Wealth & Risk Management Blog

William Byrnes (Texas A&M) tax & compliance articles

Transfer Pricing


Lexis’ Practical Guide to U.S. Transfer Pricing is updated annually to help multinationals cope with the U.S. transfer pricing rules and procedures, taking into account the international norms established by the Organisation for Economic Co-operation and Development (OECD). It is also designed for use by tax administrators, both those belonging to the U.S. Internal Revenue Service and those belonging to the tax administrations of other countries, and tax professionals in and out of government, corporate executives, and their non-tax advisors, both American and foreign.  Fifty co-authors contribute subject matter expertise on technical issues faced by tax and risk management counsel.  Free download of chapter 2 here


CH 1: Overview of Transfer Pricing
CH 2: Framework for U.S. Transfer Pricing Analysis Under Treasury Regulation Section 1.482-1 — OECD Guidelines Compared
CH2A: The OECD and the U.S. Regarding Risk Allocation
CH 3: Determination of Related Person Status
CH 4: Finding and Selecting Comparables
CH 5: Comparable Uncontrolled Price (CUP) Method
CH 6: Resale Price Method (RPM) and Alternatives to Traditional Buy-Sell Distributors
CH 7: Cost Plus Method
CH 8: Transfer Pricing Rules and Methods for Intangible Property
CH 9: Comparable Profits Method
CH9A: The Berry Ratio
CH 10: Profit Split Methods
CH 11: Unspecified Methods
CH 12: Functional Analysis and Choosing the Best Method
CH 13: Cost Sharing Arrangements
CH 14: Transfer Pricing for Services Under the 1968 and 2009 Treasury Regulations
CH 15: Determining Arm’s Length Interest and Rent
CH 16: Financial Industry Transfer Pricing Issues
CH 17: Second-Level Effects of Transfer Pricing Adjustments
CH 18: Documented Self-Compliance and Transfer Pricing Penalties
CH 19: Advance Pricing Agreements (APAs)
CH 20: IRC Sections 6038A and 6038C: Record-Keeping, Record Production, and Reporting for Foreign-Owned Groups
CH 21: Examination and Appeals
CH 22: Competent Authority to Avoid Double or Excessive Taxation From Transfer Pricing Adjustments
CH 23: Transfer Pricing Litigation
CH 24: Relationship of Section 482 to Other Code Sections
CH 25: Transfer Pricing Effects of Customs Actions and Customs Effects of Transfer Pricing Actions
CH 26: State Tax Transfer Pricing Issues
CH 27: International Strategy for Transfer Pricing Compliance: A Checklist for Multinationals
CH 28: Transfer Pricing Aspects of Business Restructurings — Chapter IX of the OECD Guidelines
CH 29: Application of the Comparable Profit Split Method (CPSM) to Business Service Providers
CH 30: Mitigation of Transfer Pricing Risks with ISO 9001 Certification
CH 31: Transfer Pricing Risks of Debt
CH 32: The Value Chain: A Study Of The Coffee Industry
CH 33: The Value Chain: A Study of the Tobacco Industry
CH 34: The Impact of EU State Aid Rules on Advance Pricing Agreements



Lexis Transfer Pricing Authors & Industry’s Top Experts

William H. Byrnes (principal author) is an author of eight LexisNexis international tax compendium, three Tax Facts books of National Underwriter, hundreds of tax articles, among other books and government reports. In 1994, he developed an international tax graduate program, pioneering in 1998 the first online LL.M. offered by an ABA law school (International Taxation). Academically, he has obtained the titles of Professor of Law with Tenure (St. Thomas) and of Associate Dean (Thomas Jefferson). Professionally, he served as a Senior Manager then an Associate Director of international tax at Coopers & Lybrand (South Africa), specializing in transfer pricing and functional analysis. Professor Byrnes undertook a three-year transfer pricing fellowship at the IBFD in conjunction with an LL.M. at the University of Amsterdam.

The Late Robert T. Cole in 1973 founded the law firm which became Cole Corette & Abrutyn where he practiced through 1996. In 1997 he founded Alston & Bird’s International Tax Group and practiced in that firm from 1997 through July 2012. In August 2012 he joined the Internal Revenue Service’s Office of Transfer Pricing Operations, commencing his third period of government service. Mr. Cole served in the U.S. Treasury from 1967 to 1973 and was appointed as the first International Tax Counsel in 1971. He served in the JAG Corps of the United States Air Force from 1957 to 1959. Mr. Cole received his LL.B in 1956 from Harvard Law School and his B.S. in 1953 from the Wharton School of Finance, University of Pennsylvania, and an academic postgraduate diploma in law in 1959 from the London School of Economics. He is a member of the Council of the USA branch of the International Fiscal Association; a past vice-chair of the Tax Committee of the National Foreign Trade Council and a member of the Tax Section of the American Bar Association.

Valerie Amerkhail is a Director, Transfer Pricing with Economic Consulting Services, LLC. She has specialized in transfer pricing economics since 1986, first with Deloitte & Touche, then with Coopers & Lybrand, before joining ECS in 1998. Her work with international tax attorneys and clients has involved transfer pricing dispute resolution at all stages of IRS field examinations, appeals, Advanced Pricing Agreements and Competent Authority negotiations, as well as examinations by Japanese, Korean, European, and other non-U.S. tax authorities. Ms Amerkhail served as a Principal Analyst at the Congressional Budget Office, where she was responsible for CBO’s corporate tax projections. She may be contacted at valerie.amerkhail@economic-consulting.com.

