Transfer Pricing Will Still Be Enforced, IRS Official Says

Law360, Redwood City (March 8, 2018, 7:59 PM EST) -- Even though the U.S. has shifted to a territorial tax system, in which only local income from a source inside a country is taxed, the Internal Revenue Service will keep enforcing transfer pricing, an IRS official said on Thursday.

When President Donald Trump signed the Tax Cuts and Jobs Act, P.L. 115-97, into law on Dec. 22, his simple stroke of the pen resulted in the U.S. no longer using a resident-based tax system. But transfer pricing, the set of rules that govern the pricing of transactions...
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