Review of The Transfer Pricing of Intangibles (Hardcover)

Since nobody's reviewed this much at all (I only read the TaxAnalyst's review of this book before I even thought of purchasing this) I guess I might as well be the first one on Amazon to review this.

First off just going to state that I'm currently a Master's-Tax, CFA level II candidate that has passed the US CPA exam so I do have some knowledge of this topic, as well as valuation, accounting practices, etc. No real-life experience, however. Basically going to give my perspective on the most of the book I have read so far (otherwise I'll probably forget to review, as I'll be busy after the end of Spring Break). I'm also assuming if you're even here you have some understanding of tax law--without it, this book can be a rather slow read.

First, the bad. While the book itself is quite small--approx. 320 pages, less than full-size hard-cover--and therefore terse, there are times when the points that transfer pricing rules in the various countries are unclear, perhaps unfair, etc. are reiterated way too much. It also talks about documentation to a good degree (a big requirement, as anyone who has any small understanding of T/P would know). However, as a student I expected much more with regard to this and perhaps some prime examples. It basically went on with the fact that the documentations requirements for, say, the US are not only high, but very hazy and therefore leaves companies vulnerable to the IRC Sec. 6662 penalties for TP adjustments. Considering that the book is on TP AND intangibles, I guess the lack of any available real-life examples should not be surprising. (If the book had at least given one descriptive example, even if theoretical, I would have gladly given 5 stars for this review.) Another odd thing was that intangible valuation for taxation purposes was not really per se discussed. As many would call this an art form, I'll refrain from commenting on this, and perhaps the author was just being smart in not discussing it either, as the valuation for such items are often delegated to independent third party valuation houses anyway. Just as an aside though, my understanding is that there are some fairly useful US cases on such intagible valuation/taxation if one looks for it, so it's not so bad.

As for the outline of the book, the first third of the book basically concerns itself with transfer pricing methodologies, the second third documentation requirements/penalties, and the last third mostly on APAs (I guess this part would be important mainly for practitioners with Fortune 500 size clients. The use of APAs, while growing, is only something very specialized practitioners will run into or consider.)

I felt that the recommendations near the end of certain issues were somewhat helpful. The book discusses the merits/shortfalls about global formulary apportionment as a solution to the "arms-length standard" and brings up a concise, and as far as I know, correct, understanding of the formulary apportionment used by the states in the US. I thought this was a nice touch, as reading the Code and pertinent regulations would not lead me to a discussion of such a possible, long-run alternative for the "arms-length standard." There were also occasionally requirements of different countries brought up as well (such as Japan) when they coincided with, for example, the OECD regulations/guidelines. That was a nice touch as well.

In conclusion therefore I found that the book, even though published in 2005, was still quite helpful in giving me more detail about the "logic" and pitfalls of transfer pricing rules in the US and OECD. The writing style is to the point, and leaves a lot of the rules to the footnotes and concentrates on the effect of these rules, somewhat similar to the writing style of Bittker & Eustice (which I like, by the way.) Hard to say if its worth the $150+ retail, considering that it is relatively short for such a tax topic. But at the same time I felt its a lot better than the repetition I often find in large tax books such as those published by Hellerstein. This is the kind of book one reads to get a better understanding, but probably does not really refer to afterwards for said topic. Overall I can definitely discuss this topic much much better now but I'm sure engaging this in the real-world will still be a rough ride. I personally didn't mind shelling out the dough for such analysis.

Hope this helps.

Product Description
<p class="copymedium">Transactions involving intellectual property play an increasingly significant role in economic activity at every level from global to local, with particular challenges for taxation and revenue authorities. Moreover, the manifold complexities associated with identifying, valuing and transferring intangibles make this an issue requiring a creative review of existing transfer pricing methodologies and techniques. In this ground-breaking new study, Michelle Markham offers an in-depth examination of attitudes at the forefront of this rapidly evolving area of taxation law, focusing her work on a comparative analysis of the US, OECD, and Australian perspectives on the transfer pricing of intangible assets.</p><p class="copymedium"><b><i>The Transfer Pricing of Intangibles</i></b><i> </i>not only highlights the current problems encountered in inter-affiliate transactions of intangible property, but also attempts to offer a variety of solutions to these problems. Among the issues explored are the following:</p><p class="copymedium"></p><ul><li class="copymedium">how the tax treatment of intangible in the context of transfer pricing has become a major international tax concern;</li><li class="copymedium">definitional issues which are vital to an understanding of transfer pricing;</li><li class="copymedium">application of the arm's length principle to intangible asset transactions;</li><li class="copymedium">determination of legal and economic ownership of group intangible assets;</li><li class="copymedium">intangible asset valuation and transfer;</li><li class="copymedium">transfer pricing methodologies;</li><li class="copymedium">global formulary apportionment;</li><li class="copymedium">transfer pricing documentation requirements;</li><li class="copymedium">penalties for non-compliance;</li><li class="copymedium">resolution of transfer pricing disputes; and,</li><li class="copymedium">advance pricing agreements</li></ul><p class="copymedium"></p><p>Revenue authorities, multinational enterprise executives, and tax practitioners around the world will greatly appreciate the recommendations and solutions proposed in this knowledgeable and thoughtful book. Its acute sense of the opportunities and pitfalls of an ever-more-complex area of economic activity place it in a category of its own, of inestimable benefit to interested parties.</p><p></p><p></p><p></p><p></p>