Henry J. Birnkrant is a partner at Alston & Bird and chairs its Tax Section. His practice is focused on transfer pricing matters and U.S. taxation of various types of domestic and cross-border transactions. Mr. Birnkrant has secured many advance pricing agreements (APAs) and resolved numerous transfer pricing disputes with the IRS at the examination and appeals levels. His practice has also included securing competent authority relief from transfer pricing adjustments initiated by both the IRS and foreign tax authorities. Mr. Birnkrant is a graduate of the University of Rochester, from which he received his B.A. in Economics. He received his J.D. from Columbia University School of Law and an LL.M. in taxation from New York University School of Law. He may be contacted at henry.birnkrant@alston.com.

William E. Bonano is a partner at the San Francisco Office of Pillsbury Winthrop Shaw Pittman LLP. His practice includes international tax planning and IRS controversy matters, including representing clients before IRS Examinations, Appeals and in litigation. Mr. Bonano assists in negotiating Advance Pricing Agreements and in representing clients in Competent Authority proceedings. Mr. Bonano was formerly an International Special Trial Attorney with the Internal Revenue Service. He has litigated over 25 tax cases through opinion, including a number of transfer pricing cases. He received a J.D. from the University of Washington School of Law, is a frequent lecturer on transfer pricing issues and has written a number of articles on that subject. He may be contacted at william.bonano@pillsburylaw.com.

Patrick J. Browne Jr. is a managing director of KPMG, LLP. His practice focuses on general corporate tax issues and international tax planning, including structuring and drafting stock purchase and asset acquisition agreements, Section 355 distributions, tax-free reorganizations, cross-border tax planning, FIRPTA-related issues, tax treaty issues, and FBAR filing requirements (Form TD F 90-22.1). Before joining Jones Day as of counsel, Mr. Browne was a senior manager in the national tax office of a Big Four accounting firm. Prior to that, he was an associate at a New York-based international law firm where he focused on advance pricing agreements for a Fortune 100 company and various U.S. international tax issues, such as foreign tax credit optimization and subpart F planning. He may be contacted at patrickbrowne@kpmg.com.

William W. Chip is Senior Counsel in the international law firm Covington & Burling, resident in their Washington, D.C. office. Mr. Chip has over 30 years of experience advising and representing multinational clients with respect to cross-border transfer pricing and other international tax matters, including the resolution of transfer pricing controversies at the examination and appeals level and through Competent Authority proceedings and the IRS Advance Pricing Agreement Program. Over the course of his career, Mr. Chip he has chaired the Transfer Pricing Subcommittees of the ABA Tax Section and the U.S. Council on International Business and has served as the Transfer Pricing Technical Director of a Big Four accounting firm. He is a long-standing member of the Tax Committee of the OECD’s Business & Industry Advisory Committee (BIAC), and in that role has been an active participant in the OECD’s project on Base Erosion & Profit Shifting (BEPS). Having served as transfer pricing advisor to the owners, CFOs, and senior tax executives of both established and emerging global enterprises in the financial, commodities, life sciences, and energy industries, he is nationally recognized for his specialized expertise in those industries. Mr. Chip received his B.A. in Economics from Yale University in 1971, his M.A. in Economics from Cambridge University in 1973, and his J.D. from Yale University in 1979. He may be contacted at wchip@cov.com.

Ryan M. Decker is a Transfer Pricing Manager with PwC. Dr. Decker is based in Chicago and is a graduate of the University of Illinois at Chicago, where he received his Ph.D. and M.A. in Economics; and North Central College, where he received a B.S. in Economics and Finance. Dr. Decker’s works predominantly in the Financial Services and Financial Transactions Transfer Pricing practice and is becoming a national expert on treasury-related transfer pricing issues and has assisted treasury and tax teams in designing, pricing, and documenting transactions including intercompany revolvers, loans, cash pooling, and other financial instruments. Dr. Decker is also experienced in performing macro- and microeconomic research and analyses relating to a variety of issues including transfer pricing adjustments in recessionary environments, the economic useful life of advertising, incentives within licensing arrangements, and profit split methodologies encompassing multiple taxing jurisdictions. He may be contacted at ryan.m.decker@us.pwc.com.

Dr. Lorraine Eden is Professor of Management and Mays Research Fellow in the Mays Business School at Texas A&M University. At Texas A&M, Prof. Eden teaches courses on multinational enterprises (MNEs), transfer pricing (the pricing of transactions within MNEs), and the economics of international business. Over 100 of her former students are networked through the LinkedIn group Transfer Pricing Aggies. She has 150+ scholarly publications, including articles in Academy of Management Journal, Academy of Management Review, Canadian Journal of Economics, Journal of International Business Studies, and Organization Science. Her best-known book is Taxing Multinationals: Transfer Pricing and Corporate Income Taxation in North America (University of Toronto Press, 1998). She has been a Fulbright Scholar, a Pew Fellow, and a receiver of multiple teaching, research and professional awards including election as a Fellow of the Academy of International Business (AIB) in 2004 and receipt of the AIB President’s Award in 2012. She is the founder of WAIB (Women in the Academy of International Business), an organization with 1600 members worldwide, and former Editor-in-Chief of the Journal of International Business Studies, the top scholarly journal in the field of international business. She may be contacted at leden@mays.tamu.edu.

