Transfer Pricing

Africa

Stakeholders weigh-in on BEPS Action 14 standards for cross-border tax dispute resolution

Parwin Dina, Lead Client Service Partner and Global Tax Leader, GTS (Global Tax Services) UAE, discusses an OECD consultation meeting, held February 1, addressing OECD Secretariat proposals with respect to a 2020 review of BEPS Action 14, concerning cross-border tax dispute resolution . . .

Americas

Dominican Republic guidance addresses transfer pricing thresholds, tax haven list

Jessica Barbieri an Associate at BaseFirma Venezuela discusses Dominican Republic tax authority guidance issued earlier this month covering various tax issues, including new transfer pricing thresholds and updates to the tax haven list . . .

Asia-Pacific

Qatar’s new transfer pricing documentation rules

Rubeena Dina, Partner at Global Tax Services, UAE and Director at GTS Africa – Mauritius discusses Qatar’s new transfer pricing regulations . . .

Asia-Pacific

Maldives provides English translation of country-by-country reporting regulations: Maldives Inland Revenue Authority→

Americas

Bermuda lists jurisdictions treated as reportable jurisdictions for country-by-country reporting: Bermuda Ministry of Finance, Treaty Unit→

February 8, 2021

Multinational

Using a novel measurement approach, professors conclude that Pillar One and Two blueprint rules are more complex than existing OECD and UN transfer pricing guidance: Jean-Edouard Colliard, Lorraine Eden, & Pierre Georg / SSRN→

February 8, 2021

Europe

Poland APA statistics reveal alarming trends

Dr. Monika Laskowska of the Center of Tax Analyses and Studies, Warsaw School of Economics, discusses trends in Poland’s advance pricing agreement program, as revealed by recent statistics published by Poland’s tax authority . . .

Multinational

UN tax committee publishes practices and working methods agreed to at its October 2020 meeting: United Nations Committee of Experts on International Cooperation in Tax Matters→

Americas

EU Commission’s grounds for appeal in Apple State aid tax case published: European Court of Justice→

Asia-Pacific

India’s Budget – Implications for the international business community

Mukesh Butani and Seema Kejriwal, Partners at BMR Legal, provide a detailed look at the tax implications for the international business community of India’s financial year 2021-22 budget, which includes controversial changes to India’s equalisation levy . . .

Asia-Pacific

Australia says top international MNE compliance risks are profit shifting, related party debt, service hubs, inbound supply chain pricing, PE avoidance, non-arm’s length intangibles arrangements, outbound PE, foreign disposal of property: Australian Taxation Office→

Americas

Professor highlights importance of third-party asset valuation to protect US tax system from abuse: Leandra Lederman / SSRN→

Europe

Guernsey advises financial intuitions of new country-by-country reporting schema and reporting requirements: States of Guernsey Revenue Service→

February 2, 2021

Europe

Guernsey informs reporting entities of country-by-country reporting schema change and reporting requirements: States of Guernsey Revenue Service→

February 2, 2021

Asia-Pacific

Israeli tax circular addresses intercompany recharges from stock-based compensation

February 2, 2021

Jacky Houlie of JH & Co. Law Office and Shlomo Hubscher, JH Consulting Ltd., Tel Aviv-Yafo, discuss a recently issued tax circular released by the Israeli tax authorities . . .

Africa

First Look: OECD consultation focuses on improving cross-border tax dispute resolution

February 1, 2021

The OECD today hosted a consultation meeting on a planned review of minimum standards, agreed to by OECD and G20 countries in 2015, that aim to improve cross-border tax dispute resolution for multinational . . .

Americas

US, Argentina agree to exchange country-by-country reports on large multinationals

January 28, 2021

The US and Argentina have signed a competent authority agreement to exchange . . .

Europe

Ferragamo France’s transfer pricing dispute and resale price method abuse

January 25, 2021

Dr. J. Harold McClure, a New York City economist, notes that a recent transfer pricing case decided by France’s Supreme Administrative Court appears to involve a distribution affiliate with persistent operating losses despite purporting to use arm’s length margins, a pattern discussed in detail by Dr. Ednaldo Silva in his January 6 MNE Tax article . . .

Europe

Swedish court denies telecom giant’s tax deduction for exchange losses

Erik Koponen, Transfer Pricing Specialist at Thorning Koponen Consulting, Sweden, discusses a Swedish Lower Administrative Court decision issued on January 4 that upheld the Swedish tax agency’s denial of a deduction for losses related to a currency conversion of a loan . . .

Africa

Rwanda introduces transfer pricing regulations

Rubeena Dina, Director at GTS Africa – Mauritius, discusses a Rwandan government ministerial order establishing general rules on transfer pricing . . .

Asia-Pacific

Vietnam’s transfer pricing regulations create new challenges

Tu Ha, Transfer Pricing Director at Duff & Phelps, Vietnam, discusses new Vietnam transfer pricing regulations, effective from December 20, 2020, that replace all former transfer pricing regulations . . .

Africa

Transfer pricing and the cumulative advertising effects on sales

Dr. Ednaldo Silva, founder and managing director of RoyaltyStat, Bethesda, Md., discusses the effect of advertising on enterprise-level sales, arguing that marketing intangible producing activities such as advertising expenses cannot coexist with the legal concept of limited function distributor or retailer . . .

Digital Economy

Ireland updates Corporate Tax Roadmap: Ireland Department of Finance →

January 19, 2021

Europe

New Italian budget law permits advance pricing agreement rollback

January 19, 2021

Francesca Amaddeo, Lecturer-Researcher, Tax Law Competence Centre (SUPSI), Manno, Switzerland, discusses a new Italian law related to advance pricing agreements . . .

Africa

“Platform for Collaboration on Tax” toolkit helps countries set up transfer pricing documentation regimes

January 19, 2021

The “Platform for Collaboration on Tax,” a joint initiative of the IMF, OECD, UN, and World Bank Group today released a toolkit aimed at helping developing countries establish an effective transfer pricing . . .

Americas

OECD adds transfer pricing country profiles for Argentina, Dominican Republic: OECD→

January 15, 2021

Africa

Arm’s length principle mutations: control of risk in the OECD guidelines and variations in practice

Andrew Hickman, UK consultant and former OECD Transfer Pricing Head, observes that a “mutated” form of the arm’s length principle is being applied in practice that differs from the 2017 OECD transfer pricing guidelines, and considers whether the guidelines should adopt these changes or if these mutations should be abolished . . .

Africa

OECD releases 20 comments on BEPS Action 14, new tax dispute resolution proposals

The OECD today released 180+ pages of public comments from 20 groups responding to a planned 2020 review of Action 14 of the OECD/G20 base erosion . . .

Council of the EU

EU agenda includes public country-by-country reporting

Francesca Amaddeo, Lecturer-Researcher, Tax Law Competence Centre (SUPSI), Manno, Switzerland, discusses the Portuguese Presidency of the Council of the European Union’s January 1 announcement of its priority program, including tax policy priorities . . .

Europe

Swedish tax agency clarifies DAC6 transfer pricing hallmarks