Glencore won an AUS 92m (USD 62m) transfer pricing dispute with the Australian Taxation Office in the Federal Court of Australia, in a judgment delivered today.
At issue was whether amounts paid to Glencore by a related Swiss company for the supply of copper concentrate was arm’s length. The court also considered whether the ATO’s decision to restructure a contract for the purposes of applying transfer pricing provisions was appropriate.
MNE Tax will publish an article on this decision written by an Australian transfer pricing expert shortly.
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