Rocco V. Femia is a member of Miller & Chevalier, Chartered. His practice focuses on international tax planning for domestic and foreign-based enterprises, and on assisting such enterprises in avoiding or resolving controversies with the Internal Revenue Service and foreign tax authorities involving U.S. international tax rules, transfer pricing, and U.S. tax treaties. Mr. Femia is a former Associate International Tax Counsel at the U.S. Department of the Treasury, Office of Tax Policy. Mr. Femia is a former Adjunct Professor at the Georgetown University Law Center. Mr. Femia graduated from Georgetown University Law Center in 1995. He received his B.A. in Economics from Duke University in 1991. He may be contacted at rfemia@milchev.com.

David Fijol is a Principal in PwC’s transfer pricing practice based in Chicago. David’s transfer pricing experience in the United States and Ireland includes business transformations, Advance Pricing Agreements, Competent Authority disputes, audit defense, restructuring, planning and contemporaneous documentation. He also has extensive experience with business transformation of manufacturing operations. Admitted into the partnership in 2014, David was previously part of our Washington DC- based, National Tax Services Transfer Pricing group and completed a two-year secondment with PwC Ireland. He may be contacted david.r.fijol@pwc.com. His contributions include chapter 4 Finding and Selecting Comparables and chapter 6 Resale Price Method (RPM) and Alternatives to Traditional Buy-Sell Distributors.

Paul Flignor, a Principal with DLA Piper US (LLC), is an expert in intercompany pricing and intellectual property valuation, and has over 15 years of professional experience in resolving pricing and valuation issues in the areas of international tax planning, controversy resolution, transaction support, licensing, and financial economics. He is noted particularly for integrating business strategy and financial economics to solve complex valuation problems of leading companies. Before coming to DLA Piper, Mr. Flignor was a partner with PricewaterhouseCooper’s transfer pricing and valuation practice and he also was a principal in the strategy and economic consulting practice at A.T. Kearney, a leading international management consulting firm. He is an adjunct professor at Northwestern University where he teaches courses in business and law.

Megan Fullerton is a first year candidate for her Juris Doctorate degree at Texas A&M School of Law. She received her B.A. in Economics from The University of Texas at Austin and specializes in transfer pricing under the instruction of Professor William Byrnes. She assists Professor Byrnes as a publication editor for Practical Guide to U.S. Transfer Pricing.

Sean Foley is a Principal with KPMG LLP and the Global Leader of KPMG’s Global Transfer Pricing Services. Mr. Foley has over 20 years assisting multinational enterprises with international tax and transfer pricing issues. Before joining KPMG, Mr. Foley was the Director of the IRS Advance Pricing Agreement Program, and a special counsel to the IRS Chief Counsel (International). He clerked for Justice Ruth Bader Ginsburg when she sat on the D.C. Circuit and served as Legislative Director to Congressman Sander Levin, currently the ranking member of House Ways and Means Committee. Mr. Foley has been an adjunct professor in the LL.M. programs at the Georgetown University Law Center and the University of Florida. He is a past chair of the American Bar Association Transfer Pricing Committee. Mr. Foley has a B.S. in Chemistry and Economics from the University of Michigan, and a J.D. summa cum laude and a LL.M. with honors from the Georgetown University Law Center. He may be contacted at sffoley@kpmg.com.

Carlos Fernando Perez Gautrin is an International Tax Adviser and Associated Partner with CBA Cross Border Associates. Carlos is personally in charge of leading the CBA practice for San Francisco, Silicon Valley and Greater Sacramento areas. Formerly, Carlos had responsibility for the transfer pricing policy, documentation and method determination procedures applicable to the worldwide operation of Lexmark International, Inc. Previously, Carlos worked as International Tax Manager for VeriSign, Inc., Senior Tax Researcher for the International Bureau of Fiscal Documentation (IBFD) in Amsterdam, Netherlands, and practiced tax law in major legal firms. Carlos can be contacted at c.perez-gautrin@cba.associates.

Christopher S. Hanfling is an associate in the tax group at the law firm of Jones Day. Before joining Jones Day, Mr. Hanfling was an editor of Tax Law Review at NYU, and received the Bruce I. Hochman Award for Excellence in the Study of Tax Law from UCLA School of Law. He may be contacted at chanfling@jonesday.com.

Steven P. Hannes is a partner in the law firm of McDermott Will & Emery LLP based in the Washington, D.C. office. As a member of the McDermott Tax Department, he focuses on advising U.S. and foreign based multinational corporations on structuring their cross-border transactions, as well as representing multinationals in tax controversies. Mr. Hannes founded and chairs the Transfer Pricing Discussion Group, which consists of U.S. and foreign-based multinationals who meet regularly to discuss transfer pricing and related matters. He founded the Transfer Pricing Discussion Group for multinationals. Prior to entering private practice in 1982, Mr. Hannes was the associate international tax counsel in the Office of the Assistant Secretary (tax policy) of the U.S. Department of the Treasury. Before joining the Treasury, he was chief of the international rulings group in what was then called the Office of the Assistant Commissioner (technical) of the IRS. He is a former president of the USA Branch of the International Fiscal Association and a member of its Executive Committee. He received his J.D. in 1970 from New York University’s School ofn Law and his B.A. in 1967 from Amherst College. He may be contacted at shannes@mwe.com.

