In a victory for major U.S. companies, a unanimous Supreme Court has set a strict standard of proof for cases alleging predatory bidding in violation of federal antitrust law. The court held that the standard it applied in 1993 to predatory selling also applies to predatory buying.
During the past year, the Canada Revenue Agency ("CRA") has made transfer pricing a priority issue in its audits and has encouraged applications for bilateral Advance Pricing Agreements ("APAs"). The CRA also released a new transfer pricing memorandum dealing with requests for contemporaneous documentation and is implementing programs aimed at improving the quality of transfer pricing documentation prepared by CRA auditors.