The US IRS has advised that it is willing to assist taxpayers that have executed an advance pricing agreement (APA) or that have a pending APA with technical issues concerning transfer pricing during periods of economic distress. The IRS also said it will discuss these issues with treaty partners.
Moreover, the IRS has temporarily relaxed requirements for APA and mutual agreement procedure (MAP) document signatures and other filing requirements
The new procedures are outlined in an announcement dated May 11.
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