.
"We would certainly say that the APA would be a solution they could look to," says the spokesman, "it's a judgment call as to whether that
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