Transfer Pricing

Americas

Blackrock prevails in UK transfer pricing dispute

November 18, 2020

Liz Hughes and Anthony Crewe, of Grant Thornton UK LLP, discuss a November 3 UK First-tier Tribunal decision in a transfer pricing dispute involving US-headquartered Blackrock investment management group . . .

Africa

Cross-border tax disputes continued to rise in 2019, new OECD stats say

November 18, 2020

Despite the efforts of the OECD and others enhance tax certainty, the number of new tax disputes between multinational groups . . .

Transfer Pricing

UAE launches country-by-country reporting platform: Gulf News→

November 17, 2020

Americas

US IRS invites the public to recommend guidance that should be rescinded, modified, or waived to assist businesses and individuals recover from economic effects of COVID-19 pandemic: Federal Register→

November 16, 2020

Africa

Zambia’s transfer pricing advances and the Mopani copper mine dispute

November 16, 2020

Dr. J. Harold McClure, New York City, discusses a November 12 OECD case study on Zambia’s landmark Supreme Court victory in a transfer pricing dispute involving the Mopani copper mines and notes transfer pricing issues addressed and not addressed in the Court’s decision . . .

Africa

South Africa extends deadlines to file country-by-country reports: South African Revenue Service→

November 13, 2020

Europe

Guernsey extends country-by-country reporting filing deadlines for constituent entities because of COVID-19: States of Guernsey→

November 12, 2020

Americas

Uranium transfer pricing and Cameco’s battle with Canada

November 11, 2020

New York City economist, Dr. Harold McClure, notes the Canada Revenue Agency’s recent decision to file an appeal in the Cameco transfer pricing dispute and suggests that prices paid by Cameco’s Swiss affiliate to its Canadian mining affiliate for uranium may not be arm’s length . . .

Europe

Poland tax guidance confirms controversial position on year-end transfer pricing adjustments

November 5, 2020

Dr. Monika Laskowska of the Center of Tax Analyses and Studies at the Warsaw School of Economics discusses a Poland Ministry of Finance public consultation on an explanatory note addressing taxpayers’ ability to make year-end, self-initiated, transfer pricing adjustments . . .

Americas

Colombia clarifies commodities registration rules for transfer pricing as deadlines approach

November 5, 2020

Laura Pinilla, an Associate at BaseFirma, Colombia, discusses guidance recently released by the Colombian tax office that further clarifies new rules requiring taxpayers subject to the transfer pricing regime to register commodities agreements . . .

Europe

EU court rules Romania can impute interest on intercompany loans, but what should the rate be?

November 4, 2020

Dr. Harold McClure, a New York City economist, notes the EU Court of Justice’s October 8 ruling confirming that Romania’s tax authority can require arm’s length interest rates on intercompany loans and discusses how one would determine the interest rate . . .

Europe

CJEU rules that EU freedom of establishment does not preclude application of Romanian transfer pricing law imputing market-rate interest on loan between parent and branch located in another state: Court of Justice of the European Union→

October 30, 2020

Asia-Pacific

Sri Lanka publishes new transfer pricing disclosure form and guide: Sri Lanka Inland Revenue→

October 30, 2020

Asia-Pacific

India retains transfer pricing tolerance range for 2019–20

October 30, 2020

Gaurav Jain, Chartered Accountant, and Priya Bhutani discuss an October 19 India Central Board of Direct Taxes announcement setting the transfer pricing tolerance range for 2019–20 . . .

OECD releases new methodology for peer review of country-by-country reporting minimum standard

October 29, 2020

The OECD today released a new methodology for judging whether 137 countries and their tax administrations have met minimum standards . . .

Europe

Ireland releases tax bill, announces plan to enact interest deduction limits from 2022

October 28, 2020

Warren Novis, BDO Ireland, Dublin, discusses Ireland’s Finance Bill 2020, released October 22, which includes several tax provisions affecting multinational enterprises and Ireland’s plans to enact EU-compliant interest deduction limitations . . .

Denmark

Denmark courts reject tax authority’s formalistic transfer pricing approach

October 28, 2020

Susi Baerentzen, Ph.D., Copenhagen, analyzes a string of transfer pricing cases decided over the past two years by Denmark’s Supreme Court and high courts which have ruled against the tax administration’s formalistic approach, the most recent example being the July 2 Western High Court ruling in the ECCO shoe case . . .

Africa

Zambia proposes changes to transfer pricing documentation requirements

October 27, 2020

Joseph Jalasi and Mailesi Undi of Eric Silwamba, Jalasi, and Linyama Legal Practitioners, Lusaka, discuss the international tax proposals in Zambia’s 2021 budget, released on September 25 . . .

