Co-Chairpersons:
Ward Connolly, Fenwick & West LLP, Mountain View, CA
Bart Bassett, Morgan Lewis LLP, Palo Alto, CA
Monday, July 14th
8:15 am Registration and Continental Breakfast
8:50 am Introduction and Overview of the Conference
9:00 am An In-Depth Look at the Services Regulations
- Practical considerations of implementing the temporary regulations
- New limitations on stewardship
- New documentation requirements
- New rules relating to IP ownership
- Expanded IRS discretion
Ward Connolly, Fenwick & West LLP, Mountain View, CA
10:30 am Refreshment Break
10:45 am Allocation Methods for Income from IP Transfers
- Definition of Intangibles
- The Developer Rule
- Review methodologies for allocations
- Significance of marketing intangibles: Glaxo
Bart Bassett, Morgan Lewis LLP
12:00 pm Luncheon
1:00 pm Effect of § 482 Adjustments on Other Code Sections
- Buy-in impacts on E&P.
- FTC impact
- Interaction with § 965
Rod Donnolly, McDermott, Will & Emory LLP, Palo Alto, CA
2:15 pm Mexico Transfer Pricing Update
- Background and overview of Mexico transfer pricing law
- Recent developments in Mexico transfer pricing law
- Mexican contemporaneous documentation
Ricardo Rendon, Chevez, Ruiz, Zamarripa, Mexico City, Mexico
Oscar Campero, Chevez, Ruiz, Zamarripa, Mexico City, Mexico
3:15 pm Refreshment Break
3:30 pm Canada Transfer Pricing Update
- Recent developments in Canadian transfer pricing law
- Case studies regarding recent IRS – CRA Matters
Blake Murray, Osler, Hoskin & Harcourt LLP, Toronto, Canada
4:30 pm Meeting Adjourns for the Day
Tuesday, July 15th
8:15 am Continental Breakfast
8:45 am Competent Authority Overview and Update
- Background and current developments regarding competent authority
- Situations when competent authority relief can be utilized
- How to initiate the competent authority process
- Persuasive information that should be submitted in the process
- Consequences of failing to use the competent authority process
- Closing a competent authority case
Regina Deanehan, PricewaterhouseCoopers LLP, Washington D.C.
*Former U.S. Competent Authority prior to joining PWC
10:00 am Refreshment Break
10:15 am Overview of Cost Sharing Arrangements
- Review of the current cost sharing regulations
- Compare new proposed cost sharing regulations
- Practical issues associated with drafting cost-sharing agreements
Bart Bassett, Morgan Lewis LLP, Palo Alto, CA
11:15 am Practical Advice on Cost-Sharing Buy-Ins and the IRS’s Current Views
- Calculating and treatment of Buy-Ins
- Discussion of the LMSB CIP on Cost Sharing Buy Ins
- Appeals Settlement Guidelines on Cost-Sharing
Fred Chilton, McDermott, Will & Emory LLP, Palo Alto, CA
12:15 pm Luncheon
1:15 pm Managing Transfer Pricing Audits and Controversies
- Who does the IRS assign to work on transfer pricing controversies?
- What types of documents and information are requested by the IRS in transfer pricing controversies?
- What administrative procedures are used by the IRS to secure documents and information in transfer pricing controversies and what are some best practices for responding to such administrative procedures?
- What avenues can taxpayer’s pursue to challenge an adjustment proposed in a transfer pricing controversy?
- What administrative procedures are followed to close a transfer pricing controversy?
Ward Connolly, Fenwick & West LLP, Mountain View, CA
2:30 pm Refreshment Break
2:45 pm Penalties and the Burden of Proof in 482 Controversies
- What penalties can the IRS raise in transfer pricing disputes?
- Overview of the burden of proof as applied in transfer pricing disputes.
- How does the burden of proof impact the choice of forum for litigation?
Bill Colgin, Morgan Lewis LLP, Palo Alto, CA
3:45 pm Advance Pricing Agreements
- Background and current developments regarding APAs
- The nature of APAs
- Commencing the process and information required
- Negotiating APAs
- Utilization of an APA resolve an examination
- Usefulness of APAs in current environment, including Sarbanes-Oxley and FIN 48 matters
Bob Kirschenbaum, Baker & McKenzie LLP, Washington, D.C.
4:45 pm Meeting Ends