Transfer Pricing

Europe

EU court rejects Nike’s challenge of transfer pricing state aid investigation

July 14, 2021

The General Court of the EU on July 14 dismissed an action by Nike to annul a decision by the European Commission to investigate whether advance pricing agreements (APAs) concluded by the Netherlands with Nike constituted . . .

New multinational tax allocation rules will ‘overlay’ transfer pricing rules, OECD official says

July 13, 2021

Speaking virtually at a July 13 Tax Policy Center event, Grace Perez-Navarro, Deputy Director of the OECD’s Centre for Tax Policy and Administration, explained that the new transfer pricing allocation rules recently endorsed by 130+ countries partially set aside the arm’s length principle but do not . . .

Europe

Poland proposes changes to transfer pricing regulations

July 13, 2021

Dr. Monika Laskowska, Warsaw School of Economics, discusses the Polish Ministry of Finance’s June 28 launch of taxpayer-friendly amendments to its transfer pricing regulations, including changes to regulations introduced in 2019 that . . .

Asia-Pacific

Jordan implements formal transfer pricing rules

July 12, 2021

Nour Ali, DNV, discusses Jordan’s June 7 adoption of official transfer pricing rules for the first time through regulation No. 40 of 2021, implementing . . .

Asia-Pacific

Qatar extends transfer pricing filing deadline to 30 September

July 6, 2021

Rubeena Dina, Global Tax Services, discusses Qatar’s June 17 announcement extending the deadline to file master and local files for the fiscal year ending December 31, 2020 . . .

Europe

Dutch report on international tax and transfer pricing rulings reflects new ruling practice

June 29, 2021

Clive Jie-A-Joen and Monique van Herksen, Simmons & Simmons LLP, analyze the June 15 Dutch Revenue Service’s 2020 annual report on international tax rulings, focusing particularly on the advance pricing agreements that . . .

Europe

Spain amends MAP rules for tax and transfer pricing disputes

June 29, 2021

Mario Ortega Calle and Íñigo García Fernández, J&A Garrigues, S.L.P., discuss Spain’s June 8 approval of Royal Decree 399/2021, improving its mutual agreement procedure (MAP) for resolving double taxation . . .

Asia-Pacific

Taiwan transfer pricing decree on bilateral APAs takes sensible approach

June 28, 2021

New York City Economist Dr. J. Harold McClure discusses Taiwan’s June 24 decree on negotiating and implementing bilateral APAs, stating that it shows a sensible and flexible approach . . .

Americas

Argentina establishes simplified transfer pricing reporting regime

June 22, 2021

Hernán Ubertazzi, 3D Asesores, discusses the Argentine tax agency’s June 18 guidance simplifying the transfer pricing reporting regime to alleviate burdens on taxpayers that are considered . . .

Accounting

Finnish court accepts US GAAP as basis for transfer pricing in landmark ruling

June 22, 2021

Heikki Vesikansa, Jenni Parviainen, and Stefan Stellato, Hannes Snellman Attorneys Ltd., discuss a key June 2 Finnish Supreme Administrative Court ruling (SAC 2021:73), confirming the acceptability of a foreign . . .

Europe

Finland court rejects tax authority’s transfer pricing approach to intercompany interest rates

June 17, 2021

New York City Economist Dr. Harold McClure discusses a May 21 Finnish Supreme Administrative Court decision which rejected the Finnish tax authority’s attempt to increase the intercompany interest rates charged by a Finnish financing affiliate to its Russian operating affiliate . . .

Europe

Finnish tax administration publishes statements addressing transfer pricing guidelines and effect of COVID-19 on permanent establishment rules

June 16, 2021

Ville Alahuhta, Bird & Bird Attorneys Ltd, discusses the Finnish tax administration’s April 19 and 21 guidance clarifying its position on the retroactive effect of updates to the OECD transfer pricing guidelines and the effects of COVID-19 . . .