Europe

Professors analyze EU General Court decision in Apple, noting drawbacks of using state aid concept to counter MNE tax avoidance: Stephen Daly, Ruth Mason / SSRN→

October 27, 2020

Digital Economy

Author proposes international taxation regime for cross border cloud computing businesses: Alexander Weisser / UNIGE→

October 27, 2020

Europe

EU Commission work programme reveals plan for new taxes

October 26, 2020

Francesca Amaddeo, Researcher, Tax Law Competence Centre (SUPSI), Manno, Switzerland discusses the EU’s latest tax policy priorities, as expressed in the EU Commission’s Work Programme 2021 . . .

Africa

Transfer pricing in Kenya: beyond Unilever

October 22, 2020

New York economist Dr. J. Harold McClure discusses the new Kenya chapter in the United Nations Practical Manual on Transfer Pricing for Developing Countries and Kenya’s loss in a transfer pricing dispute with Unilever . . .

Africa

The UN transfer pricing manual’s updated China chapter: wine and smartphones

October 20, 2020

Dr. J. Harold McClure, a New York City economist, discusses the newly revised China chapter of the United Nations Practical Manual on Transfer Pricing for Developing Countries, released in advance of the 21st session of Committee of Experts on International Cooperation in Tax Matters . . .

Africa

UN tax committee to weigh updates to model treaty, transfer pricing manual

October 20, 2020

The United Nations Committee of Experts on International Cooperation in Tax Matters kicked off its 21st session today, meeting virtually to discuss transfer pricing . . .

Asia-Pacific

Israel issues updated draft proposal to amend transfer pricing documentation requirements

October 20, 2020

Jacky Houlie of JH & Co. Law Office and Shlomo Hubscher of JH Consulting Ltd. discuss the Israeli government’s October 12 amended proposal to update Israel’s transfer pricing laws . . .

Multinational

Professor analyzes Australian tax authority’s transfer pricing reconstruction power as a tool to combat IP migration, focusing on Amazon case, OECD guidelines: Anthony Ting / SSRN→

October 19, 2020

Digital Economy

G20 ministers vow to continue work on international tax rewrite

October 14, 2020

In a communique released after their October 14 virtual meeting, G20 finance ministers and central bank governors said they remain committed to achieving consensus . . .

Africa

OECD Pillar One: a closer look at the proposal’s impact and the questions that remain

October 14, 2020

Philippe Paumier of VECTOR TP, Paris, takes a closer look at the supporting impact analysis of the OECD blueprint on pillar one and considers the future of the proposal . . .

Africa

The Pillar One blueprint — the potential future of international taxation and transfer pricing

October 13, 2020

Leslie Prescott-Haar and Sophie Day at TP EQuilibrium | AustralAsia LP provide a detailed look at the report on the Pillar One blueprint, approved by the Inclusive Framework on BEPS and released by the OECD on October 12 . . .

Africa

Countries unable to agree on global tax overhaul, new blueprint reports released

October 12, 2020

An OECD-led coalition of 137 countries known as the Inclusive Framework on BEPS failed to reach agreement on a coordinated update to the international tax rules at their October plenary meeting, OECD . . .

Europe

The economics of leasing and the arm’s length standard

October 9, 2020

Dr. Harold McClure, an New York City economist, presents a model of what would compensate arm’s length lease payments and applies this model to ship leasing . . .

Denmark

Denmark tax tribunal considers sufficiency of transfer pricing documentation

October 9, 2020

Susi Baerentzen, Ph.D., Copenhagen, discusses a decision of the Danish National Tax Tribunal, published on September 24 which assesses the Danish tax administration’s discretionary transfer pricing assessment power. . . .

Americas

Peru postpones some country-by-country report submissions

October 8, 2020

Yasser Zola, Transfer Pricing Manager, BaseFirma Perú, Lima, discusses September 28 Peru guidance which alters the procedure for the submission of country-by-country reports on multinational group entities . . .

Denmark

Draft Danish bill would tighten transfer pricing rules

October 7, 2020

Susi Baerentzen, Ph.D., Copenhagen, discusses proposed changes to Denmark’s transfer pricing law, released for public consultation on October 4 . . .

Belgium

The new Belgian government’s agreement: a symphony with tax notes

October 7, 2020

Geoffroy Galéa, Of Counsel and Head of the Tax Practice at Fieldfisher, Brussels, discusses a policy paper, agreed to September 30 by Belgium’s new government, the so-called “Vivaldi coalition,” which includes the coalition’s position on international tax matters . . .

Africa

COVID-19 test producer Qiagen’s intercompany financing – the transfer pricing issues

October 6, 2020

Dr. Harold McClure, a New York City Economist, discusses an analysis by Vincent Kiezebrink and Jasper van Teeffelen which accuses biotech firm Qiagen of base erosion through the use of intercompany loans . . .

Asia-Pacific

Hong Kong adds XML schema (version 2.0) plus user guide for country-by-country reporting: Hong Kong Inland Revenue Department→

October 6, 2020

Americas

New US IRS practice unit training materials address cost-sharing arrangements and stock-based compensation: US Department of the Treasury→

October 5, 2020

Europe

NGO report reveals German pharma company Qiagen’s tax avoidance through intercompany loans: SOMO→

October 2, 2020

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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