VANCOUVER, Oct. 28 /CNW/ - Ernst & Young has been named the number-one
transfer pricing practice in both Canada and North America by International
Tax Review. The firm received the honours at the 2008 International Tax Review
Americas Tax Awards, which recognized the most innovative tax planning,
structuring, litigation and transfer pricing work completed in the past year.
A division of international corporate tax, transfer pricing refers to the
valuation of cross-border transactions between related entities. These
transactions can include goods, services, intangibles and financial
transactions. Transfer pricing has been consistently cited as the top tax
issue facing multinational companies in recent years.
"This is an incredible accolade that really validates the quality of our
national practice and the high level of service we're able to offer our
clients," said Greg Noble, Canadian Market Leader, Transfer Pricing Services
at Ernst & Young. "With more than 60 per cent of global commerce being
conducted between related entities, companies with sound transfer pricing
policies will decrease their risk of double taxation and non-compliance
penalties, while also reducing their overall effective corporate tax rate -
both of which will increase shareholder value."
In total, Ernst & Young won five category awards. The firm was tops in:
- Transfer pricing in Canada
- Transfer pricing in North America
- Transfer pricing practice in Houston
- Tax practice in Argentina
- Tax practice in Venezuela
Noble, who is based in Vancouver, accepted the award on behalf of the
firm's Canadian Transfer Pricing practice at an October 2 gala in New York
City. Montreal Transfer Pricing Partner Alfred Zorzi jointly accepted the
North American award together with Karen Kirwan, an Executive Director in
Ernst & Young's Washington D.C. practice.
About Ernst & Young
Ernst & Young is a global leader in assurance, tax, transaction and
advisory services. Worldwide, our 135,000 people are united by our shared
values and an unwavering commitment to quality. We make a difference by
helping our people, our clients and our wider communities achieve their
potential. For more information, please visit ey.com/ca.
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