Transfer Pricing Risk Mitigation with ISO 9001 Certification
Article from: OGEL 4 (2014), in Taxation
Summary
The risks associated with transfer pricing have never been as high as they are today, particularly for the energy business, and probably rank among the top three risks faced by multinational corporations in the whole business. One example of these increasing risks is the GlaxoSmithKline settlement with the Inland Revenue Service in the USA a few years ago, when the company had to pay $3.4 billion in tax and had to abandon its claim for a refund of $1.8 billion in overpaid income tax. Many other corporations have faced tax bills amounting to billions or hundreds of millions of USD as a ...