In this issue:

• IRS releases coordinated issue paper on cost sharing buy-in adjustments
• China adopts long-awaited contemporaneous documentation and penalty regime
• Turkish tax authorities release communiqué on transfer pricing
• Israeli tax authority publishes intercompany transaction disclosure form
• Australia issues TD on interaction of thin capitalization and transfer pricing provisions
• Indian tribunal sides with taxpayer in transfer pricing case
• U.S. Treasury releases report to Congress on effectiveness of transfer pricing rules
• Year-end deadline to preserve taxpayer rights to request competent authority assistance
• U.S. and U.K. competent authorities define first notification under MAP
• Portugal’s 2008 sate budget proposes advance pricing arrangements

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