Stuart L. Harshbarger, Ph.D. is a Vice President in NERA’s transfer pricing and intellectual property practices. He has been qualified as an expert in economics before Federal and State courts, testifying on antitrust, breach of contract, and product liability matters. He has extensive tax audit and controversy experience in transfer pricing and business valuation in the United States and elsewhere. Prior to joining NERA, Dr Harshbarger worked for PwC, DRI/McGraw-Hill, Argonne National Laboratory, the Washington Gas Light Company, and the US Department of Energy. Dr Harshbarger established the Marsh & McLennan and NERA Economic Consulting Lecture Series on Current Economic Events at The George Washington University where he also established and chaired the Economics Alumni Advisory Committee. He is the past Vice President and Program Director of the National Economist Club in Washington DC. His publications include the chapter, Application of Profit Split Method to Business Service Providers, in Lexis’ Practical Guide to U.S. Transfer Pricing, and articles in BNA Tax Management Transfer Pricing Report, International Tax Review, Journal of Computers and Operations Research, Energy Economics, and Public Utilities Fortnightly. He received his PhD in economics from The George Washington University, and his BA in economics, with honors in economics, from Indiana University, Bloomington. He may be contacted at Stuart.Harshbarger@nera.com.

Susanna Hartanto is a lecturer in Business Faculty, Accounting Department of Widya Mandala Catholic University, Indonesia since 2014. She teaches some subjects including International Taxation, Tax Planning, Taxation I & II, Taxation Accounting, Auditing, Budgeting and Financial Reporting. She had undergraduate degree in Accounting and graduate degree in Strategic Management from Widya Mandala Catholic University, Indonesia with cumlaude predicate for both. She also works as Accounting and Tax Manager of CV Trisno Adi, a Tobacco Company in East Java, Indonesia since 2005. While working and teaching, she is also part time tax consultant for companies in some industries like jewelries, consumer goods, sanitary and building materials, theme parks, etc. She may be contacted at cvtasusan@yahoo.com. Contribution includes chapter 33: The Value Chain: A Study Of The Tobacco Industry.

Karina Siegel Haum is of counsel to Al-Sarraf & Al Ruwayeh in Kuwait. She received a Bachelors Degree from the University of California, Irvine, in 1982, a Juris Doctorate from the University of California, Los Angeles, in 1985, and an LLM in Taxation from New York University, in 1987. Before joining Al Sarraf & Al Ruwayeh in January 2008, Karina was a partner with an international law firm in New York City. Her areas of expertise include international taxation, mergers and acquisitions, private equity and cross border transactions. She is widely published, in both English and German, in the areas of international taxation and private wealth planning. Karina is fluent in German, English and French.

Gary K. Heald, Jr. is the Director of Special Projects at Georgetown University Law Center and was formerly the Director of the Executive Tax LL.M. at Georgetown University Law Center, and oversaw all online degree programming and development for Georgetown University Law Center’s Office of Graduate Programs. He was formerly a Special Assistant Attorney General for the State of Illinois, Department of Revenue where he litigated cases in individual income tax, corporate income tax, state transfer pricing, sales and use tax, and property tax on behalf of the State of Illinois. Mr. Heald, Jr. received his J.D. from the University of Pittsburgh, School of Law and his LL.M. in Taxation (with a Certificate in State & Local Taxation) at Georgetown University Law Center. Gary Heald, Jr. may be contacted at gary.heald@law.georgetown.edu.

Dr. Harlow N. Higinbotham is senior vice president of the international consulting firm NERA Economic Consulting where he applies his expertise to the intercompany pricing controversies encountered by NERA’s clients around the world. He is a Ph.D. economist and Chartered Financial Analyst (CFA) with more than 25 years of consulting and research experience in the public, private, and academic sectors. Dr. Higinbotham received a Ph.D. in economics from the University of Chicago and an A.B. in applied mathematics from Harvard University, in addition to graduate studies at the London School of Economics. He has published extensively on the subject of transfer pricing and is a frequent speaker at industry conferences. He has also served as an expert witness in a variety of government proceedings related to cost determination. He may be contacted at Harlow.Higinbotham@NERA.com.

Dr. Thomas Horst is the founder and a Managing Director of Horst Frisch Incorporated, an economic consulting firm in Washington, D.C. He specializes in transfer pricing of U.S. and foreign-based multinationals, analyses of the economic substance of complex agreements and transactions, and U.S. Federal Energy Regulatory Commission regulation of oil pipelines. In addition to advising private- and public-sector clients, Dr. Horst has testified as an expert witness before the U.S. Tax Court in four transfer-pricing cases, a case involving the apportionment of interest expense between foreign and domestic income, and a case addressing the income tax consequences of a complex partnership agreement. He testified in the Superior Court of Justice of Ontario, Canada, about the impact of transfer pricing on a Canadian subsidiary’s minority shareholders. Dr. Horst has also testified several times before the FERC on cost-of-service and other regulatory issues involving oil pipelines. Prior to establishing Horst Frisch in 1988, Dr. Horst conducted a similar consulting business at Deloitte Haskins & Sells (now Deloitte) and at Taxecon Associates, Inc. He was the Director of the International Tax Staff at the U.S. Treasury Department from 1977 until 1981. Before 1977, he served on the faculty of Harvard University and the Fletcher School of International Law and Diplomacy at Tufts University, and was a Research Associate at The Brookings Institution. He has published several books and articles mainly addressing various transfer-pricing and international tax issues. Dr. Horst received his Ph.D. and M.A. in Economics from the University of Rochester and his B.A. from Amherst College. He may be contacted at thorst@horstfrisch.com. Contribution includes chapter 9: Comparable Profits Method.

Greg Johnson joined Global Capital Advisors as Managing Director in 2013 following a 23-year career at Bank of America, where he held a variety of positions, including Head of International Debt Capital Markets. Greg’s experience includes tens of billions of dollar equivalent transactions in multiple currencies and encompasses issuance from companies located in twenty different countries. His transactional experience includes both public and private issues of investment grade and high yield securities and includes numerous “first-of-their-kind” transactions involving structural as well as market innovation. He has his MBA from the Wharton School and his BSEE from the University of Virginia. He may be contacted at gjohnson@globcapadv.com.