Click Here to see more reviews about: The Transfer Pricing of Intangibles (Hardcover)

Review of Digital Evidence and Computer Crime [ILLUSTRATED] (Hardcover)

Sometimes, defense attorneys have it easy: one slip-up by the prosecution and evidence is thrown out. Knowing that, law enforcement goes to great lengths to ensure that evidence is appropriately collected and protected. That works well in the physical world, where law enforcement has many generations' worth of experience. But in the modern world of computers and digital networks, where the simple act of rebooting a computer is enough to wipe out large amounts of evidence, law enforcement clearly needs thorough guidance.

Such a resource is here: Digital Evidence and Computer Crime, an excellent book that details the elements of digital crime. Author Eoghan Casey does a superb job of applying forensic science to computers. The information presented here is critical to a diverse audience: law enforcement, attorneys, forensic scientists, and systems administrators, for instance.

While cybercrime law is in some ways similar to other aspects of criminal law, it nonetheless has its own language and categories. For instance, jurisdiction is a key element in both the physical and digital realms, but it is a much trickier concept in the latter. Casey develops this topic and many more.Those new to computers and networks need not worry: the book begins with an explanation of how they function. With the basics out of the way, Casey details how computers can be used in crime and how the evidence created from these activities can be used for later analysis....The accompanying CD-ROM contains simulated cases that integrate many of the topics covered in the text. In all, the book and CD are an excellent introduction to an increasingly important area of law enforcement.



Click Here to see more reviews about: Digital Evidence and Computer Crime [ILLUSTRATED] (Hardcover)

Review of The Right to Privacy (Paperback)

Today, when voyeurs, marketers, and the curious are invading so many aspects of what has traditionally been considered the individual'sinviolate personal domain, this book is a God-send in helping us understandwhat it is we have with the right to privacy, and also in helping us tofocus on what is so much at risk. While the word "privacy" appears nowherein our Constitution, a majority of Americans fervently believe that theirright to privacy is a key element which is central to the way they livetheir public and personal lives, and that it is also key to the viabilityof the democratic system. Given the fact that it is a somewhat abstract,ambiguous, and difficult idea to define, privacy is indeed seen as being acritical and irreplaceable basic right of individuals.

In thiswonderful, eminently accessible, and very readable book, Ellen Alderman andCaroline Kennedy, produce a gem of a work that offers a thoughtful,absorbing, and provocative overview of what the generally perceived(although not specifically Constitutionally defined) right to privacy meansfor us as citizens and individuals. Using a well-integrated series oflandmark cases, trial decisions, and an entertaining plethora ofanecdotal situations, the authors render this abstract, complicated, andcritically important legal right much more understandable andcomprehensible. As with their earlier book, "In Our Defense", Alderman andKennedy transform the arcane legal language of various laws, regulations,and court decisions into relevant and compelling arguments that help thereader understand just how central to our basic liberties the right toprivacy is.

The book examines six general areas of tension and concernregarding the right to privacy; privacy versus law enforcement, privacy andyour self, privacy versus the press, privacy versus the voyeur, privacy inthe workplace, and privacy versus information. In examining each of theseissues, the authors engage what the right to privacy means in practicalterms. For example, can one refuse to comply if a police officer askspermission to look through one's luggage? Does your employer have a rightto know your sexual orientation? Can the electronic media invade your homein pursuit of a hot story? In each of these cases, they also show how therights to privacy must be seen and understood in the context of otherpublic and individual rights and prerogatives.

In all this cogent andcompelling narrative, one hear the consistent voice of caution and reason,for the authors are mindful of the fact that we live in a society in whichour individual rights as citizens and individuals are under continuingassault, and are very much under threat from other competing needs andconcerns. This is an extremely thoughtful, straightforward, and aneminently compelling argument on behalf of public education and enlightenedself-interest. This is a wonderful book, and one I highly recommend. Enjoy.



Click Here to see more reviews about: The Right to Privacy (Paperback)

Review of Software Patents (Hardcover)

I read older version of this book more than 6 month ago.This gives little idea about software patents but it DOES NOT talk about software in each chapter.This is like a general patent agent's book, but only with a little flavor of software-insights.
I suggest the following supplements for writing a competent software/business method patent:Read a book on System Analysis, a book on Software Engineering--if you have time(optional), a book on Unified Modeling Language 2.0 (any basic UML book will suffice, but it is a must to read), learn to use a UML drawing tool like either MS Visio, Rational Rose, or Enterprise Architect. You may allow a dedicated 2 months time of study to start writing a competent software patent.

Product Description
Explores software patents in-depth, including the debate over whether the functional aspects of software, a technology that has permeated society, should be owned by anyone, or whether the unique aspects are the only parts that may be patented. Discusses whether the patent office can decide the issue. Previous edition not cited. DLC: Computer programs--United States--Patents.

Click Here to see more reviews about: Software Patents (Hardcover)