Transfer Pricing

By Kevin Pinner

French finance minister Bruno Le Maire and U.S. Treasury Secretary Janet Yellen said Friday a deal to reform international taxation must be finished next month even without consensus among negotiators, according to France's Ministry of the Economy and Finance.

By Molly Moses

Companies should look to bottom-line profits in determining which transactions they propose to cover in advance pricing agreements with the Internal Revenue Service, John Hughes, director of the agency's Advance Pricing and Mutual Agreement Program, told Law360 on Wednesday.

By Kevin Pinner

The European Union will take action this year to limit the use of shell entities to avoid taxes, including by denying associated tax breaks to companies, the director of the bloc's tax authority said Wednesday.

By Natalie Olivo

Drugmaker Amgen is challenging a $3.6 billion tax bill in the U.S. Tax Court, accusing the IRS of misattributing profits its Puerto Rican subsidiary earned while manufacturing biopharmaceutical products under intercompany license agreements.

By Kevin Pinner

Ten European Union member countries failed to fully implement decadeold rules governing the automatic exchange of tax information to help prevent fraud and money laundering, according to a report adopted by the European Parliament on Thursday.

By Kevin Pinner

The United Kingdom's tax gap reached an estimated £35 billion ($48.2 billion) during the 2019-20 tax year, with tax fraud accounting for more than 40% of that total, according to a pair of studies published Thursday.