Michelle Johnson is a Managing Director of Duff & Phelps. She has significant experience advising clients on transfer pricing and valuation matters—including ASC 740 (FIN 48) recognition and measurement analyses, advanced pricing agreements, cost-sharing analyses, buy-in valuations, supply chain restructuring, and tangible and intangible transfer pricing documentation. She has consulted with companies in such wide-ranging industries as financial services, technology, pharmaceuticals, retail, and many others. Previously, Mrs. Johnson led the development of Ceteris’ FIN 48 service line and pioneered several thought leadership publications on behalf of the firm. She is an award-winning speaker and has presented at numerous conferences and seminars regarding transfer pricing issues. She served as co-editor of Wolter Kluwer’s Guide to International Transfer Pricing: Law, Compliance and Tax Planning Strategies, and is co-author of BNA Tax Management Portfolio on ASC 740-10 (FIN 48) and transfer pricing.

Nima Khodakarami is pursuing his Doctorate in Human Resource Development at Texas A&M University. Mr.Khodakarami received a MBA from Universiti Teknologi Malaysia and a M.S. in Agricultural Economics from Texas A&M University wherein he studied transfer pricing. Professionally, he worked as a Project Analyst at MTN Group, a South Africa-based multinational mobile telecommunications company. He may be contacted at nima@tamu.edu.

Dr. Ted Keen holds a Ph.D. in economics and now serves as an independent expert for clients regarding transfer pricing matters. Dr. Keen formerly led the economics side of EY transfer pricing practice in the UK, and previously was a partner of KPMG and a Vice President of Charles River Associates. His experience is in all aspects of transfer pricing with a particular focus on the pharmaceutical industry. He may be contacted at ted@tedkeentransferpricing.com. His contribution includes chapter 8: Transfer Pricing Rules and Methods for Intangible Property.

Karl L. Kellar is a partner at the law firm of Jones Day. His practice focuses on a wide variety of international and domestic tax issues arising in cross-border transactions, including transfer pricing, tax planning for international transaction flows, structuring international business operations, and resolving tax disputes with the IRS and foreign governments. Mr. Kellar has advised multinational corporate groups concerning the restructuring of their U.S. operations. He has also advised U.S.-based companies in structuring their foreign operations, including issues associated with closing foreign operations to achieve a more tax-efficient structure, and the transfer of intangible assets offshore. Before joining Jones Day, Mr. Kellar was the acting director of the IRS Advance Pricing Agreement (APA) Program. He also represented the United States before the Organization for Economic Cooperation and Development (OECD). Earlier, Karl Kellar was a tax litigator for the United States Department of Justice, and he has extensive experience in tax controversy matters at the administrative level and in federal courts. He may be contacted at klkellar@jonesday.com.

Charles Edward Andrew Lincoln, IV, is currently the chapter update editor for LexisNexis’ Foreign Tax & Trade Briefs (Greece, Cyprus, Finland, and Iceland), Wolters Kluwer’s International Trust and Company Laws & Analysis (Greece). He also edits LexisNexis’ Guide to FATCA Compliance (Greece). Previously, Charles Lincoln worked as a tax policy adviser at Loyens & Loeff in the Amsterdam office. In 2017, Charles completed his LL.M. study in International Tax Law at the University of Amsterdam. In 2016, Charles received his Juris Doctor from Texas A&M University School of Law after completing his bachelor’s degree from Harvard University, cum laude, in 2013. He may be contacted at charlieealincolniv@yahoo.com. His contribution includes chapter XX: Diverging Adherence to Contracts of BEPS and the US Tax Court Approach Regarding Risk Allocation.

Barbara Mantegani, Esq. is a transfer pricing advisor with more than twenty years of experience in both the private sector and the Internal Revenue Service Competent Authority office. Her experience with the IRS U.S. Competent Authority office and Advance Pricing and Mutual Agreement Office included negotiating the settlement of numerous double tax cases and advance pricing agreements with tax authorities from Japan, India, Denmark, Belgium and Canada. Outside of government, Barbara has worked with Baker McKenzie, Grant Thorton, KPMG and Deloitte. She may be contacted at barbara.mantegani@mantegani-tax.com. Her contribution includes chapter 22: Competent Authority to Avoid Double or Excessive Taxation From Transfer Pricing Adjustments.

Sam Maruca, Esq. is a partner of Covington & Burling, resident in its Washington, D.C. office. From 2011–2014, Mr. Maruca served as the first Director of Transfer Pricing Operations in the Large Business & International Division of the Internal Revenue Service, where he had national responsibility for transfer pricing compliance and double tax cases under US tax treaties. Since 1983 he has practiced broadly and exclusively in the area of federal income tax, focusing in recent years on large-case controversies, including complex transfer pricing disputes. He has represented both US and foreign-based multinational companies in the pharmaceutical, bio-tech, communications, heavy manufacturing, entertainment, and retail sectors, in matters at the audit level, in IRS Appeals, in mediation, in competent authority, and in the courts. He may be contacted at SMaruca@cov.com.

