Skip to Main Content
 

Tax Notes Quotes Peter Barnes: Governments Urged to Use Transfer Pricing Values to Acquire IP

April 29, 2016, Tax Notes

Peter A. Barnes spoke with Tax Notes Today on how the U.S. and other countries could use eminent domain to acquire intellectual property from multinational companies as a way to minimize tax avoidance. For the complete article, please visit Tax Notes Today's website (subscription required).

Excerpt taken from the article "Governments Urged to Use Transfer Pricing Values to Acquire IP" by William Hoke for Tax Notes Today 

Peter Barnes of Caplin & Drysdale took issue with Blair-Stanek's proposal because he said it assumes that IP rights are singular and easily identified. "In fact, most IP rights are bundled, even in the pharmaceutical world," Barnes said. "In most cases, some IP is transferred at some point in time, and then additional research builds on that initial IP. The original valuation -- which is often approved by the IRS in an advance pricing agreement -- does not value the later-in-time developments." Barnes said "it is unrealistic to assume there are tax valuations for specific IP that can be used when property is taken by eminent domain."

________________________________________________

About Caplin & Drysdale
Having celebrated our 50th Anniversary in 2014, Caplin & Drysdale continues to be a leading provider of tax, tax controversy, and litigation legal services to corporations, individuals, and nonprofits throughout the United States and around the world. We are also privileged to serve as legal advisors to accounting firms, financial institutions, law firms, and other professional services organizations.

The firm's reputation over the years has earned us the trust and respect of clients, industry peers, and government agencies. Moreover, clients rely on our broad knowledge of the law and our keen insights into their business concerns and personal interests. Our lawyers' strong tactical and problem-solving skills - combined with substantial experience handling a variety of complex, high stakes, matters in a boutique environment - make us one the nation's most distinctive law firms.

With offices in New York City and Washington, D.C., Caplin & Drysdale's core practice areas include:

-Bankruptcy
-Business, Investment & Transactional Tax
-Complex Litigation
-Corporate Law
-Employee Benefits
-Exempt Organizations
-International Tax
-Political Law
-Private Client
-Tax Controversies
-Tax Litigation
-White Collar Defense

For more information, please visit us at www.caplindrysdale.com.

Washington, DC Office:
One Thomas Circle, NW
Suite 1100
Washington, DC 20005
202.862.5000
        New York, NY Office:
600 Lexington Avenue
21st Floor 
New York, NY 10022
212.379.6000

___________________________

Disclaimer
This communication does not provide legal advice, nor does it create an attorney-client relationship with you or any other reader. If you require legal guidance in any specific situation, you should engage a qualified lawyer for that purpose. Prior results do not guarantee a similar outcome.

Attorney Advertising
It is possible that under the laws, rules, or regulations of certain jurisdictions, this may be construed as an advertisement or solicitation.

© 2017 Caplin & Drysdale, Chartered
All Rights Reserved.

Related Professionals

Related Practices