Corporate Vision Issue 3 2018

CORPORATE VISION / Issue 3 2018 15 , conferences both in Canada and internationally on transfer pricing matters, and tasks are delegated within the company using a team approach. As for training, this is enhanced by engaging more experienced lawyers with junior lawyers, providing clients with the delegation of tasks for maximum effectiveness. PMR Law looks forward to meeting the challenges of emerging technology and a changing business climate by allying itself with existing and emerging businesses. They are especially proud of the many new clients that are entrusting their technology companies to our advisory services. PMR Law salutes the initiatives of Corporate Vision, and looks forward to reading about the law firm, as well as discovering similar firms in other jurisdictions across the world. Website: www.pmrlaw.ca PMR law is a boutique lawfirmestablished inCalgary, Alberta, Canada in 1992. The firm specialises inbusiness litigation, corporate, real estate and foreclosure law.Within the litigation field, the firmhas a concentration in transfer pricing disputes. Recently, we profiled the successful firm, discovering theways they stay ahead of the game. Protecting Business Interests Since its inception in 1992, PMR Law has been counsel to the taxpayer in various successful cases, before the Tax Court of Canada in transfer pricing disputes. In these decisions, and in many other disputes where the firm has been engaged by the taxpayer, settlement and court decisions have upheld the tax filing positions of the taxpayer, and set aside reassessments made by the Canada Revenue Agency. Taxpayers now face new challenges from the amended guidance to tax authorities as a result of the base erosion and profit shifting project (“BEPS”) of the tax authorities of the world. PMR Law observes that tax authorities have greater tools available to them to challenge transfer pricing, and yet the result of the tools is that opposite tax authorities have logical but conflicting claims to the same profits. The firm stress the need for strategic privileged and confidential advice when facing a transfer pricing reassessment. Transfer pricing disputes are started by a misunderstanding of the relevant facts. The misunderstanding is often compounded by a failure to look at the correct approach to the issues. Both types of failures result in poor communication, and add to the cost and time required to resolve a transfer pricing dispute. The opportunities for dispute resolution in tax appeals arise at two stages. The first one is at the competent authority on a stage. Depending on the nature of the dispute, a taxpayer may be well advised to refer the transfer pricing dispute to the competent tax authorities of countries that have conflicting claims to profits. Competent authority resolution is a negotiation between tax authorities where the role of the taxpayer is to provide sensible advice on the allocation of profits. This process may not be available to a taxpayer in certain deserving cases, especially where outsourcing or a low tax jurisdiction is involved, however the process of the Tax Court of Canada allows a taxpayer to offer its own evidence and reasoning, with respect to a position taken towards transfer pricing. The courts may well be the proper choice when competent authority is not available. It may also be a way of speeding up a lengthy internal appeals process. The Tax Court of Canada has effective dispute resolution and settlement processes, and a well-trained judiciary. PMR Law takes steps to ensure that clients have engaged the firm to obtain the best possible outcome, regardless of the nature of their legal problem. At the client intake stage, the firm analyses the complexity of the issue at hand, and assigns an effective mix of lawyer and staff personnel to the assigned task for optimal, timely project management and resolution. The firm pride themselves on having competitive prices, and a proven track record of excellent results both in litigation and closing transactions. They act on transactions involving the sale of a company, the sale of shares, or the sale of a real estate asset. The main factors that distinguish the firm from its competitors are: their experience and diligence obtained from having acted for significant clients in major matters with successful outcomes over a period of years. At PMR Law, they have a base of clients that appreciate the extra effort that is undertaken to resolve issues at reasonable cost. Receiving the award as Business Law Firm of the Year 2017 Canada represents recognition of the extra effort the firm brings to their everyday tasks. Moving forward, service with excellence will remain one of their top priorities. In the Alberta, Canada market, there have been a great number of challenges presented recently from a pricing and environmental standpoint. The firm’s clients have required advice on quick adaptive strategies to move through changing market demands and requirements. To keep an eye on emerging developments, the firm relies on software and technology for legal research, accounting and specialty publications. These investments are upgraded and maintained. Members of the firm provide commentary at 1802CV08