Ethan D. Millar is a partner at the law firm of Alston & Bird LLP. His practice focuses on multistate tax and unclaimed property law, and he represents major business entities across the U.S. in audits, administrative appeals, litigation, and corporate transactions, including mergers, acquisitions, restructurings, liquidations, joint ventures, and public and private securities offerings. Mr. Millar has served as an adjunct professor at Emory University School of Law, where he taught a class on multistate taxation, and has also served on the faculty for state income tax schools conducted by the Council on State Taxation and the Institute of Professionals in Taxation. He also serves as Chair of both the State and Local Tax Subcommittee and the Unclaimed Property Subcommittee for the Business Law Section of the American Bar Association. Mr. Millar received his J.D. from UCLA Law School, Order of the Coif, and also graduated, summa cum laude, from UCLA with a B.S. in Mathematics/Applied Science and Economics. He may be contacted at ethan.millar@alston.com. Contribution includes chapter 26: State Tax Transfer Pricing Issues.

Jerrie Mirga is a Vice President of Economic Consulting Services, LLC. Since the early 1990s, her work has focused on transfer pricing economics. She advises clients on transfer pricing issues involving intangibles, services, and tangible property and prepares transfer pricing analyses for many purposes, including planning, U.S. and non-U.S. documentation, Advance Pricing Agreements, and dispute resolution during audits and Appeals. Ms. Mirga received her B.A. from the College of William & Mary and her M.B.A. from the George Washington University. She may be contacted at Jerrie.Mirga@economic-consulting.com.

James R. Mogle is a retired partner of the law firm of Mayer, Brown & Platt, where he was a member of the Tax Controversy Group. He is a former international tax counsel for the Treasury Department, where he was responsible for the development of the 1993 Section 482 Regulations, as well as a former chief tax officer with General Motors Corporation. He is also a former partner with PricewaterhouseCoopers. He received a B.S. from Northwestern University, an M.B.A. from Stanford University, a J.D. from American University, and an LL.M. (tax) from George Washington University.

Bill Morgan is a Managing Director of Horst Frisch Incorporated, an independent economic consulting firm based in Washington, DC. In over 20 years at Horst Frisch, he has performed work across many industries and provided expert advice on a diverse set of transfer pricing cases. Prior to rejoining Horst Frisch in 2015, Mr. Morgan served for over three years as the Chief Economist and adviser to the Director of Transfer Pricing Operations in the Large Business & International division of the Internal Revenue Service. He has published articles on timely transfer pricing issues, been a guest speaker at various industry conferences, and testified before the U.S. Congress House Committee on Ways & Means as an expert on transfer pricing matters. Has has an undergraduate economics degree from Vanderbilt University and an M.B.A. from the University of Michigan. He can be contacted at bmorgan@horstfrisch.com. Contribution includes chapter 9: Comparable Profits Method.

Matthew P. Moseley is a senior associate in Alston & Bird’s Federal & International Tax Group. Mr. Moseley concentrates his practice on the U.S. taxation of various types of domestic and cross-border transactions and on transfer pricing matters. Mr. Moseley is a graduate of the University of Virginia, from which he received his B.S. in Chemical Engineering. He received his J.D. from the University of California, Hastings College of the Law, and an LL.M. in taxation from Georgetown University Law Center. He may be contacted at matthew.moseley@alston.com.

Carlos Navarro is a graduate student of International Affairs at The Bush School of Government and Public Service, Texas A&M University. His master’s concentration is International Development and Economic Policy. He received a B.A. in Economics from The University of Texas—Pan American (UTPA) in 2013. Before joining the Bush School, Mr. Navarro worked as a Research Associate and surveying supervisor at UTPA’s Center for Survey Research, where projects focused on studying the social, political and economic aspects of the Rio Grande Valley. He was also an intern for the Economic Analysis and Research Network where he worked at Working Partnerships USA, a leading think-tank of Silicon Valley. He may be contacted at fcolon@tmslaw.tsu.edu.

Mark Nichols, Managing Director and Founder of Global Capital Advisors, LLC (“GCA”), has over 20 years of experience in the U.S. private placement market. As a Managing Director at Banc of America Securities (1994 to 2007), Nichols was responsible for structuring, executing and distributing largely cross-border debt private placements. In February 2008, Nichols founded GCA, an independent advisory firm focused on Debt Private Placements Advisory, Ratings Advisory, and Debt Transfer Pricing Advisory with offices in New York, Charlotte, North Carolina, Edwards, Colorado and Melbourne, Australia. Nichols received a BA from Dickinson College and a MA, MALD from The Fletcher School of Law and Diplomacy. He serves on the Board of Advisors of The Fletcher School at Tufts University and is on The Council and Investment Committee of the New England Historic Genealogical Society. GCA is a Corporate Member of the Association of Corporate Treasurers (UK).

Dr. K. Olsen is a Chartered Global Tax Practitioner, a Chartered Transfer Pricing Specialist and a partner in Dr. K. Olsen Global Tax UK / Norway, a company that was voted as a world leading tax firm in 2015 by World Tax 2015. Mr. Olsen has 35 year of experience in taxation and specializes in international taxation, Transfer Pricing, petroleum taxation and global tax risk management. He is also a Certificated Lead ISO Auditor and has developed a system for ISO certification for Transfer Pricing, tax, VAT & customs. He may be contacted at knut.tax@gmail.com.

Michael T. Petrik is chair of Alston & Bird’s State and Local Tax group. Mr. Petrik concentrates his practice on multistate tax planning for businesses, including income tax, franchise tax, sales/use tax, and other state and local taxes. He also maintains an active administrative tax dispute and negotiation practice, including audit appeals, the negotiation of special filing or apportionment methods, and voluntary disclosure “amnesty” applications. Mr. Petrik received his J.D. in 1983 from Duke University School of Law and his B.A. and B.S. degrees in 1979 from Eastern Illinois University. He may be contacted at mike.petrik@alston.com. Contribution includes chapter 26: State Tax Transfer Pricing Issues.

