Is transfer pricing legal in the United States? Is transfer pricing legal in the United States? Transfer pricing allows companies to sell to its own subsidiaries without using market pricing mechanisms to do so. Is this legal in the United States? This would theoretically allow a company to sell minerals for 1 dollar a ton.
Transfer pricing is something that is required when related parties provide good or services to each other, in order to determine what part of the profit from the eventual sale of the goods or services is allocated to the initial transferor and what part is allocated to the final seller of the good or service. There is no country in the world where transfer pricing is illegal, and ther is no reason that it should be. The legal issue in transfer pricing is how to determine it correctly to be in compliance with tax and financial accounting standards that apply to it, and the proper transfer price for tax purposes is not necessarily the proper transfer price for financial accounting purposes. Generally speaking, transfer prices are supposed to be set at an amount equal to the price that would have been reached in an arms length transaction between unrelated third parties. If the transfer price is too high, the &quot;buyer&quot; isn't paying enough taxes on the final sale. If the transfer price is too low, the &quot;buyer&quot; is paying too much tax on the final sale. Abuses in transfer pricing tend to occur when they are set to allocate almost all profits to the company in the low tax jurisdiction, and almost no profits to the related company in a high tax jurisdiction. The proper means of setting transfer taxes is a highly technical area of international taxation and financial accounting. This would theoretically allow a company to sell minerals for 1 dollar a ton. The proper transfer price of minerals is their fair market value. It is impossible to know if $1 a ton is too high, too low, or just right, without knowing more about the transaction.
The reason that you are being asked to comply with a US law is because PayPal, a US company, is required to comply with US laws. If you do not comply, it is likely that they will be non-compliant and subject to sanctions. For more background, FATCA reporting is used to identify businesses that a company does business with. In this scenario PayPal does business with you, 'Kenorb Inc', and so must prove to the regulatory agencies that you are not a US based company, hence the need for the W-8BENE. In a similar way - people from other countries cannot simply ignore UK law when dealing with your business. As for your quotes - they are not contradictory.
First, the seller has not violated copyright law by selling you this book. Kirtsaeng v. John Wiley &amp; Sons, Inc. provides the precedent. The Supreme Court ruled that the First Sale doctrine applies to &quot;grey market&quot; imports of books, so buying a book cheaply in another country and then shipping it to the USA is entirely legal, regardless of what the publisher would like. The court wrote: Putting section numbers to the side, we ask whether the “first sale” doctrine applies to protect a buyer or other lawful owner of a copy (of a copyrighted work) lawfully manufactured abroad. Can that buyer bring that copy into the United States (and sell it or give it away) without obtaining permission to do so from the copyright owner? Can, for example, someone who purchases, say at a used bookstore, a book printed abroad subsequently resell it without the copyright owner’s permission? In our view, the answers to these questions are, yes. Wikipedia also has an article on the case. As for your recourse against the seller, this would seem to be very limited unless they specifically promised you the US edition, or the content is materially different between US and Indian editions. You don't say what kind of book this is. Textbooks typically have identical content. Fiction and other entertainment books generally have local idioms and terminology changed (e.g. &quot;pavement&quot; versus &quot;sidewalk&quot;) but will otherwise be the same. You might be able to claim that this is a material difference, but its likely to be difficult.
No. You have to pay taxes no matter what currency you are paid in, or for that matter, in most barter transaction as well. You would have to pay taxes even if you were paid in goats. Also, the counter-parties in transactions in which you are paid in Bitcoin and earn money often have an obligation to file information tax returns to the IRS. If you don't report the income, both you and any counter-party subject to reporting requirements could be liable for the tax as well as for penalties and interest and possible criminal charges as well for intentionally evading taxation and filing false tax returns.
This is actually pretty standard. You have a contract with a business to provide some service, and you get a bargain on the price of the service as long as you stay with them for some period, such as 2 years. You could get the 'pay as you go' option which doesn't have a termination fee, but that costs more if you are sure you can commit to what you signed up for, for that period. So it's not that you can't terminate the contract, it's that you can't just walk away from your obligation (what they call a "minimum term agreement"), cost-free. The early-termination fee is part of the cost of moving. You have to look in the Legal Agreements &amp; Contract part of Account Details on your account to get the specific agreement that you are bound by. Generally, you are subject to that fee, unless the subscriber dies, or is in the military and is shipped out. You can also transfer your service from area to area – I assume you either are moving to an area without Xfinity service, or you elected to not use Xfinity in that location. It is legal for a business to put their business interest above that of a customer, even in the case of regulated "utilities".
In general, no. When the salesperson quoted the price and you accepted it you were each bound to that price by contract. Consideration under a contract must be sufficient (something of value for something of value) but it doesn't have to be fair: you can be obliged to pay $2 million for a cupcake or sell your Picasso for $1. You were and are under no obligation to pay and could successfully sue for the return of your money. To further clarify, it doesn't matter if the store has or has not provided the goods or services when they discover their error: they are obliged to perform their side of the contract without additional payment. Further, if this was a consumer contract then some sort of consumer protection law almost certainly applies. This would probably make what the store did not only a breach of contract but an offence against the state as well.
Custom is more important than the law AFAIK there is no legal requirement to provide concessional pricing for any goods or services. Custom dictates that this is more common for services than for goods but, for example, cinema’s often don’t provide concessional pricing for blockbuster movies.
Under the assumption stated, the lecherous millionaire is soliciting an act of prostitution, albeit with an unusually high price. His proposal would be just as illegal (or legal) as an offer of $100 for a sexual encounter. In most jurisdictions it would be a crime. George Bernard Shaw famously asked a woman if she would have sex with him (sleep with him, I think was the wording) for a million pounds, and she hesitated and eventually said "well yes, in that case". He then asked if she would for five pounds. Her reported answer was "Mr Shaw! What do you think I am?!" to which he rejoined "We have settled that, Madam. Now we are haggling about the price." This is much the same case -- legally the amount or nature of the price does not matter. Whether this would also constitute sexual harassment would depend on the specific laws of the local jurisdiction.