NEW YORK, Feb. 19 /PRNewswire-FirstCall/ -- What are the most challenging international tax issues for corporate tax departments? The consensus was that transfer pricing (both U.S. and non-U.S.) topped the list when a group of Tax Executives Institute (TEI) members joined Thomson Tax & Accounting, a segment of The Thomson Corporation (NYSE: TOC; TSX: TOC), to discuss international tax issues on which corporate tax departments were spending the most time. "Transfer pricing takes a significant amount of time and training in many of the multi-national enterprises in our membership. According to TEI's most recent Corporate Tax Department Survey, TEI's members have substantial tax planning responsibility, and in more than 80% of the cases, our members have significant responsibility for planning with respect to transfer pricing. Moreover, as several TEI panelists confirmed, the panelists do expect transfer pricing to get more scrutiny in countries around the world," says Timothy McCormally, Executive Director, TEI. Linda Scheffel, Thomson Tax & Accounting Vice President, said: "The U.S. transfer pricing regulations have always been a challenge, even for experts like TEI's members. Add to those issues non-U.S. regimes with practices such as non-public comparables as well as complex new accounting rules (e.g., FIN 48), and transfer pricing can eat up the time and overwhelm the resources of corporate tax departments. Checkpoint's(R) robust content (including IBFD's worldwide tax treaties and TTA's non-U.S. statute translations), functionality, and integration are perfect for meeting this transfer pricing challenge." Thomson Tax & Accounting is a preeminent source of information and up-to-the-minute guidance on international tax issues including transfer pricing. It offers a wide range of resources on Checkpoint(R), the industry-leading online research platform. An in-depth article covering this TEI panel discussion of international issues will appear in the March 2008 issue of Journal of International Taxation. According to Scheffel, "TEI panel participants indicated that the following transfer pricing issues were among their most time consuming: (1) Non-U.S. transfer pricing issues; (2) U.S. transfer pricing issues; (3) Secret comparables; (4) Maintaining the documentation levels necessary for multiple regimes; and (5) Coordination of internal and external resources working on transfer pricing. Subscribers to Checkpoint are able to research these issues on Thomson Tax & Accounting's Checkpoint, the industry-leading international tax research product, which enables professionals to save time on their research by providing them access to so much expertise through WG&L's Journal of International Taxation, WG&L's International Taxes Weekly, WG&L and RIA research, WG&L workpapers, U.S. treaties and treaty explanations, non U.S. treaties translated by IBFD (TM), non-U.S. statutory translations for over 100 countries, Create-A-Chart, and CompareIt. Both unique and impressive is the integration between the Checkpoint International content and the SEC and accounting-related (e.g., IFRS) analysis, and the way that Checkpoint creates a fully-integrated and complete research system." Bijal Sheth, Vice President, Strategic Marketing, Research & Guidance at Thomson Tax & Accounting says, "By using Thomson Tax & Accounting's Checkpoint, corporations can research time-consuming issues like transfer pricing, take advantage of the experience of WG&L's library written by transfer pricing experts, use WG&L transfer pricing workpapers, collaborate on planning, accelerate and enhance decision making, and share knowledge quickly to minimize risks and focus on additional strategic efforts. In addition, Thomson Tax & Accounting provides the worldwide industry standard in transfer pricing compliance software -- CrossBorder Solutions." TEI is the preeminent association of business tax executives in North America with 7,000 members representing 3,200 of the leading corporations in the United States, Canada, Europe, and Asia. TEI represents a cross-section of the business community, and is dedicated to developing and effectively implementing sound tax policy, promoting the uniform and equitable enforcement of the tax laws, and reducing the cost and burden of administration and compliance to the benefit of taxpayers and government alike. As a professional association, TEI is firmly committed to maintaining a tax system that works -- one that is administrable and with which taxpayers can comply in a cost-efficient manner. Members of TEI are responsible for managing the tax affairs of their companies and must contend daily with the provisions of the tax law relating to the operation of business enterprises. The diversity and professional training of TEI's members enable it to bring a balanced and practical perspective to the business tax and tax-related financial reporting issues. The Thomson Corporation The Thomson Corporation (http://www.thomson.com/) is a global leader in providing essential electronic workflow solutions to business and professional customers. With operational headquarters in Stamford, Conn., Thomson provides value-added information, software tools and applications to professionals in the fields of law, tax, accounting, financial services, scientific research and healthcare. The Corporation's common shares are listed on the New York and Toronto stock exchanges (NYSE: TOC; TSX: TOC). Thomson Tax & Accounting is a segment of Thomson and a leading provider of technology and integrated information solutions to accounting, tax and corporate finance professionals in accounting firms, corporations, law firms and government. Thomson Tax & Accounting includes the Professional Software & Services, Corporate Software & Services, and Research & Guidance business groups. RIA (http://ria.thomson.com/) and PPC (http://ppc.thomson.com/) are both brands within the Research & Guidance business. InSource http://www.insource.thomson.com/ and CrossBorder Solutions http://www.crossbordersolutions.com/ are brands within the Corporate Software & Services business. DATASOURCE: Thomson Tax & Accounting CONTACT: Melissa Lande, 1-800-993-7600, 1#, , or Pam Bruno, +1-203-461-9409, , both of Lande Communications, for Thomson Tax & Accounting Web site: http://www.thomson.com/

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