Whitney Pilch is a tax associate with KPMG’s international tax department, completed her LLM, Tax (University of Florida) and her Juris Doctorate and Master of Business Administration. Her specialization, under the tutelage of Professor William Byrnes, is international taxation from a Latin American perspective. Whitney is an update contributor for Foreign Tax and Trade Briefs, and Professor Byrnes’ publication editor for Practical Guide to U.S. Transfer Pricing and for Lexis Guide for FATCA Compliance. She may be contacted at whit.pilch@gmail.com.

Bob A. Rutkowski is a Vice President with Duff & Phelps, LLC’s Transfer Pricing group in Boston. His work with Duff & Phelps has involved advising clients on a variety of transfer pricing, economic, and valuation issues, with a focus on U.S. and foreign transfer pricing documentation, advanced pricing agreements, global transfer pricing planning and implementation analyses, and intellectual property valuation matters. Mr. Rutkowski is a graduate of Colgate University, from which he received his B.A. in Mathematical Economics.

Dr. George L. Salis is a recognized economist and lawyer specializing in the area of international economic law, including trade, global taxation, and transfer pricing. Presently, he serves as Principal Senior—Tax Compliance at Vertex, Inc., one of the top tax software companies in the world. He is an adjunct professor of Texas A&M University School of Law for transfer pricing and international tax risk management courses as well as an adjunct professor of international taxation and of the transfer pricing concentration at Thomas Jefferson School of Law’s Graduate International Taxation Program in San Diego, California. Dr. Salis received his Ph.D. (Union) in International & Comparative Law & Economic Policy, and his LL.M. with Honours (Magna Cum Laude) (Thomas Jefferson) in International Taxation and Financial Services. He read law at the University of Wolverhampton and iIn 1998, he received his LL.B. Honours law degree at the University of Wolverhampton School of Law in England, and later received the Specialist Diploma in European Union Law from Holborn College London & Oxford University. He earned an M. A. in Legal & Ethical Studies from The University of Baltimore, in 1988. He also holds two Bachelor’s degrees, one in in Economics & Political Science (dual concentration) with HonoursHonors, and another in Philosophy & Humanities. In 2014, he attended the Academy of European Law at the European University Institute (Florence, Italy) and received its Advanced Certificate in EU Law. He may be contacted at George.Salis@vertexinc.com.

Shubhana Sattar is a Senior Associate in PwC’s global Transfer Pricing practice in Chicago. Shubhana works with multinational clients on implementing transfer pricing policies and developing solutions to more effectively monitor transfer pricing results. She has experience in a variety of transfer pricing areas including global transfer pricing documentation, planning, implementation, value chain transformation and intercompany loan and interest rate analyses. Her experience includes assisting clients across various industries including technology, industrial products, consumer and retail. Shubhana holds a Master of Science in Applied Economics (MSAE) degree from Marquette University. She may be contacted at shubhana.r.sattar@pwc.com.

Emily W. Sanborn is a VP with Duff & Phelps, LLC’s Transfer Pricing group in Atlanta. Emily’s work with Duff & Phelps involves assisting clients in determining the arm’s length pricing of controlled transactions and implementing global transfer pricing policies. Emily has prepared U.S., OECD, and local country transfer pricing documentation for tangible, intangible, and service transactions. Emily has also assisted in the design, preparation, and management of worldwide comparable company analyses, transfer pricing litigation support, and management fee analyses. Emily has worked in a broad range of industries including technology, software, industrial, oil and gas, and consumer products. She is a graduate of Emory University, where she received her degree in Economics and Chinese Studies.

Mark W. Schuette is a Managing Director with Duff & Phelps, LLC’s Transfer Pricing group in Atlanta. Mark’s work with Duff & Phelps includes consulting with clients on business accounting, tax, and valuation issues. He has conducted transfer pricing studies for global companies located across a six-state region, and is regularly sought out for his expertise with state and local tax transfer pricing matters. In addition, he has more than five years of experience providing litigation services to attorneys and their clients, including preparing for and participating in trial depositions and delivering expert witness testimony. Mark is a frequent speaker on transfer pricing topics and co-authored the BNA Tax Management Portfolio on Accounting for Uncertain Tax Positions in Transfer Pricing under ASC-740 (FIN 48) published in 2012. Mark received both his undergraduate degree and M.B.A. from Loyola University Maryland, and is a member of the American Institute of Certified Public Accountants.

Ralph H. Sheppard is a partner in Meeks, Sheppard, Leo & Pillsbury, with offices in New York, Connecticut and California. Since 1986, his practice has involved giving advice and assistance on import and export law to both domestic and foreign companies. Since 1986, his practice includes representation of importers and exporters before U.S. Customs and Border Protection, the Department of Commerce and the Court of International Trade and other Federal agencies and courts. He received his undergraduate degree from the University of Vermont and his law degree from the Washington College of Law of the American University, Washington, D.C. After law school, Mr. Sheppard served as a prosecutor in Vermont and New York City. He may be contacted at Ralph.Sheppard@mscustoms.com.

Cameron Taheri is a Senior Manager in KPMG’s Transfer Pricing Dispute Resolution Group. He specializes in resolving transfer pricing disputes on behalf of multinational corporations, including Advance Pricing Agreements, Competent Authority settlements, and Examination and Appeals. Previously, Cameron was a Team Leader in the Advance Pricing and Mutual Agreement Program (APMA) at the Internal Revenue Service and began his transfer pricing career at Ernst & Young LLP. Cameron has a B.A. from the University of Texas and his J.D. from Northeastern University School of Law. He may be contacted at ctaheri@KPMG.com.

