TRANSFER PRICING EXPERIENCE
Andrew Parsons has managed more than 100 expert reports for taxpayers, the Internal Revenue Service, the Australian Taxation Office, and other tax authorities in the arena of transfer pricing. As Vice President of Precision Economics, Mr. Parsons has been engaged in many assignments in the context of litigation and documentation planning studies. These assignments have involved a wide range of valuation topics—including tangible property, cost sharing, and intangible property—with a focus in software, semiconductors, medical devices, pharmaceuticals and consumer products.
PROJECT MANAGEMENT/TESTIMONY
Mr. Parsons has managed projects in a number of recent milestone transfer pricing cases including:
- GlaxoSmithKline Holdings (Americas) Inc. v. Commissioner of Internal Revenue: In 2006, Mr. Parsons served as project manager for the lead transfer pricing economic expert for the IRS in a dispute with GlaxoSmithKline, which resulted in the largest tax settlement in history—$3.4 billion.
- Roche Products Pty Limited v. Commissioner of Taxation: In 2007-2008, Mr. Parsons served as project manager for the lead transfer pricing economic expert for the Australian Taxation Office in a transfer pricing dispute with Roche Products. In this landmark case, the Australian Administrative Appeals Tribunal decided upon an adjustment for Roche’s pharmaceutical division that was similar to the amount opined by Precision Economics.
Mr. Parsons has also provided testimony in hearings before the U.S. International Trade Commission and has spoken at conferences in both the United States and internationally.
EDUCATION
Mr. Parsons received a B.S. and M.E. in Operations Research and Industrial Engineering from Cornell University in 1996. He earned a M.B.A from the Georgetown University in 2003.
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