3:30pm                         Adjustments to Comparables: Less is More?  This panel will discuss the validity and utility of common adjustments of the results of comparables under various profit level indicators.  Moderator: Vinay Kapoor, Washington, DC. Panelists: Russell Kwiat, Advance Pricing Agreement Program, IRS, Washington, DC;  Ednaldo Silva, Royaltystat.com, Washington, DC; Cym H. Lowell, Gardere Wynne Sewell LLP, Dallas, TX.  

4:30pm                         Current Developments in the Advance Pricing Agreement Program and the Competent Authority Process.  This panel will discuss the current status of, and recent developments in, the Advance Pricing Program, and recent experience involving transfer pricing issues in the Mutual Assistance Procedure under US income tax treaties.  Moderator:  Robert T. Cole, Alston & Bird LLP, Washington, DC.  Panelists: Frank Ng, Industry Director, Communications, Technology and Media, IRS, Washington, DC; Matthew Frank, Director, Advance Pricing Agreement Program, IRS, Washington, DC; Francois Vincent, KPMG LLP, Montréal, Québec.