Debora De Souza Correa Talutto is the International Transfer Pricing Manager at Temenos Banking Software Co., and formerly a tax consultant at Deloitte/Brazil. Mrs. Correa-Talutto is the author of the Brazilian chapter in the Lexis publication Foreign Tax and Trade Briefs, the Brazilian chapter of LexisNexis’ Guide to FATCA Compliance, as well as the Brazilian chapter for the Lexis Anti Money Laundering, Asset Forfeiture, and Recovery publication. Mrs. Correa Talutto is pursuing her Doctorate in Juridical Science (S.J.D) in International Taxation at University of Florida. She holds a LL.M. in International Tax from University of Florida, a MBA, a post-graduate degree in Brazilian taxation, and an LL.B. (Brazil). She is a professor of the transfer pricing concentration at Thomas Jefferson School of Law’s Graduate International Taxation Program, and also an adjunct professor for the transfer pricing curriculum of Texas A&M University School of Law. She may be contacted at ddesouza@temenos.com. Her contributions include Chapter 13: Cost Sharing Arrangements.

David R. Tillinghast is Of Counsel in the New York office of Baker & McKenzie LLP. His practice includes the tax aspects of domestic and international transactions, including mergers and acquisitions, securities offerings, investment funds, joint ventures and leasing, project and other types of financings, as well as transfer pricing and related issues. Mr. Tillinghast served as a member of the Permanent Scientific Committee of the International Fiscal Association from 1983 to 2000 and as its Chairman from 1995 to 2000. Mr. Tillinghast is a graduate of Brown University and Yale Law School. In 1996, the New York University School of Law Masters Program in International Taxation established in his honor the David R. Tillinghast Lectures on International Taxation.

Dr. Mario Tenore, CA, is an associate at Maisto e Associati (Milan office). He was admitted to the Association of Chartered Accountants in 2009 and joined Maisto e Associati in 2010. He holds a Ph.D. in tax law and obtained an LL.M. Degree in international tax law from the University of Leiden, The Netherlands. His main areas of competence are corporate taxation, European and international tax law. He has extensively published in the field of International and European tax law. He may be contacted at M.Tenore@maisto.it. Contribution includes chapter 34: State Aid.

Emin Toro is a partner in the law firm of Covington & Burling LLP. His practice concentrates on controversies involving multinational corporations. He received a B.A., summa cum laude, from Palm Beach Atlantic College in 1997, and a J.D., with Highest Honors, from the University of North Carolina at Chapel Hill in 2000, where he was an editor of the North Carolina Law Review. Mr. Toro served as a law clerk to Justice Clarence Thomas of the U.S. Supreme Court (2002–2003) and to Judge Karen LeCraft Henderson of the U.S. Court of Appeals for the D.C. Circuit (2000–2001). He may be contacted at etoro@cov.com.

Robert Weiss is a Managing Director and Head of Ratings and Debt Transfer Pricing for Global Capital Advisors. He brings over 32 years of experience in corporate debt ratings. Previously, he was Managing Director and Head of Global Ratings Advisory at Banc of America Securities (BofA). Bob has worked with clients across all global industries focusing on new ratings, advice on ratings defense situations, evaluating the ratings impact of strategic/financial actions, and comprehensive documentation supporting the standalone ratings for subsidiaries of multinational companies to determine pricing of intercompany debt. Robert has provided expert witness testimony in debt transfer pricing litigation. Pre-BofA, he worked at S & Ratings Group as Global Energy Team Leader, and in the natural resources and consumer products industries in financial and strategic planning functions.

Reeves C. Westbrook is a partner in the law firm of Covington & Burling LLP and co-chair of its tax practice group. His practice concentrates on controversies involving multinational corporations. He received a B.A., magna cum laude, from Vanderbilt University in 1971, and a J.D. from Yale University in 1974. Mr. Westbrook is a vice-chair of the taxation section of the International Bar Association.

Andrew Yates is an associate in Alston & Bird’s State & Local Tax Group. Mr. Yates assists clients in a wide range of tax controversy matters, including appeals before state administrative agencies, courts and the IRS. He advises clients on securing and defending property tax appeals and exemptions, on sales/use tax, income tax and excise tax matters in jurisdictions throughout the country, including work with the taxation of cloud transactions and structuring the state tax affairs of international clients. Mr. Yates received his J.D. from Duke University School of Law, a Master of Divinity from the Candler School of Theology at Emory University, and a B.A. in English from Birmingham-Southern College. He may be contacted at Andy.Yates@alston.com. Contribution includes chapter 26: State Tax Transfer Pricing Issues.

Tetiana Zakrevska is a transfer pricing economist and a Fulbright Scholar. In 2016, Tetiana completed her Master Program in International Affairs at The Bush School of Government and Public Service, Texas A&M University, specializing in International Economics and Public Policy & Multinational Enterprises. Previously, Tetiana worked as transfer pricing consultant at EY NYC transfer pricing practice with a focus on the life science industry. Her prior experience relates to strategic conventional energy projects in Ukraine, as well as economic diplomacy. She also updates a chapter about the corporate tax system of Ukraine for LexisNexis’ Foreign Tax & Trade Brief. Tetiana may be contacted at tetiana.zakrevska@gmail.com. Her contribution includes chapter 9A: Berry Ratio.

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