<?xml version="1.0" encoding="UTF-8"?><xml><records><record><source-app name="Biblio" version="7.x">Drupal-Biblio</source-app><ref-type>17</ref-type><contributors><authors><author><style face="normal" font="default" size="100%">Kenneth Klassen</style></author><author><style face="normal" font="default" size="100%">Petro Lisowsky</style></author><author><style face="normal" font="default" size="100%">Devan Mescall</style></author></authors></contributors><titles><title><style face="normal" font="default" size="100%">Transfer pricing: Strategies, practices and tax minimization</style></title><secondary-title><style face="normal" font="default" size="100%">Contemporary Accounting Research</style></secondary-title></titles><dates><year><style  face="normal" font="default" size="100%">Accepted</style></year></dates><language><style face="normal" font="default" size="100%">eng</style></language><abstract><style face="normal" font="default" size="100%">&lt;p&gt;&amp;nbsp;&lt;/p&gt;&lt;p&gt;Using a survey of tax executives from multinational corporations, we document that some firms set&amp;nbsp;their transfer pricing strategy to minimize tax payments, but more firms focus on tax compliance.&amp;nbsp;We estimate that a firm focusing on minimizing taxes has a GAAP effective tax rate that is 6.6 percentage&amp;nbsp;points lower and generates about $43 million more in tax savings, on average, than a firm&amp;nbsp;focusing on tax compliance. Available COMPUSTAT data on sample firms confirm our survey-based&amp;nbsp;inferences. We also find that transfer pricing-related tax savings are greater when higher foreign&amp;nbsp;income, tax haven use, and R&amp;amp;D activities are combined with a tax minimization strategy.&amp;nbsp;Finally, compliance-focused firms report lower FIN 48 tax reserves than tax-minimizing firms,&amp;nbsp;consistent with the former group using less uncertain transfer pricing arrangements. Collectively,&amp;nbsp;our study provides direct evidence that multinational firms have differing internal priorities for&amp;nbsp;transfer pricing, and that these differences are strongly related to the taxes reported by these firms.&lt;/p&gt;&lt;p&gt;&amp;nbsp;&lt;/p&gt;</style></abstract></record></records></xml>