Americas

Coca-Cola says tax court erred in transfer pricing dispute, seeks reconsideration

June 7, 2021

The Coca-Cola Company on June 2 asked the US Tax Court to reconsider and set aside its November 2020 transfer pricing decision, in which it determined that Coca-Cola’s US income should be increased by . . .

Americas

Perú tax authority considerations about the use of multi-year data in determining arm’s length transfer pricing

June 7, 2021

Zaida Limongi, TP Consulting Perú, discusses the Peruvian tax administration’s April 15 transfer pricing guidance . . .

OECD should rein in model treaty changes on transfer pricing of financial transactions, commentators say

June 4, 2021

The OECD’s business forum (BIAC) said in a May 28 comment letter that the OECD’s proposed changes to the OECD model tax convention commentary under article 9 relating to the interaction of transfer pricing . . .

Americas

Cyprus to oppose global min tax, EU public country-by-country reporting: eKathimerini.com→

June 4, 2021

Austria

EU reaches agreement on public country-by-country tax reporting

June 2, 2021

Negotiating teams from the European Council and European Parliament reached an agreement on June 1 on a proposed directive that would require public disclosure of country-by-country tax information by certain . . .

Asia-Pacific

Glencore prevails in the Cobar copper transfer pricing dispute, but should it have?

June 2, 2021

New York City Economist Dr. J. Harold McClure discusses Glencore’s transfer pricing dispute with the Australian Taxation Office and assesses whether the courts reached the correct conclusions. . .

Africa

Kenya tax bill alters permanent establishment definition, increases transfer pricing reporting requirements

June 2, 2021

Ian Mota, Rödl & Partner, discusses Kenya’s Finance Bill 2021, which includes a new “permanent establishment” definition, country-by-country reporting requirement, and new rules for determining “control” among related entities . . .

Americas

Argentina issues pandemic-related transfer pricing relief, guidance

May 27, 2021

Hernán Ubertazzi, 3D Asesores, discusses the Argentina tax agency’s announcement on April 30 on transfer pricing documentation deadlines and recommendations regarding the treatment of controlled transactions that took place during the pandemic . . .

Asia-Pacific

Malaysia tax authority announces changes to country-by-country reporting

May 26, 2021

The Malaysian government announced on May 25 on its website that taxpayers can now file their country-by-country reporting information using . . .

Asia-Pacific

Australia’s High Court lets Glencore’s transfer pricing win stand

May 26, 2021

In a significant win for the taxpayer, the High Court of Australia on May 21 refused to hear an appeal of the lower court’s decision in a transfer pricing dispute between Glencore and Australia’s tax authority . . .

Estonia

Greece, Hungary, Iceland fall short of tax dispute resolution goals, OECD review finds

May 26, 2021

Iceland has no bilateral advance pricing agreement (APA) program in place, and Greece, Hungary, and the Slovak Republic are failing to timely resolve mutual agreement procedure (MAP) cases, according . . .

Europe

Ukraine’s new transfer pricing reporting forms

May 24, 2021

Yuri Nikolaychuk, Associate Partner, Rödl & Partner, Kyiv, discusses recent updates to Ukraine’s required transfer pricing documentation . . .

Americas

The EU Commission’s objections to Amazon’s transfer pricing approach

May 24, 2021

New York City Economist Dr. J. Harold McClure examines why the EU Commission’s objections to Amazon’s transfer pricing approach resulted in Amazon’s win . . .

Europe

The UN transfer pricing manual’s guidance on IP valuation and royalty rates

May 19, 2021

New York City Economist, Dr. J. Harold McClure, discusses the latest edition of the United Nations Practical Manual on Transfer Pricing for Developing Countries, released April 27, which includes some useful observations on the nature of intangible assets, yet it has a very sparse discussion of the evaluation of intercompany royalty rates . . .

Asia-Pacific

Australian draft guidance clarifies tax compliance for intangibles arrangements

May 19, 2021

The Australian Taxation Office set out its compliance approach to various international arrangements relating to intangible assets and the associated tax compliance risks in a draft . . .

