Chevron Australia Ends Transfer Pricing Appeal: Chevron Australia withdrew its appeal challenging an Australian Tax Office (ATO) transfer pricing decision concerning the appropriate arm’s length interest rate for an intercompany loan. The company’s decision to end its High Court appeal means the April 21 decision by Australia’s Full Federal Court will stand, leaving in place a decision in favor of the ATO and allowing the ATO to apply the decision to other taxpayers.

FinCEN Issues Advisory on Luxury Property Transactions: Today, the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) issued FIN-2017-A003 regarding money laundering risks associated with certain real estate transactions. The advisory notes that real estate transactions involving luxury property purchased through shell companies, particularly those conducted in cash, can be an attractive to criminals seeking to launder illegal proceeds.