The European Commission, on June 4, endorsed guidelines on secondary adjustments, transfer pricing risk management, and compensating adjustments contained in previously released reports prepared by the Joint Transfer Pricing Forum (JTPF). The JTPF is transfer pricing expert group established by the Commission in 2002.
The Commission also said that the JTPF is working on improvements to the Code of Conduct on transfer pricing documentation and the EU Arbitration Convention. The Commission also released “frequently asked questions” on the functioning of the JTPF and on transfer pricing concepts covered in the JTPF reports.
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