Americas

US IRS advises on inclusion of royalties in subsidiary’s five-year projection under cost sharing agreement

May 18, 2021

In unofficial advice, the IRS Office of Chief Counsel advised on circumstances when a taxpayer may not need to include any royalties in its five-year projection for a US subsidiary . . .

Europe

Ukraine’s new transfer pricing rules expand taxpayer obligations

May 17, 2021

Ivan Shynkarenko, KM Partners, WTS Global, Kyiv, discusses Ukraine’s recent changes to its tax code affecting the transfer pricing . . .

Europe

Luxembourg welcomes EU court’s judgment that Amazon tax treatment did not violate state aid law, will “examine” judgment finding state-aid advantage in ENGIE case: Luxembourg Government→

May 13, 2021

Europe

The UN transfer pricing manual’s guidance on intercompany interest rates in the extractive sector

May 12, 2021

New York City Economist, Dr. J. Harold McClure, discusses several examples in the United Nations transfer pricing manual’s chapter on the extractives sector that address how to set appropriate intercompany interest rates . . .

Europe

First Look: Luxembourg and Amazon win tax-related state aid dispute, EU prevails in Engie

May 12, 2021

The General Court of the European Union on May 12 issued a judgment annulling a European Commission . . .

Americas

Canada improves completion time for advance pricing agreements

May 11, 2021

The Canada Revenue Agency reduced the average time to complete a bilateral advance pricing arrangement (APA) by more than one year in 2020, according to the CRA’s 2020 APA program report, released April 27 . . .

Asia-Pacific

Mongolia rejects mining company’s tax claims in international dispute, seeks damages

May 11, 2021

The government of Mongolia has filed its defense and counterclaim in a USD 155 million international arbitration tax dispute with the operator of the Oyu Tolgai mine, Oyu Tolgai LLC . . .

Americas

US lawmakers reintroduce public country-by-country reporting bill: Rep. Cynthia Axne→

May 11, 2021

Americas

Argentina extends transfer pricing deadlines due to COVID-19: AFIP (in Spanish)→

May 11, 2021

Asia-Pacific

How prudent is it to conduct transfer pricing risk adjustments for captive cost centres?

May 4, 2021

Smarak Swain, New Delhi, discusses India’s Income Tax Appellate Tribunal’s recent decision in a transfer pricing dispute, GCO Technologies Centre Pvt Ltd, focusing on whether adjustments should have been made to the comparables to reflect the captive service provider’s risk levels. . .

Asia-Pacific

New Singapore transfer pricing guide addresses MNE centralised services

May 4, 2021

Adriana Calderon, Transfer Pricing Solutions Asia Pte Ltd, discusses the Inland Revenue Authority of Singapore’s release on March 19 of transfer pricing guidelines on centralized services . . .
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Americas

British Virgin Islands extends deadlines for CbCR, CRS, and FATCA reporting due to technical difficulties: Virgin Islands National Tax Authority→

April 29, 2021

Khaled Al Zaabi on Spanish government proposes digital services tax: “We are seeking assistance with Digital Assets and International Tax Consulting to help Abu Dhabi UAE Oil Company navigate the…” October 24 ,2024

Emma Hinson Sims on The Pillar One blueprint — the potential future of international taxation and transfer pricing: “HAPPY BIRTHDAY TO A VERY SMART, BEAUTIFUL, YOUNG LADY ON JANUARY 13TH.” January 6 ,2024

David Valdez on US Tax Court resolves Whirlpool tax dispute involving Mexican maquiladora structure: “Greetings Whirlpool Mexico, I’m trying to contact someone involved with the decision making for transportation from all of your Mexican…” October 20 ,2023

Jose Dominguez on The new US international tax rules: what you need to know about GILTI, FDII, BEAT etc.: “Very informative article. Question. Do you have a software to compute these US International Calcs to make them in house?” April 12 ,2023

Ciro César Soriano de Oliveira on Danish High Court rules on beneficial ownership of dividends for tax purposes: “Dear Ms Susi, This article is immensely clarifying. I’d like to know whether Danish Supreme Court has already granted its…” March 24 ,2023

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