The Duke Center for International Development (DCID) in the Sanford School of Public Policy will again offer a weeklong executive education program dedicated to Transfer Pricing for tax administrators and government officials. The program, held June 11-15 at Duke University, will be led by Peter Barnes, senior fellow at DCID. This is the 5th year of the program at DCID.
“Transfer pricing is the most important and also one of the most controversial issues in international tax today,” Barnes said. “This program will provide tax administrators with insight into the complex world of transfer pricing, and will also equip government officials to develop sound transfer pricing rules that balance the needs of government and business.”
Transfer pricing refers to setting the prices that divisions of a multi-national company use to transact with each other. Within such a company, it is routine for a division in one country to sell goods or provide services to a division in another country. To determine the proper income of each division – and to ensure that each country receives the right amount of income tax – it is essential to determine the proper prices for these related party transactions.
The program is designed to enable professionals in both the public and private sectors to deal with transfer pricing issues in a way that balances the competing needs of raising proper revenue and creating a sound business environment.
Barnes brings more than 30 years of transfer pricing experience to the program. Before joining DCID in 2013, he worked for 22 years as Senior International Tax Counsel with General Electric. Prior to GE, he worked for the U.S. Treasury Department from 1986 to 1991, ending his time there as Deputy International Tax Counsel. He will be joined by other Duke faculty and leading experts in the field of transfer pricing.
“There are hundreds and hundreds of audits going on all around the world. That’s an inefficient way to get the right amount of tax,” Barnes said. “Doing your transfer pricing right the first time is good for business and good for governments.”