Transfer pricing is a high priority enforcement area for the Canadian revenue authorities and those of its major trading partners. As governments intensify their scrutiny of cross-border arrangements and businesses seek growth in foreign markets, transfer pricing risks, and opportunities, grow. In this environment, businesses require sophisticated but practical transfer pricing advice and representation. While transfer pricing has traditionally been considered an income tax matter, increasing border enforcement means that the customs and commodity tax implications of related party imports must be considered in developing and implementing sound transfer pricing policies.
At Bennett Jones, we deliver a unified approach to tax and customs transfer pricing where enterprises transfer goods, services and/or intellectual property across borders. Working collaboratively with economists and other transfer pricing consultants, we seek to maximize transfer pricing benefits for our clients while mitigating risk. Where transfer pricing inquiries or disputes arise, we offer experienced, effective counsel to defend our clients' interests.
Structuring: efficient tax and customs transfer pricing structuring for related party exchanges of goods, services, and/or intellectual property
Contemporaneous Documentation: to meet applicable tax and customs standards
Compliance Review: to identify opportunities and areas of risk and to establish best import practices
Audit Representation: effective advocacy on behalf of taxpayers and/or importers involved in transfer pricing audits and investigations
Competent Authority Negotiations: effective advocacy for taxpayers seeking Competent Authority relief from multiple taxation
Dispute Resolution & Litigation: experienced representation to tax authorities and courts and tribunals at all levels in transfer pricing and related tax and trade litigation
APAs & Rulings: to bring certainty to taxpayers' and importers' arrangements
Voluntary Disclosures: to permit the orderly reporting of prior non-compliance while mitigating exposure to penalties
- Smith Kline Beecham Animal Health Inc. in its litigation in the Tax Court of Canada and Federal Court of Appeal and related settlement of its transfer pricing adjustments.
- Advising a U.S. accessories retailer on the establishment of multiple business lines in the Canadian market involving income tax, GST and customs advice and the commissioning of a transfer pricing study to satisfy contemporaneous documentation requirements.
- Advising a Canadian apparel distributor on the importation of goods, the licensing of IP from a related party and the commissioning of a transfer pricing study to satisfy contemporaneous documentation requirements.
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