Cross Border Transactions is a course that will review the topic of cross border transactions. This is a topic that is applicable for business entities doing business in multiple countries. This course will identify the different types of business entities that are likely to have cross border transactions. This course will define the tax impact on foreign revenue and discuss the importance of tax planning. This course will highlight the potential audit risks involved with cross border transactions. This course will discuss the role of competent authority and different methods that can be used to reduce audit risk. Finally, this course will discuss the types of contemporaneous documentation needed when conducting business across borders.
At the end of this course, students will be able to:
- Identify a cross border transaction and be able to discuss potential implications.
- Recognize potential audit risks involved with cross border transactions.
- Identify the role of competent authority, advanced pricing agreements and other alternative methods in reducing audit risk.
- Recognize the types of contemporaneous documentation needed when conducting cross border transactions.
- Recognize strategies to decrease an entity’s effective tax rate.
CPE Credits: 2 CPE for CPAs and EAs
Instructional Method: Self-Study
NASBA Field of Study: Taxes
Program Prerequisites: None
Advanced Preparation: None
Revision Date: April 6, 2021