Tax & Accounting Blog

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Indian Expert Committee Report on the Software Industry: Analyzing the Impact

By Gaurav Shah, MZSK & Associates, Mumbai Gaurav Shah is an associate director with MZSK & Associates, a member firm of the International BDO Network, in Mumbai. Indian captives engaged in software development and software R&D work have long faced transfer pricing challenges, the most important being the margins expected of such captives by the … Read More

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Bloomberg BNA Transfer Pricing Forum Examines Treatment of Secret Comparables

By Kevin Bell A survey of practitioners from 26 countries found that nine jurisdictions—Argentina, Australia, Canada, China, Germany, India, Italy, Mexico, and Switzerland—use secret comparables to varying degrees, in violation of Organization for Economic Cooperation and Development transfer pricing guidelines. However, the May survey by Bloomberg BNA’s Transfer Pricing Forum also found that Austria, Belgium, … Read More

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IRS Postpones Information Reporting by Domestic Entities for Specified Foreign Financial Assets

On January 23, 2013, the IRS issued Notice 2013-10. The Notice postpones the date that domestic entities, including trusts, will be required to report their interests in specified foreign financial assets on Form 8938. Background Code § 6038D was enacted by section 511 of the Hiring Incentives to Restore Employment Act (the … Read More