Today, the Multistate Tax Commission's Transfer Pricing
Committee voted to adopt an Information Exchange Agreement, which
permits states to share taxpayer information with other states
participating in the transfer pricing program. The Committee has an
October meeting scheduled, at which it intends to discuss specific
taxpayers and their transfer pricing regimes.
New Name, Same Goal The MTC has adopted a new
moniker for its transfer pricing initiative. Originally coined the
ALAS (Arm's Length Adjustment Service) Committee, the
initiative is now officially known as SITAS (State Intercompany
Transaction Advisory Service) Committee (the
"Committee"). Discussions to change the name of the group
developed over the past few months as an effort to increase state
participation in the Committee. With its new acronym, the Committee
is continuing to develop its transfer pricing project in an effort
to combat allegedly distortive intercompany pricing practices by
multistate
